Avvo Webinar: Lead Conversion Strategies with Stephen Fairley
Transcript of Avvo Webinar: Lead Conversion Strategies with Stephen Fairley
15+ WAYS TO DOUBLE YOUR INTAKE & CONVERSION
IN 90 DAYS OR LESS
ByStephen Fairley
The Rainmaker Institute®
CEO of The Rainmaker Institute—the nation’s largest law firm marketing company that specializes in helping small to mid-sized law firms improve their intake and double their lead conversion
Developed the first automated lead conversion follow-up system for attorneys
Coached, trained and spoken to more than 10,000 attorneys
Nationally recognized expert on internet marketing, blogging, and social media for attorneys
Academically trained as a Clinical Psychologist International best-selling author of 12 books
and 10 audio learning programs World traveler: Visited over 35 countries and
taken 15 cruises
www.TheRainmakerInstitute.com
ABOUT STEPHEN FAIRLEY
Lead Conversion
Convert more prospects into paying clients
Browsers into buyers!Rapidly increase revenues!
3 CRITICAL AREAS FOR ATTORNEYS Lead Generation
Very expensive Never ending process Costs more every year
Client Retention
Clients for Life! Repeat business Repeat referrals
Lead Generation
Client Retention
Lead Conversion
HOW LAW FIRMS SPEND THEIR MONEY
Lead Generation
Client Retention
Lead Conversion
Goes way beyond using tracking phone numbers!
Starts with the initial contact with your law firm
Moves through identifiable stages
Continues on until they sign up as a client
Is significantly influenced by your behavior!
LEAD CONVERSION
Define what a “LEAD” is What is and is not counted as a “Lead” Who counts the “Leads” Avoid arguing about what a “qualified” lead is...
Here’s how we (TRI) define a “Lead”: Someone who has never done business with you
before (vs a repeat client) Someone who expresses an interest in your services Everyone who contacts the firm via email, live
chat, phone, social media, personal referral, internet, networking event, seminar, etc
TRACKING YOUR LEADS
5 STAGES OF LEAD CONVERSION1. Number of Leads into the top of the funnel
2. Number of Leads Who turn into Appointments
3. Number of Appointments Who Show Up
4. Number of Appointments Who Sign Up at the IC
5. Number of Appointments Who Sign Up Later
These are before and after results from an actual law firm!
Based in Florida with 7 attorneys and 17 staff Practice areas: PI, Med Mal, Criminal, Family,
Bankruptcy, and some Mass Tort Marketing: multiple websites, TV & radio ads,
blogging, buying leads, bus ads and seminars Doing over $5M in annual revenues
When asked about lead conversion, the Owner commented they were doing “Excellent and didn’t need any help.”
ACTUAL CASE STUDY
What kind of conversion problems do they have?
Conversion Problems:1. Major problem with “No
Shows” (29%)2. Poor Conversion at the
IC (32%)3. No Follow Up after IC4. No one converts 96%
of Leads into Appts!
11% Overall Conversion!
Up From 7%!
Up From 29%!
32% Overall Conversion!
Rainmaker Lead Conversion System Results
Up From 17
Total Number of New Clients:
77!
Currently, here is what your follow up looks like…
FIX YOUR FOLLOW UP!
10 Ways to Turn Leads Into More Appointments
Stage 1 Stage 2 1. Institute the
“5 Min Follow Up Rule!”
Research based on 3.5 Million
leads from over 400 companies
(by Velocify.com)
Another study found internet
leads convert 22X higher when followed up with in 5 mins!
HOW TO IMPROVE YOUR CONVERSIONS
HOW TO IMPROVE YOUR CONVERSIONS
10 Ways to Turn Leads Into More Appointments
Stage 1 Stage 2
2. Never make an Attorney responsible for follow up!
3. Train a staff person to follow up at first. When you get over 50 leads per month, hire a dedicated Client Intake Specialist!
4. Give that staff person a performance bonus to set appointments who show up.
HOW TO IMPROVE YOUR CONVERSIONS
5. Call every lead a minimum of 6-8 times before giving up!
6. Call 3 times the first day to increase conversions
HOW TO IMPROVE YOUR CONVERSIONS
7. Script every voicemail, test results and verify calls are being made.
Test your voicemails matters to improve results
Is there a word or phrase you could change to dramatically increase your call back rate?
