Attorney marketing has become so competitive, pushing attorneys into exploring different ways of attracting potential clients. Today, smart lawyers are heavily dependent on the lead generation process since it helps them attract potential case leads, increasing the chances of acquiring new clients. The ultimate goal in the attorney lead generation process is to attract leads, qualify them and turn them into high-paying clients. Many attorneys reach out to self-proclaimed legal lead generation companies thinking they will access highly qualified exclusive attorney leads, only to be disappointed. These leads are usually sold to only one attorney. It means that an exclusive lead is only yours and yours alone. It can never be resold to another lawyer because you literally own the prospect. One of the greatest benefits of working with exclusive attorney leads is that you don’t have to worry about another lawyer calling the same lead you received from your lead generation partner.
Non-exclusive leads are also known as shared leads. They are the exact opposite of exclusive attorney leads because they are sold to more than one attorney. Depending on the lead generation company, a single lead can be sold simultaneously to three to five law firms. So, how does that impact the prospective client? For the same money you would have spent on exclusive attorney leads, you can pay less to acquire a higher percentage of leads, which means you do a better job of converting prospects into prospects. That isn’t all as a marketer, you should be aware of the fact that many lawyers are taking advantage of the “buy now, pay later” practice. In fact, since nearly every attorney wants his or her law firm to be a success, they sometimes are willing to pay a premium for marketing leads in the hope of collecting a higher ROI and better-than-market rate for a long-term relationship. Therefore, if you are trying to maximize your ROI, you may find yourself prioritizing the list of your potential leads over other higher-performing targets.
Let’s put it this way: You are extremely valuable to your lawyer and the firm, so they offer you the highest ROI per lead. You accept this, knowing it’s a trade-off to have your law firm thrive. If you don’t make this trade-off, and are only making leads with the prospect’s best interest at heart, you’ll simply be wasting your time and money. Before you decide whether you should invest in this market trend, be sure to ask yourself these two questions: Can I expect a significant ROI? Can I gain quality results with a smaller investment?
Legal lead generation is an industry in its infancy. To provide this review, Exclusive Leads Agency included only a fraction of the great resources on the topic. Remember to investigate individual companies and consult with individual attorneys to determine whether an option suits your needs best. Although most companies boast superior financial results, it is important to realize that a whole profession of attorneys is dedicated to helping others. Many attorneys have great ideas, but few know how to execute on them. As you invest in this opportunity, you will be working in the best interest of all attorneys and the profession.