There’s a law firm that spends $2,000,000 on marketing per month. Until ten years ago, it was many attorneys’ opinions that marketing was something that lawyers shouldn’t get involved in.
A good attorney would receive their work in one of two ways:
- Referrals from other law firms
- Recommendations from satisfied past clients
Competing with other law firms was dishonest and a possible violation of state bar rules.
Fast Forward ten years later, and some law firms are still fighting back against marketers and legal technology companies.
Regardless, products like Google Ads and Facebook Ads have made themselves a critical part of growing a law firm.
Lawyer referral services have taken the uncertainty of getting random referrals, and made it consistent (for a fee.)
There’s something special when a lawyer can determine a marketing budget, and calculate exactly how many leads they are going to get.
If on average a lead costs $100, and they have a monthly budget of $5000, they can expect 50 leads.
If 10% of their leads become clients, they can expect 5 new clients per month.
The Cap On The Number of Leads
This means that it costs $1000 to bring in a new high-value client.
If the high-value client spends $10,000, that’s a profit of $9000/client.
This obviously only works on higher-end legal services. Not for the making of Wills or real estate conveyancing.
But here is the problem…
There are only so many leads out there. For every law firm that starts purchasing leads or running Google Ads, the cost per lead goes up.
Let’s say you are a criminal lawyer in Seattle. There are only X amount of people each month who need a criminal lawyer.
Let’s say that amount is 3000 people (I have no idea.)
That means that if you spend $300,000 per month because it costs you $1000/client, you would get all the criminal law clients in Seattle.
That doesn’t make sense.
So What Happens When You Spend $2,000,000 A Month On Marketing?
I went to the largest law firm in my city to find out. They agreed to talk to me, as long as I didn’t mention them by name.
I told them about my math and asked how there are enough clients out there to spend $2M/month on.
This law firm is on all the billboards, TV stations, and the radio. And of course, they buy leads and do Google Ads.
They said they had to expand to other areas of law to make it work. They became number one in immigration law first.
Then they expanded to personal injury.
Once they hit all the areas of law, they expanded to other cities.
Marketing your law practice is hard. You need to find ways to make law fun.
Feel free to steal any of the memes on this page and post them on your law firm’s website or social media.
It’s good to make people laugh. After all not all lawyers are dead inside.
Author: Alistair Vigier