Watch the YouTube version of this episode HERE
Are you a law firm owner looking for advice on how to make your firm more lucrative? In this episode of the Maximum Lawyer Podcast, Tyson interviews Ted DeBettencourt, a JD/MBA and a business owner. Ted shares his journey from Martha’s Vineyard to legal tech entrepreneurship, discussing the island’s unique culture and his transition from law to business.
To run a successful law firm, it is important that certain processes are in place and run efficiently to turn a profit. An important thing to implement is to ensure there are more staff over auto responders and AI for Local Service Ads (LSA). LSA’s will rank firms based on response times and this can affect how people perceive your firm at the first click. If your response time is slow, most people will not call you for help. Using real people to answer leads and call prospective clients will ensure you get off on the right foot with people who are looking for legal support.
Ted and Tyson chat about the three most important marketing metrics for a successful law firm. The first metric is wanted leads. It is important to know how many leads are actually wanted, in which a firm will be interested in taking on. The second metric is signed rates. Out of the wanted leads, how many of them were signed on as actual cases for the firm. This will determine how successful a firm is when it comes to the number of cases that are taken on and it can show value. The third metric is average case value. This can be determined by how much a firm makes in a year based on the type of cases. Ultimately, the average case value will let someone know how successful a firm really is.
Listen in to learn more!
05:25 Google Local Services Ads (LSA) and Lead Response
06:49 Manual vs. Automated Lead Response
07:46 Importance of Fast Lead Response
09:20 AI vs. Human Chat: Present and Future
10:37 Human Connection in the Age of AI
11:26 Regulations and Human-Only Policies
23:14 What Sets Successful Law Firms Apart
25:54 Key Marketing Metrics for Law Firms
Tune in to today’s episode and checkout the full show notes here.
Connect with Ted at JuvoLeads:
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