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(800) 406-7229 SpotlightBranding.com
THIS ISSUE INSIDE 1
The Biggest Hole In Your Marketing — and How to Patch It Success Story: Nadine Heitz Why Customer Stories Are Your Best Marketing Tools 3 Ways to Leverage Your Firm’s LinkedIn Presence Make Sending Emails Easier! How To Build a Million-Dollar Firm Why You Should Become an ‘Average’ Lawyer
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You Should Become an ‘Average’ Lawyer (Yes, Really) THE PERKS OF AVERAGING YOUR FIRM’S METRICS
Often, when we sit down with clients and ask about their measurables, they don’t have the key answers we need to run a successful marketing campaign. For example, we’ll ask, “What is your average client worth?” and the answer will be, “It depends.” Does that sound familiar? If you’ve ever given an answer like that, you’re standing in the way of your own marketing success. There is value in being “average” — and by that, we mean learning to average your metrics and using those averages wisely. When you know your firm’s averages — like your average case value, average client worth, average open-shut case time, and average case turnaround time for clients — you can better understand the value of your marketing strategies, including the ones we offer here at Spotlight Branding.
Finding these averages is ridiculously easy! Just choose a timeframe, add all of your case values or client values (for example) together, and divide by the total number of cases or clients. There you have it: instant data. With your average case value and client worth in hand, you’ll be able to compare those numbers to the results of your marketing strategies and figure out whether they’re worth what you’re spending. Averages can also help you understand the worth of and set expectations for your team members. If you know your average open-shut case time and case turnaround time for clients, you ask new team members to stick to those averages and track their performance to see if they’re up to snuff. Last but not least, averages can help you predict the future! When you fully understand your firm’s past performance, you can forecast future
revenue, capacity, hours needed, etc., and plan your next steps accordingly. Averages are empowering. Here’s the bottom line: No one wants a lawyer who is just average, but every solo or small law firm owner should strive to know their averages. Are you up to the challenge?
More Referrals. Better Clients. Higher ROI.
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