When firms purchase Social Security disability lead packages from eGenerationMarketing, we’ve found that they can expect around 7-10% of these leads to result in desirable Social Security disability cases. While this conversion rate can vary depending on the firm handling the case, one of the best ways to ensure that you’re getting the best value for your leads is by understanding what type of person applies for disability benefits.
The ultimate objective in utilizing lead generation is to achieve the lowest cost per case acquired from the campaign. This goal holds true for any type of marketing. The amount of money allocated to the campaign divided by the amount of cases acquired as a result of the investment is the basic formula for finding your cost per case rate.
Over the past six years, several hundred attorneys and advocates have utilized our Social Security Disability lead generation service. Many obtain a phenomenal return on investment with the leads, but others sometimes report unsatisfactory results. We constantly strive to improve our lead quality, and from the conversion data reported to us from existing clients, our lead quality has steadily increased over time.
February 27, 2015 marks the sixth birthday of eGenerationMarketing. The past six years have been an incredible learning experience, during which we have generated well over one million legal case leads and taken a basic idea into a company on which 200+ legal firms rely for a steady stream of new cases. When we initially started generating Social Security Disability leads six years ago, the legal lead generation landscape was notably different.
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.
When your firm starts receiving leads, whether it be from an online lead generation source or through another marketing venue, it’s probably easy to keep track of the first few leads you receive. However, once those first 10 leads turn into 100+ leads, it will be extremely difficult to manage. This is why it’s extremely important to have a Lead and Case Management system that helps you track the different steps in your follow up procedure. Also, tracking the leads allows you to accurately calculate your return-on-investment (ROI) and profitability of the leads your firm purchases.
Internet lead generation has become an increasingly popular and viable way for businesses of all types to connect with their consumers. Lead generation companies have continuously improved their methods of attracting desired individuals to their websites, where those individuals can get connected with the product or service provider in their area that can fulfill their needs. It’s a win-win for everyone.
The Office of Disability Adjudication and Review (ODAR) is responsible for holding hearings, issuing decisions, and reviewing appeals as part of the Social Security Administration's process for determining and individual’s eligibility to receive Social Security Disability Insurance (SSDI), as well as Supplemental Security Income (SSI) benefits. As part of this process, the ODAR oversees hearings at 168 different locations across the United States, and as of September 2014, the average wait time in the United States is 12.5 months for an SSI or SSDI hearing, while the total average time to process a case is 405 days. Overall, the nationwide average for winning a disability case at the hearing level is 44%.
In my last post, I wrote about maximizing lead conversion and briefly outlined five tips that can assist in increasing return-on-investment with an online lead service. The article included recommendations on how to create an efficient follow-up process, based on conversations and feedback from attorneys and advocates who use our service. However, upon reflecting on the content of that post as well as the conversations I have with clients on a near-daily basis, I came to the realization that it could be much more effective to sit down with a client and to report the client’s advice directly.
Over the last year, we have received countless calls from Social Security Disability attorneys and advocates stating that they are not making as much money as compared to previous years. As a business that connects potential claimants to attorneys, we constantly track the ROI as a result of using our service. Thus, we were determined to uncover if and why Social Security law is less profitable than in past years. While we acknowledge that there are many metrics that affect profitability prior to a hearing, this article will focus specifically on the profitability of claims that make it to the hearing level.