Are (search engine optimization) Your Lawyer Web Marketing Plans Competitive?
No commentsBy Chris Jenkins
Each year hundreds of millions of dollars are expended on legal services in the United States. The number of individuals working in the legal indusrty is also growing at the most rapid speed it ever has. The bottom line is that while there is great opportunity for attorneys, there is even greater saturation. That is why quality law firm internet marketing is so vital.
In this competitive landscape, the success of traditional advertising media have lost efficiency. Fewer and fewer people are responding to advertisements in the yellow pages. Joined with the fact that more people are using the internet to find attorneys, lawyer seo marketing can be an effective option.
While attorney internet marketing can produce tremendous results for a law firm, it can also absorb great amounts of your professional time without producing real results. This is when it becomes necessary to consider hiring lawyer web marketing firms. The truth is, that even attorneys who know some of the steps to take in managing a internet marketign campaign, need at least some support so that they are not spending their valuable professional time performing these tasks.
The plus side of this professional competition is that more attorney seo marketers are offering their services to solos and smaller law firms on an affordable basis. Historically, law firm net marketing services were only available to the larger players. Due to higher competition amongst law firm seos, and access to technological advances, law firm seos are able to perform their services in a much more efficient and economical manner.
It is important to bear in mind that not all law firm seo marketing services will produce the same results. In fact, many law firm seos are unscrupulous and take advantage of lawyers who unwittingly spend large sums of money without reaping any benefit. A couple things to look out for: seos that guarantee rankings (only the search engines can do that), seos that promise submission to search engines (you don’t even need to do this), seos that sell on directory submissions (this is a very small component of effective search engine optimization).
Effective law firm web marketing can help you grow your practice. Further, lawyers no longer need to make large investments in internet marketing to get results. Instead of blindly throwing money at programs that don’t produce results, use our guide to hire services that will work.
We are committed to offering important information about effective law firm internet marketing for their law firms. Please check out our library of FREE guides for various parts of lawyer internet marketing.
Smart PPC Makes Money
By ada thomas
You really need to understand the goals of your pay per click campaigns
. You want to know how many clients you want to try to add and how much you can give to pay to obtain each new customer. If you don’t know what a new client is worth, then that is something you really need to find out. Otherwise, you’re shooting in the dark.
As trained search engine marketers, we have customers asking us to make X sales per day or per month while spending Y dollars. This is a complicated state of affairs because it often means we want to get clicks as inexpensively as possible while maintaining a specific level of conversions. The thing that makes this a difficult situation is that as click bids go down, often conversion rates go down as well. One reason is that to make low cost traffic, you often have to use content networks as well as search results, which are less targeted and convert at lower rates.
Nonetheless, to even tackle the problem we want to understand the numbers. Here is a very easy formula to calculate how much you can spend per click on your paid search campaign:
Cost Per Click = Amount You Can give to Pay Per client * Conversion Rate
OR
Cost Per Click = Average Sale * profit Margin * Conversion Rate
For instance, if you make $50 revenue per customer, on average, with a 50% profit margin, then you can afford to pay up to $25 to acquire a new patron. You would only break even at that rate, but at least you would gain a new patron and would have the opportunity to sell more products or services to that patron in the future. Assuming a conversion rate of 1%, then the numbers work out like this:
Cost Per Click = $25.00 * .01 = $.25
OR
Cost Per Click = $50.00 * .50 * .01 = $.25
So you now know that you can afford to pay a quarter per click. If you can double your conversion rate, then you can double your revenue or double your bids.
As you watch your pay per click campaign, you might find that certain products sell much better on-line than others. If this is the case, then you might want to re-work your numbers to give emphasis to the products that are selling. For example, let’s say you have the following products, which are selling via Yahoo! in the following proportions:
Product A - $25 profit per sale - 50%
Product B - $10 profit per sale - 10%
Product C - $40 profit per sale - 40%
Then your average profit per sale is as follows:
($25 * .50) + ($10 * .10) + ($40 * .40) = $12.50 + $1 + $16 = $29.50
Based on these numbers, you know that you can now pay up to about $.30 for clicks.
Or if there is enough traffic related to Product C, you might want to start allocating more of your budget for it and less for the other products, since it generates the most profit per sale.
As mentioned earlier, it may even be worth taking a loss on the first sale just to get the patron. If you know the lifetime value of your customers, then you can make this call. If you generally only do business with your customers a single time, then that is another area of your business you need to investigate - how to sell more to people who have already done business with you. This is where you should use vehicles like email, newsletters, blogs, etc. to create a community of customers who come to rely on you for information. It all comes down to creating a holistic, integrated marketing plan, and it starts with knowing your numbers.
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Thursday, February 18th, 2010 at 2:00 pm and is filed under internet. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
