Have you ever wondered what the average volume of inbound leads are for competing law firms? AdLuge is a tool used by law firms to help measure the source of their incoming leads so they can understand how well their marketing dollars are being spent.
After reviewing the data for close to 50 Lawyers and Legal Practices, here are the average volume of leads received by online sources in July 2013.
Organic/Search Engine Optimization: 43 leads per month
Quite often the case, Search Engine Optimization (SEO) is usually the most cost-effective method for generating leads for a law practice. Given that the average SEO monthly management fees range anywhere between $500 to $2000 a month, this would mean that the average cost per lead from an organic source sits at anywhere between $12 to $48 per lead.
The average lawyer can expect to convert approximately 32% of their organic leads into clients.
Out of our own research, there are very few other mediums that offer such cost-effective results.
Paid Search-Google Adwords: 23 leads per month
Google AdWords is by far the most widely used and accepted paid search platform. Other paid search platforms like Bing Ads may be able to gather lower cost per lead metrics, however the opportunity is not even comparable. With Google holding an almost 90% market share in the industry, the exposure it provides is second to none.
Using our own research data we found that the average Google AdWords budget was $1454 in July for Lawyers and Law Firms. This budget provided an average of 23 leads at an average cost per lead (CPC) of just $63.
The average lawyer converted a little under 28% of their leads into clients from this source.
Referral Sites: 18 leads per month
Referral sites can range from directory websites, review websites, social media sites, or partner sites which have posted a link to your website. On average, 18 leads per month came from these types of sites in July. A strong SEO strategy can contribute to an increase in Referral leads significantly. Referral sites are often an extremely cost-effective method for gathering leads, however it’s important to consider that efforts like SEO, or paid directory placements, cost money.
Direct: 22 leads per month
Many things can affect the volume of leads a Lawyer receives per month. Much of this can relate to traditional forms of advertising like print ads, radio, billboards, or magazines. A common practice is to setup tracked phone numbers that direct to your main phone number to properly measure the effectiveness of traditional media campaigns. Therefore, we tend to attribute leads received from the ‘Direct’ source to public relations, brand and word of mouth success. For July, Lawyers received an average of 22 direct leads as calculated in AdLuge
Total Leads: 106 leads per month
AdLuge has shown us that based on close to 50 lawyers and law practices, the volume of leads received by email and phone was 106 for July. In our experience, once a Lawyer employs search engine marketing as part of the marketing mix the biggest improvement area is often employing proper follow up procedures.
The AdLuge tool offers a complete lead management and source measurement system. Whether you choose to use a tool like AdLuge for your search engine marketing and, we recommend employing something that helps you keep track of your patient inquiries through an automated lead management system.
How Do I Generate More Client Inquiries?
Stay tuned to some of my upcoming newsletters as I focus on the following areas:
- Paid Search Metrics for Lawyers
- Tips and Tricks to Improve Paid Search Campaigns for Lawyers
- Search Engine Optimization and your Law Practice
- Things Every Lawyer can do to improve their SEO