As a Salesforce application, NuLaw was designed to be an all-in-one case management solution for law firms. We built a range of case acquisition tools into that software that deliver qualified, compiled cases directly to your law firm. Thus, NuLaw offers improved case acquisition among its many benefits.
We also built strong data collection and analysis tools into NuLaw, so you can actually measure how case acquisition is going. The only thing remaining is knowing what to measure. Measure the right metrics and you will have a very good idea about how well NuLaw’s case acquisition tools are working for your firm.
New Clients and Cases
The first thing that nearly every firm looks at is the total number of new clients gained and cases opened. Both are very strong indicators of how effective case acquisition strategies are. However, it is important to understand the numbers in context.
It’s a well-known fact in the business world that you spend less money and fewer resources keeping current customers happy as compared to acquiring new ones. Yes, new customers are necessary to foster growth, but long-term success lies in making sure existing customers remain loyal. This simple principle applies to law as well.
As such, law firms do need to keep track of the new clients. But they also need to track how many new cases are opened among existing clients. Clients returning time and again is a good indication that a firm is doing something right.
Acquisition Costs
Case acquisition can be a costly exercise. However, costs need to be contained so that they do not take too big of a bite out of budget. NuLaw’s case acquisition tools are designed to help firms understand all of the costs of landing new clients and opening new cases. Such data can prove invaluable for managing everything from marketing to client retention.
New Client Origination
In the old days, marketing a law firm was nothing more than hanging a placard outside the office. That old way of marketing was fine when there were just one or two law offices in town. We live in a different world today. It’s a smaller world, thanks to the internet and all things technology. As such, case acquisition involves everything from broadcast advertising and social media to billboards and printed materials.
Different marketing channels drive new clients to the law firm at different rates. So it is important to measure the origins of new clients. It’s important to know which marketing avenues are most effective at bringing new clients and cases to the office.
Client Conversion
Last but not least is client conversion. Conversion in the practice of law is very similar to conversion in the SEO field. In both cases, the goal is to convert potential clients into actual paying clients. Measuring conversion rates tells you just how good your marketing efforts really are.
In the SEO world, conversion rates are tracked and measured against those SEO strategies designed to get website visitors to make a decision before leaving the website. In the practice of law, measuring how many potential clients become paying clients helps the marketing department better understand how to get prospects to take that last step of coming on board.
As you can see, measuring the right metrics is a big part of understanding how well case acquisition strategies are working. If your firm’s case acquisition is not as productive as it should be, perhaps it is because you are not measuring the right metrics. Maybe you’re not measuring them at all? In either case, NuLaw can be part of the solution. Contact us to learn more.