How to generate more referrals via digital marketing
According to a 2014 ALPMA & JMA joint survey approximately 70% of Australian law firms see increasing their number of referrals and recommendations as a very important part of their future growth strategy.
Conversely approximately 60% of the same firms see digital lead generation as an unimportant part of their future growth strategy and only 10% view it as very important – ONLY 10%!!
Through our existing experience we know that this mindset is also typical of other professional services firms, particularly accountants and engineers.
Lets stop and think about that for a minute;
If 70% of your competitors are wanting to increase referrals and they are all fighting and fishing the same pool then (putting aside any overall market growth) some will have to lose in order for others to win right?
Interestingly, despite this most firms are going to focus on doing the same old things they’ve always done like brand building and awareness raising in order to achieve this growth
Putting aside the fact that this is the hardest marketing activity to measure it is also the game typically won by whoever spends the most money.
Yes I understand that for many firms referrals are the lifeblood of new business because they don’t have the relationship with the end client.
Digital can allow you in many cases to bridge that gap but what if you could leverage digital to actually generate more referrals when your competitors aren’t even contemplating it?
And what if this process was cheaper and easier than the traditional means and as a bonus negates your need to network?
What if it allowed you to target referrers that you would otherwise have had no chance of reaching or gaining their attention?
And what if it had nothing to do with Google Adwords or SEO?
Before you scoff and say to yourself “yeah right Jim, whatever…” let’s revisit Albert Einsteins well known definition of insanity.
So what are your other options?
- Milk the current referral network for more
- Pay higher commissions
- Run more events
- Go to more events
- Do more networking
- Spend more on entertainment
- Spend more on Adwords & SEO
- Update the website
- More BD training for partners
- Dream up some creative marketing campaigns
- Do some cold calling
The same as always just more of it – really is that all you’ve got, surely you’re better than that – what would Einstein think???
Highly targeted inbound digital lead generation via sophisticated content marketing can be just as effective to referrers as it is to end clients.
The bonus is all your competitors are asleep at the wheel (they told us all they were above) all too busy doing the same old stuff and making excuses not to do something new while calling themselves progressive at the same time – the opportunity is staring you in the face.
The choice is yours – to take the opportunity while its ripe for the picking or keep spending more and more money on what you’ve always done.
You know who to call if you want to learn how….
Do you run events as part of your marketing and/or client acquisition strategy? We have been running events since 2009 and back then they were on the hot topic of social media. Initially we had 15-20 people attend a 2 hour session for $45 and by 2012 we’d have 70+ people attend all day events…