Three Questions To Ask Before Purchasing Leads
Generating new inbound leads is one of the hardest aspects of law firm marketing. Smart attorneys everywhere can build an online presence that checks off all the boxes, yet still sees fluctuation in traffic and clients. That’s the nature of business; it requires patience and fortitude.
But weathering the doldrums isn’t a growth strategy. For some firms, purchasing leads is the right choice for their business. How do you know if it’s right for your law firm? If you answer yes to the following items, it’s time to contact a lead provider.
- Do you need them?
Some markets and practice areas can fluctuate wildly and disrupt your business. For law firms seeking some measure of insurance against these dry spells, purchasing leads can deliver a steadier stream of opportunities. That being said, you should work to make sure any downturns in business aren’t caused by an internal factor you can control. Don’t throw money at a problem without understanding the cause.On the other hand, some firms purchase leads in order to branch out into a new practice area or expand their client base. In situations like these, a bulk delivery of new leads can help them hit the ground running.
- Can you handle them?
Any increase in leads will mean an increase in legwork for you and your staff. Even if your leads don’t arrive by the dozens, can you ensure that you’ll be able to reach out to these opportunities with the frequency and volume they require? Like car shopping, consider the total cost of acquisition for these leads. The time spent reaching out to potential clients isn’t insurmountable, but it is required to ensure a reasonable ROI.
- Can you afford them?
Remember that we’re talking about purchasing leads, not purchasing clients. Investing in an attorney lead generation service is sound business, but only if you can afford the initial outlay and give it time to work. Like playing the stock market, this investment carries a degree of risk and the returns are far from instantaneous. Any lead provider will want your business, but the ethical vendor will advise you to be smart with your investment.
The bottom line: Leads are a fantastic business opportunity for any small law firm that has the proper need and capacity to handle them. Learn more about how to get the most out of your inbound leads in our free playbook, Legal Marketing 101 – A Guide for Small Law Firms.