How criminal defense attorneys can lower and keep cost per client acquisition low
Law firms and freelancers can easily reduce and keep their client acquisition costs down. The way to do it is easy: register more clients! Let’s say ‘Lawyer A’ spends $5000 a month on advertising and signs 5 clients as a direct result. Each client ends up costing $1000 to obtain. He will still make a profit on each client, but not as good as possible.
Now let’s introduce something new into the equation: Let’s say ‘Lawyer A’ invests $500 more in his advertising budget and signs 5 additional clients. She is now spending $5,500 and getting 10 customers for a new customer acquisition cost of $550. A 50% decrease in cost per customer acquisition with only a 10% increase in ad spend. Spending an additional $500 ends up saving ‘Lawyer A’ approximately $5,000. How is this possible? Just increase your advertising by a small fraction and spend the increase with a different advertising service.
In today’s economy and marketing environments, it’s very important to stay on top of trends and invest your advertising budget wisely. Don’t become an advertising dinosaur, relying solely on old tactics over a long period of time and hoping things will get better. Big companies have to constantly innovate and change the way they market to the consumer. Criminal defense firms and lawyers must do the same.
Albert Einstein said it perfectly: “Insanity: Doing the same thing over and over again and expecting different results.”