HOW TO IMPROVE YOUR CONVERSIONS
8. Send 5 educational emails via autoresponder, in addition to the calls.
Leads who receive emails have a 16% higher chance of being contacted by phone!
The 1st email should go out ASAP to increase conversions!
HOW TO IMPROVE YOUR CONVERSIONS
A recent Velocify.com study found:
You can convert up to
of your leads with consistent, long-term email follow
up!
HOW TO IMPROVE YOUR CONVERSIONS
40% More
9. Don’t quote prices over the phone!
It only encourages price shopping
It doesn’t allow you to BUILD VALUE 1ST
It reinforces how you are the SAME as everyone else
HOW TO IMPROVE YOUR CONVERSIONS
$$$
10.Don’t try to close over the phone!
3 Goals for every call: Assess the Quality of the Lead vs DNQ
Show Empathy and Build Rapport
Set the appointment!!
Bonus: Call back hang ups! (convert up to 3% more)
HOW TO IMPROVE YOUR CONVERSIONS
HOW TO IMPROVE YOUR CONVERSIONS
The Ultimate Contact Strategy
Our recommendations may change based on: your practice area and how quickly your average client makes a buying
decision!
By Velocify.com
The average gain in conversion by attempting the calls at the recommended times is 49%!
When combined with the average gain that can be expected by also sending targeted emails at the recommended times, this strategy can result in a Net Conversion Improvement of
128%!
These findings are based on research from Velocify.com and studying 3.5 Million calls from over 400 companies. Results will vary significantly and are not a guarantee of results.
HOW TO IMPROVE YOUR CONVERSIONS
That means that you could
More Than Double Your Revenues
by keeping everything the same and simply
implementing this response strategy!
These findings are based on research from Velocify.com and studying 3.5 Million calls from over 400 companies. Results will vary significantly and are not a guarantee of results.
HOW TO IMPROVE YOUR CONVERSIONS
$$$$$$
10 Ways to Improve “Show Ups”Stage 2 Stage 3
1. Send an immediate email confirmation with the details.
2. Include a map, driving directions & photo of building in your email.
3. Send a “shock and awe package” in the mail.4. Have a staff person call them the day before
and the day of.5. Call them 10 mins after they don’t show up to
reschedule.
HOW TO IMPROVE YOUR CONVERSIONS
10 Ways to Improve “Show Ups”Stage 2 Stage 3
6. Never be rude or mean if they don’t show! Assume something happened in their life that prevented them from coming.
7. Call a minimum of 5-7 times after missed appointment before giving up.
8. Script every voicemail and test results. 9. Track to verify calls are made.10.Send 4-6 Autoresponder emails in addition to
calls.
HOW TO IMPROVE YOUR CONVERSIONS
7 Ways to Sign Up More People at the Initial Consult
Stage 3 Stage 4 1. Role play with everyone who does consults &
train them how to overcome common objections.
2. Track your results by attorney. If you have multiple people doing consults track their results individually!
Managing Partner 45%
Associate 1 48%
Associate 2 & 3 7%
Average DNQ (Does Not Qualify) = 35%
Intake Person 1 DNQ = 85%
HOW TO IMPROVE YOUR CONVERSIONS
~220 ICs
~30 ICs
~120 ICS EACH!
7 Ways to Sign Up More People at the Initial Consult
3. Proactively answer the question, “Why Hire Us?”
4. Empathize over their situation! Pay attention to their emotions!
5. Tell them why they cannot handle it by themselves.
6. Use case studies & testimonials they can relate to.
7. Directly ask for the business. Make it clear you want their business.
HOW TO IMPROVE YOUR CONVERSIONS
How much $$$ are you losing right now because you don’t have a Lead Conversion System?
Do you want to double your revenues this year? Lead Generation is the Most Expensive way to
double your revenues! Lead Conversion is the Most Efficient way to
double your revenues! You can double your Lead Conversion rates in a
matter of months! Stop throwing your money away on more
leads!!
LEAD CONVERSION IS CRITICAL
How good is your intake?
- We will secret shop your law firm and give you a report card
- Based on 5 major areas
- Discuss the results with you and give you specific ways to improve
- Plus FREE DVD on “Top 10 Strategies to Triple Your Conversion Rate!”
YOUR NEXT STEP!
http://bit.ly/shopmyintake
Thank You!
Stephen Fairley The Rainmaker Institute®
888-588-5891
http://bit.ly/shopmyintake