According to Reuters, this year, bankruptcy surged by 41%, driving up bankruptcy lead costs and making it crucial for attorneys to understand the cost of bankruptcy leads. However, while bankruptcy may be prevalent, finding leads ethically online remains a challenge for law firms. Here’s how we find bankruptcy leads for attorneys at Comrade Digital Marketing, how to determine what they should cost.
Accelerate lead generation with our expert solutions
How Comrade Helped This Lawyer Get More Leads [Case Study]
Estate planning marketing is one of the most highly competitive segments for law firm SEO. In LA, alone, there are over 12 million web pages you must outdo to rank on top of search results.
For your legal practice to thrive, your website must rank high in organic search results. High visibility is necessary, or else potential clients won’t be interested in your services.
So, if your objective is expanding your legal practice and helping people, you need professional help to achieve it.
The good news is that Comrade can help.
We specialize in SEO for Estate Planning Lawyers and attorneys in competitive markets to rank for the most coveted keywords.
How Are Bankruptcy Leads Generated and What’s the Cost per Lead?
Regardless of the industry, we follow the same principles for lead generation for our clients. To generate leads the right way, we take a careful look at your brand and vision to ensure the tone and messaging of your online assets resonate with your firm’s ethos.
Our lead generation is digital as an legal digital marketing agency, which is often an overwhelming process for older firms familiar with offline methods. We use PPC marketing for lawyers, organic search strategies and social media marketing to lead prospective clients further down the buyer’s funnel.
For example, if a potential lead clicks on a targeted Facebook advertisement, then they are directed to your website, whereby they are asked to fill out a form for a free consultation at your firm. This lead generation marketing tactic offers potential clients a valuable service in exchange for their details. And, it needn’t be a free consultation, it can be simpler like an online e-book, for instance.
Attorney lead generation tactics like this can provide valuable information about potential bankruptcy leads, including debt levels, their reasons for bankruptcy, and whether they already have an attorney to help. In addition, it’s possible to target individuals in your area or those filing for different types of bankruptcies. The possibilities are endless.
When it comes to cost per lead, there isn’t a magic number. The first step is to use a cost per case (CPC) formula to determine how much you are spending to acquire a client: CPC = budget spent on a marketing channel divided by the number of new clients acquired.
Now, this number is difficult to determine, as a desirable cost per case is dependent on how much revenue a single client brings. As a rule of thumb, you should be spending around 15% of your expected case settlement per client, which invariably varies from attorney to attorney. Firms that retain more clients will naturally have larger marketing spending.
It’s impossible to determine from the outset whether the cost is worth it. Therefore, there is always an element of strategic testing that goes into lead generation. Needless to say, with detailed analytics, we consistently refine strategies based on real-time data, and the foresight that comes with over ten years of experience allows us to predict fairly accurately what will work best for each online channel.
At Comrade Digital Marketing, we know that gaining quality bankruptcy leads at competitive law firm leads pricing is challenging, and that boosting revenue requires the right team and strategy that understands your firm’s business goals. In addition, we know every dollar counts, and firms expect a guaranteed return on investment.
As a specialist in bankruptcy marketing for lawyers that’s helped average clients see a 4.5x ROI, we have the expertise and resources to help your firm improve its revenue. Contact us here to find out more about generating bankruptcy leads for attorneys.
Ivan Vislavskiy is Comrade Digital Marketing’s co-founder and fearless leader, spearheading the agency’s production department.
Digital Marketing Performance Audit
Unlock a full potential of your website. See which gaps in your marketing don’t allow your organization to scale. Get a complimentary, no obligation marketing performance review.
