3 Tips to Increase Your Law Firm Lead Conversion & Cash Flow

Lead Conversions Increase Law FIrm ProfitsIn previous videos with Stephen Fairley, CEO of The Rainmaker Institute, we defined what a lead is and discussed the 5 stages of lead conversion. 

In this video we’re talking about specific tips to triple your appointment rate (and convert more leads).

How would you like to increase the lead conversions in your law firm by 300%?  In this video Stephen tells us about study results that if you apply to your law firm will support in an incredible increase in lead conversion and cash flow.

Here are three tips that you can apply to your practice and that will have significant impact on your firm (would you believe 300%?)

1. Fix your follow up. If you fix your follow up, you’re fix your cash flow.

A research company analyzed 2 million leads from businesses across the nation, specifically looking at how long does it take from a lead generated off the internet to go from hot to cold.

In short, it’s 5 minutes! It takes less than 5 minutes from an internet lead to go from hot to cold (leads who are interested in your services but haven’t committed to hiring you).

If you don’t have a system in place to follow up with a lead within 5 minutes form when they send an email, left a voicemail or messaged you via your website chat, your closing ratio diminishes.

Companies who applied the 5 minute follow up rule saw a 300% increase in their conversion with just this one tip.

2. Never EVER EVER make an attorney responsible for follow up.

Attorneys have the best of intentions and intend to follow up but they just don’t. If you’re an attorney, you shouldn’t be following up; someone on your team/staff should be following up with that lead with the goal of booking an appointment for you.

3. Call back more than once

Typically what happens is a lead will be followed up with once  this is a horrible follow up plan.

Fix your follow up and you will fix your cash flow, guaranteed. If you can get to a lead in 5 minutes or less, you’re conversion goes up 300%.

Check out LawMarketing.com’s YouTube Channel for more videos and tips to support the growth of your law practice.

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Stephen Fairley

About Stephen Fairley

Two-time international best-selling author, Stephen Fairley is the CEO of The Rainmaker Institute, the nation's largest law firm marketing company specializing in marketing and lead conversion for small law firms and solo practitioners. Over 8,000 attorneys nationwide have benefited from learning and implementing the proven Rainmaker Marketing System.

A nationally recognized attorney marketing expert, he has been named, “America’s Top Marketing Coach,” and has spoken numerous times for over 30 of the nation’s largest state and local bar associations. Stephen has a large virtual footprint with his highly successful legal marketing blog and strong social media presence in Facebook, Twitter and LinkedIn.

He has appeared in Inc and Entrepreneur magazines, has authored 10 books, taken 14 cruises, and traveled to 33 countries. He resides in Phoenix with his wife of 17 years. Connect with him at: http://Rainmaker.MyLinkInvitation.com, www.Facebook.com/fairley , and @stephenfairley.

Website: http://therainmakerinstitute.com
Email: stephen@abc.com
More posts:View all posts by Stephen Fairley

2 Responses to “3 Tips to Increase Your Law Firm Lead Conversion & Cash Flow”

  1. Tim Bishop Says:

    Great video and I agree how bad lawyers are at following up. But who should follow up in a small/medium law firm? Should we recruit a dedicated call handler with no legal background?
    Tim Bishop, Bonallack and Bishop



  1. 3 Tips to Increase Your Law Firm Lead Conversion & Cash Flow - Legal Marketing News | Legal Marketing News - 03/19/2014

    […] View the article at LawMarketing.com – The Premier Resource For Information on the Business of Law here: 3 Tips to Increase Your Law Firm Lead Conversion & Cash Flow […]

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