As an attorney, you might be running all sorts of different marketing campaigns in order to increase your case load. All of these campaigns have different cost and conversion rates. Therefore, if you compare your campaigns (for example: TV and Yellowpages ads) in terms of conversion rate alone, you won’t be taking into account the total cost of the campaign.
In order to compare the return-on-investment of each of your campaigns, we’ve found it’s best to evaluate each performance in terms of cost-per-case, as the most cost-effective campaign will give you the lowest cost-per-case but the highest profit margin.
To calculate how much you’re spending per case, you can use the following formula:
Total $ Spent Campaign/ # of Cases Acquired
Your eGen Campaign
Our Fair Debt Collection (FDCPA), Personal Injury, Social Security Disability (SSD) and Workers’ Compensation leads all have different costs, conversion rates, and expected fees. Meaning they all have different expectations and returns.
Hypothetically, keeping things simple and conservative, let’s say you’ve received $5000 worth of leads and ultimately sign on at least ten of those cases. If even just five of those cases generate at least $3000 in fees, you would generate at least $15,000 in fees that would cover the cost of the marketing campaign. This model doesn't include staffing and overhead costs, which should also be factored into the attorney's calculations.
Although other marketing campaigns may bring you higher conversion rates than online lead generation, their cost-per-case may also be much higher.
Other Ways of Evaluating Your Campaigns
The three things we like to look at when evaluating clients campaign are the following:
- How many people have been contacted in order to decide whether or not you want to pursue the case?
- How many cases are pursuable?
- How many fee agreements were returned?
Having the answer to the questions above, we are able to work together to evaluate and analyze our clients campaigns in order to optimize their results.
Considering Our Leads?
To learn more and see how you can achieve a low and cost effective campaign with our leads, please call us at 617.800.0089 or fill out an inquiry here.