Why You Should Test and Measure Your Marketing (EP 121)
In this episode, I am talking about one of my favourite topics! — Testing and measuring metrics in your law firm and why it’s so important!
I’ve talked to many law firm owners and most people aren’t testing and measuring their marketing or collecting data. Law firm owners should be collecting data and using the data to understand the metrics because it will prevent them from potentially throwing money away and not getting the results they desire with their marketing.
Testing and measuring the success of your marketing campaigns to see how your law firm's campaigns are tracking towards your law firm’s KPI or your goals is essential for your law firm's success.
To know for certain what you spend on each marketing activity and what the outcome of that spend is really important. It enables you to stop guessing and start running your business based on facts.
In my view, the only reason to spend money on marketing is to get a return on your investment. Marketing should be an investment rather than an expense, but how do you know if you do not measure it?
If you don’t test and measure your law firm's marketing activities you are exposing your firm to:
- Spending money on activities that don’t produce results;
- Putting effort and time into marketing campaigns but not knowing if they are worthwhile;
- Having uncertainty and unpredictability in the firm, which causes stress and makes decisions making difficult; and
- Not knowing what marketing works best for your law firm's market and where to focus your time and money.
There are two types of marketing that you can do, one is easier to test and measure than the other:
- Branding - It can be hard to measure your branding style marketing but it is important that you still do activities that can help elevate your brand. It is suggested that only 20% of your marketing efforts and budget go into branding activities.
- Direct Sales - You should be able to test and measure all your direct marketing such as paid ads, lead magnets, web conversions, radio, organic marketing and referral marketing.
So, here’s why testing and measuring are so important in creating more PROFIT and FREEDOM!
- You know what marketing works! I have been collecting data and testing and measuring marketing activities in my law firm since 2016. Implementing this strategy has made a HUGE impact on my profit as I am not wasting money on random marketing.
- No more guessing games! When you test and measure your marketing you are working on facts rather than your gut instincts. When we don’t have the facts we can end up throwing money out there on different law firm marketing strategies and seeing what sticks. This can be wasteful, painful and time-consuming.
- Allows you to save money - It made a huge difference to my profit margin because now I know what marketing activities give me the best bang for my buck. I don’t need to spend so much money or time on marketing that doesn’t work for my firm.
- Quality Leads - By capturing data you can tweak your marketing activities to get quality leads into your firm.
- Making your law firm revenue very predictable - When you collect data you will be able to work out how many phone calls convert to paying clients. You can also dig deeper and break down how each team member converts, and which marketing activity converts better. Further, you can calculate each of your different types of marketing activities to find out what the cost is to retain a client from each source.
- It gives you power and certainty - Nothing is left to guess, and you are now in control of your marketing outcomes.
The bottom point is — Everything becomes super simple and predictable!!!
Implementing it is really simple and can be done in a few steps.
This is what we teach you at the SCALABLE BUSINESS LOUNGE.
We really get into it and there is an entire module around data and how to test and measure. It allows you to save money and aim your marketing efforts in the right direction, allowing you to tweak the processes in your marketing.
At SBL we help you step by step how to:
- How to Attract Your Ideal Client
- Test and measure all of your data
- Systemise and automate your business where it doesn’t need you anymore.
SBL is an online program where we do live coaching. So, you get ME to help you grow your business and a whole community of incredible law firm owners sharing their experiences with you on the ride.
You can also check out my FREE MASTERCLASS for lawyers and law firm owners where I share How to implement 3 pronged marketing approach across three different marketing funnels.
If you are a go-getter and you want to create a change and make a huge impact in scaling your law firm then join me at the Scalable Business Lounge.
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