How to Take Ownership of Your Leads
When you get a lead, what do you do with it? Your answer reveals whether you RENT or OWN your leads.
This may be a concept you’ve never considered or even heard of but it’s an extremely important concept all the same.
Today we want to jumpstart this concept for you and get you thinking about how to own your leads, no matter what stage you’re at in your law firm.
What it Looks Like to “Rent” a Lead
Much of the marketing law firm owners do is encouraging people to visit their website. Even firms that rely on referrals know that those referrals will check out their firm online.
The problem is, many firms are wasting their money by not doing their advertising and marketing right. They just send people to their homepage and leave it at that. People land on their marketing assets, specifically their websites, and then just leave.
This is what it means to rent your leads. When people find you on Google, Facebook, LinkedIn, or by listening to a radio station or driving by a billboard, you’re just renting them for a brief moment. Then they move on and you don’t have their name, email, or phone number. You’ve lost that lead forever.
What Does it Take to Own My Leads?
On the other hand, when you own your leads, they arrive at your website and you get some information about them. Once you have a lead’s name, email, and phone number, you now own that lead. You have the power to follow up with them and keep them in your network.
Maximize Your Yield
There are so many benefits to owning your leads. The biggest of them is that you maximize your yield.
To use an example to explain this concept, let’s say you spend $100 to get a visitor to your website. If they just leave, that $100 is gone. However, if you spend $100 and then do something to get a lead’s name, phone number, and email address, you can start following up with them. This increases the yield on the $100 you spent.
At this point, you’re likely wondering how you can actually go about getting all of this information from leads? The answer is in lead magnets.
Creating lead magnets is as simple as providing things you likely already provide to people once they’re clients.
Let’s say you’re a divorce attorney. You probably provide your clients with a checklist of things to think about before telling their kids about the divorce. Now, consider taking resources like this and putting them on your website in exchange for an email address. This lead magnet will probably take you 15-30 minutes to prepare but the return it will provide is exponential. It takes you from renting to owning your leads as you now have the information you need to follow up with them.
If you’re doing paid advertising, don’t send leads to your homepage. Instead, send them to a landing page that contains the lead magnet you created. This leads magnet should address the particular problem that matches the ad that brought the lead there. The leads are drawn to the ad because you’ve promised to solve their problem. Therefore, they’ll be interested in your lead magnet as well.
Once you start guiding all leads to your lead magnet, you’ll start taking multiple emails, phone numbers, and names. This will allow you to build a database of leads that you now own.
If you want to learn more about moving from renting to owning your leads, check out Episode 022: Do You RENT or OWN Your Leads?