In my experience, lawyers will happily spend money on marketing if it works. Unfortunately, the effectiveness of marketing has long been a matter of intuition. Most law firms lack meaningful metrics connecting marketing with client intake numbers. Without this data, law firms tend to make strategic marketing decisions based on what they see their competitors doing, rather than actual effectiveness. This is changing.
The State of Law Firm Analytics
Tracking law firm analytics is an increasingly big part of our job at Skunkworks. We ultimately want to track how prospective clients or referring professionals engage with the firm’s online presence. Our methods have been improving and we can now provide enough visibility for management to track goal conversions (e.g. phone calls, contact form submissions, e-mails) and determine where these conversions originated. Being able to monitor these points of contact is a big improvement over intuition.
The Missing Data
While phone calls are good, lawyers are in the business of paying clients. What we really want to know is who connects with the firm, the value of these leads, the number of these leads that turn into clients, and where these leads originated in the broader referral/marketing context. Traditionally, the paper-based client intake process involved obtaining contact details for the client and a brief description of the matter. This paper would then be passed along to a lawyer. Such ad hoc systems provide very little management oversight into how the firm is generating business. This forced law firm managers to focus on simplistic accounting measures to assess business development performance.
We now have access to a new platform that finally modernizes law firm client intake processes:
Lexicata is a dedicated client intake and customer relationship management platform (CRM) built for law firms. It manages everything from the initial point of contact up until the person or business becomes a client. This data can then be passed along into the practice management system (e.g. Clio). The legal industry has been missing a dedicated CRM for a long time. “Sales” is hardly black letter law.
For our purposes at Skunkworks, Lexicata helps us establish the value to the firm for the marketing campaigns under our management. We can see what is working and, more importantly, what isn’t. I am also using Lexicata for my own firm as a proof of concept for our law firm clients.
While these are early days still, the very existence of Lexicata will push more law firms to behave like modern businesses. Dare we entertain such scandalous thoughts?
For more information on Lexicata, see their website or take a tour via the video embedded below: