Growing your law firm to the next level requires more than just outspending the competition on marketing. It requires a smarter and more sophisticated approach. Generating qualified leads for your law firm is expensive. What if there was a better way to double your revenues without spending more money on marketing? The good news is there is! The Rainmaker Institute has discovered the fastest, most cost-effective way to double your revenues is by doubling your lead conversion rate—the percent of prospects you convert into paying clients.
For over 17 years, Founder and CEO, Stephen Fairley, and his Rainmaker team have been teaching attorneys best practices in intake and sales strategies. They also created the first lead conversion system just for law firms. After working with over 18,000 attorneys in every practice area, in every state—they have seen it all! Out of those years of experience, the Rainmaker Lead Conversion System was born.
Law Firms who receive more than 50 leads per month start to exhibit symptoms of struggling to follow up consistently with every contact. Their person-driven lead tracking efforts begin to fall apart, and before long leads are falling through the cracks and so are the marketing dollars.
The Rainmaker Lead Conversion System is a custom-built law firm intake and conversion system that manages every step of the process from lead capture, to nurturing campaigns, to appointment setting, to the initial consultation process and follow up cycle. It is created with content specific to the prospects your law firm is trying to convert.
Automate Your Lead Follow-up and Appointment Sequences
There are only so many things an employee can get done in a day, with quality. Clients call, distractions happen and in turn lead follow up suffers. By automating the emails, intake forms, text message reminders, and appointment sequences you can control every step of the client sequence with the Rainmaker Lead Conversion System.
As an added benefit, the consistency of messages and service will improve across your entire law firm. No-show rates decrease and conversion rates climb. Lewis Landerholm, Esq, Managing Partner of Landerholm Law (www.landerholmlaw.com), a Portland, OR-based family law firm experienced a 540% increase in their lead conversion rates within 12 months of using the Rainmaker Lead Conversion System.
Measurable actions and structure creates an environment that allows your staff to focus on the experience a client is having instead of trying to remember whether they sent out all the appointment reminder emails that day.
Identify Highest Quality Lead Sources
More leads aren’t always the answer! If you are paying for leads, but half of those people only want services for free or very low cost, you are actually hurting your law firm by making your staff look for the needle in the haystack. By measuring the lead quality coming from each advertising source you can better tailor your marketing messages and locations to attract the best potential clients possible.
Double Your Lead Conversion Rates
Most attorneys believe they are pretty good at lead conversion because they only measure how many people show up to the consultation versus how many retain. True lead conversion starts with how many leads the firm receives versus how many retain. Doug Thomas is the Founder and Owner of Divorce Matters (www.divorce-matters.com) and DUI Defense Matters (www.duidefensematters.com) in Denver, CO and a true believer in the Rainmaker Lead Conversion System. “My firm has been using the Rainmaker Lead Conversion System for 18 months now. The results have been stellar! It has helped us double our conversion rate which significantly increased our revenues. Our two primary practice areas are criminal defense and family law. Revenues for our criminal defense are up over 50% year over year! Our revenues for family law went up 90% year over year from $750,000 to $1.4M!”
Decrease Your Marketing Spend
Most law firms don’t know what’s working and what’s not because true conversion rate tracking is not in place. Once the system is running, monthly statistics review meetings with your consultant help you trim the marketing fat from your budget and move the dollars into your highest returning campaigns.
Establish Team Accountability
Fixing your follow up requires a team effort. With a comprehensive lead tracking system, full transparency and accountability is available on a level you simply cannot find anywhere else. You can track and measure each individual’s conversion rates. One of the Rainmaker clients used the system to identify the best associate to handle their DUI consults. The first three associates were converting at 15-20%, yet their best associate could consistently convert at over 60%. Once they saw this they quickly made the decision to remove the other three associates from the rotation and give all the consults to their “best” associate. This resulted in over $60,000 in additional revenues per month!
Enterprise Level Reporting
If you’ve ever seen a corporate sales team’s pipeline report you know there are hundreds of data points being collected. The more data you collect and use the better your decision making ability and the more quickly you can move to where the money is.
With the Rainmaker Lead Conversion System, reports are created and prepared. Then your consultant carefully analyzes and reviews the data with you on a monthly basis. They are constantly looking for patterns, problems, and areas for improvement.
Real World Benchmarking
Wouldn’t it be nice to know how your law firm’s conversion rates compare to others in your practice area? Are you knocking it out of the park, or just barely making the industry average?
The Rainmaker team shares best practices and benchmarks conversion rates at each stage across their entire client base. They know which small changes will make biggest difference for your specific practice area and they readily share those critical insights in your ongoing coaching sessions. For example, after collecting data on thousands of family law client consultations and comparing conversion rates for free consults versus paid consults they started recommending all of their divorce clients to move to paid consults because of the significant increase in conversion rates. They can also tell you how much you should charge for your consults based on which price points convert best. All of this is based on real world data that no one else has!
Setup, Onboarding and Training
With any custom-made product, there is significant time involved. The Rainmaker team must understand your goals, audience and current procedures. If you answer their questions, and get back to them promptly during the implementation phase, a complete set up and install takes about 90 days to complete on average. They also include training your entire team in the service.
Then, the fun begins!
Once the Rainmaker Lead Conversion System is in place, you’ll receive ongoing consulting on best practices and areas for improvement. They will review your firm’s statistics for every stage of the lead conversion process. They will train you and your team on how to properly manage your funnel, and share best practices learned from years of experience helping their law firm clients achieve the highest conversion rates possible for their area of law.
Ideal Practice Areas
Fit for Consumer Law Firms who are currently generating at least 50 leads per month including: Personal Injury, Divorce / Family Law, Criminal Defense / DUI, Consumer Bankruptcy, Estate Planning, Immigration, Workers Compensation and Social Security Disability practices. Law Firm owners who cannot afford to simply outspend the competition, but are looking for a competitive edge that doesn’t require a significant amount of time or money to implement will benefit most from the Rainmaker Lead Conversion System.
To learn more about the program, pricing and implementation reach out to Stephen and his team here: www.TheRainmakerInstitute.com