Feedback is the Key to Disposition
Key Takeaways
- Optimized lead disposition leads to growth. Go beyond the binary approach to maximize client acquisition for attorneys and ROI.
- Build trust, transparency, and better in-house communication in your law firm through systematic lead disposition. Consistent feedback can transform your relationships.
- An innovative approach to lead disposition streamlines feedback, optimizing your marketing dollars and boosting your closing rate.
What is lead disposition?
Law firms, no matter their size or area of specialization, need a steady influx of new clients to thrive. As more people go online to find legal help, more law firms turn to digital marketing for attorneys. Specifically, they use online lead generation companies to find those new clients. One of the most critical yet underappreciated aspects of online lead generation for lawyers is lead disposition. In this context, lead disposition is marking the status of your leads as “closed as a sale” or “dead or disqualified.” The key to success in lead disposition lies in perfecting the feedback loop between the law firm and the lead provider. This article explores optimizing legal lead disposition and how it transcends the traditional classification of valid and invalid leads.
Binary distinction
Traditionally, leads have been classified simply as valid or invalid, based on their immediate viability as clients. Valid leads are considered those likely to convert into clients because they meet straightforward legal and contact criteria. Invalid leads, such as those with incorrect contact information, are discarded. Consequently, lead providers have typically focused on this binary distinction. 4LegalLeads.com is an industry leader, using state-of-the-art validation technology to filter web leads and prescreen live calls to deliver superior quality leads. Furthermore, 4LegalLeads.com stands out from its competitors because it has always provided refunds for invalid leads. Sadly, some lead providers don’t even bother to distinguish between valid and invalid, and instead focus solely on pushing quantity. This kind of lead provider typically won’t allow returns.
Beyond the binary
The distinction of valid versus invalid is an important first step in lead disposition. However, relying solely on this binary approach oversimplifies the value of each lead and overlooks a critical piece of information – did it convert? Understanding and sharing the ultimate fate of a valid lead is essential. Did the lead close, is it dead, or could you not connect after multiple attempts? Did everything look good but the lead lost interest or did you choose not to sign up the case? Consistently providing feedback to your lead provider on which leads are closing and which leads are not (and why!) is essential for sustained growth.
Focus on what is working
A successful legal marketing campaign is not only about removing what’s not working, but also about doubling down on what is working. Moreover, the effort is only worth it if your lead provider has the capacity to use that feedback to get you better and better leads. A lead provider with state-of-the-art attribution is able to analyze the clients that you mark as signed and get you more of them. 4LegalLeads.com believes that 100% attribution combined with law firm feedback is the key to optimizing your law firm marketing dollars over the long term.
A positive impact on relationships
Developing a systematic focus on lead disposition can also have a positive impact on business relationships. Providing consistent feedback to your lead provider demonstrates your commitment to working together to achieve success. The result? You build trust and transparency over the long term. Moreover, law firms that get in the habit of lead disposition can experience better in-house communication, with fewer leads falling through the cracks.
Measuring financial wins
Finally, providing feedback on leads that convert helps provide a clear return on investment (ROI) for your advertising efforts. When you track these leads, you can determine your cost per acquisition (CPA). Comparing the CPA to the lifetime value of the client allows you to calculate the ROI of your advertising spend and optimize your budget. Firms that take this broad view understand that while not every lead converts, overall conversions lead to growth.
Closing the feedback loop
At 4LegalLeads.com, we make it as easy as possible to communicate dispositions. Our Interactive Partner Portal allows you to update the status of any lead with a simple click of a button. Not only can you return invalid leads, but you can communicate which leads are retained, processing, in follow up, dead, or still waiting to connect. Plus, our dedicated Account Team is available to help. The result? We can optimize your campaigns daily by moving attorney marketing budgets to campaigns that yield leads that close for your firm. Continuously fine-turning campaigns improves your closing rate, saves you time, and boosts your ROI.
Choose growth
In conclusion, perfecting the feedback loop in lead disposition is a multifaceted process that requires a strong partnership with your lead provider. Optimizing advertising efforts is about much more than just identifying valid or invalid leads. By broadening the approach to lead disposition, law firms can achieve higher conversion rates, improve ROI, lower CPAs and build long-lasting client and provider relationships. Remember, your choice of lead provider determines your ability to optimize your lead dispositions. 4LegalLeads.com has the advanced disposition systems in place that law firms need to achieve sustained growth.