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Strategies for cost-effective client acquisition (Part II)

 

by Jeff Elble and Winston Hofer and Jordan Haynes   |   Michigan Bar Journal

Law Practice Solutions

In part one of this article, we explored key strategies for mastering client acquisition, including envisioning the process as a funnel with a broad audience at the top that narrows as leads move through different stages until some convert into clients. But is your client acquisition strategy breaking your marketing funnel?

This article delves into the common pitfalls that could cost you valuable clients and offers four strategies to optimize your funnel.

IDENTIFY GAPS IN AUTOMATION IN EACH PART OF YOUR FUNNEL

Is your client acquisition process as efficient as it could be? Can automation help you capture more leads?

Automation is a game changer for legal practices looking to maximize their client acquisition efforts. Automation is intended to streamline processes and reduce manual labor. Let’s start by evaluating the entry point into your marketing funnel to identify steps requiring excessive manual labor; this is where automation can be implemented. From initial contact to follow-up emails and appointment scheduling, automation tools can ensure no lead slips through the cracks.

An extremely common, but underutilized, automation tool for initial contact with potential clients is a customer relationship management (CRM) system. Optimizing or implementing CRM systems allows you to track client interactions automatically. Automating these tasks lets your team to focus on more valuable activities such as personalized client consultations and strategic planning. Moreover, automation can help maintain consistent communication with potential clients, increasing the likelihood of conversion.

IMPROVE PROSPECT AND REFERRAL SOURCE TOUCHPOINTS

Your touchpoints with prospects and referral sources are critical to building relationships and demonstrating your value. Take a moment to analyze your current touchpoints and identify areas for improvement. A simple place to start is ensuring that your follow-up communications are timely, relevant, and personalized. Also, regularly update your referral sources about your services and successes to keep them engaged and motivated to refer clients to you.

If you find that your follow-up communications are lacking, implement a nurture campaign to stay in touch with prospects who are not yet ready to commit but still show potential. In your nurture campaign, providing valuable content — like legal updates, tips, and case studies — will continue to keep your firm top of mind and position you as a trusted authority. By improving these touchpoints, you’ll increase the likelihood of converting prospects into clients and encourage referral sources to send more business your way.

CONVERTING LEADS TO CLIENTS

A common gap in many legal practices is converting leads to clients.Transitioning between leads and clients requires a clear understanding of each pool. While leads are people who showed an interest in your service, clients are people who you’ve closed a deal with.

To avoid losing leads, clear and timely communication is key. For instance, when a prospect shows interest by filling out your contact form, follow up promptly. This is where a CRM system provides you with timely and simplified communication and valuable tracking information into a prospect’s interactions with your marketing outreach, allowing for more personalized and effective follow-up communication.

CREATE A FUNNEL AND PIPELINE THAT IS ALWAYS WORKING

Is your sales funnel optimized to work around the clock? If not, let’s talk about how you can ensure your pipeline is always full and moving prospects toward becoming clients.

Creating a robust sales funnel and pipeline is essential for continuous client acquisition. Start by mapping out each stage of your sales funnel from initial awareness to final decision-making. Identify the key actions prospects need to take at each stage and develop strategies to guide prospects through each action, moving them through your funnel.

Technology can supplement your strategy by keeping your funnel and pipeline active around the clock. Marketing automation tools nurture leads, send follow-up emails, and schedule consultations even when your team is not actively working. Also, regularly review and analyze your pipeline data to identify trends, bottlenecks, and opportunities for improvement.

CONCLUSION

By ensuring your sales funnel and pipeline are always working, you will maintain a steady flow of prospects and increase your chances of converting them into clients.


Law Practice Solutions is a regular column from the State Bar of Michigan Practice Management Resource Center (PMRC) featuring articles on practice, technology, and risk management for lawyers and staff. For more resources, visit the PMRC website at michbar.org/pmrc/content or call our Helpline at 800.341.9715 to speak with a practice management advisor.

When considering promotion of legal services, State Bar of Michigan members should review the Michigan Rules of Professional Conduct, relevant ethics opinions, and frequently asked questions. Specific questions may be addressed to the SBM Ethics Helpline at 877.558.4760 or ethics@michbar.org.