Understand Bankruptcy Attorney Marketing To Get Leads
You probably didn’t choose to become a bankruptcy attorney to figure out how to get bankruptcy leads. Unfortunately, because most bankruptcy firms are small businesses, you have to figure out how to get people in the door.
Unlike other types of industries, most people may not be talking to their co-workers or friends about their financial difficulties. So, your word of mouth referrals may be lower than other industries. So, how exactly are you supposed to get new clients?
Well, there are a plethora of different ways from free options to paid versions, so the goal of this article is to provide some clarity to that question.
Understand Bankruptcy Leads
When we talk about bankruptcy leads, we are referring to those individuals who are actively searching for bankruptcy. Many of these individuals submit a form on your bankruptcy website or you may have purchased a bankruptcy lead from a bankruptcy lead service. Regardless, these are individuals who are searching for bankruptcy and have an intent to either learn more about bankruptcy or file bankruptcy.
How To Get Bankruptcy Leads
When you search how to get bankruptcy leads, you will find a plethora of different ways to get bankruptcy leads. Let’s go through the list of different options you can choose from.
Search Engine Optimization: Search engine optimization is the strategy where you would write content or other material. Your goal is that Google ranks your content and that you will get bankruptcy leads from people in your area reading that content.
Search engine optimization is difficult because there are many big players in this space. You can attempt to localize your search to a specific state or city. Google needs to think that you are relevant to bankruptcy to provide search access. Google also cares about the quality of your content. That said, you can often receive bankruptcy leads when you rank for the right keywords on Google. It’s not always easy.
Word of Mouth: Word of mouth does not just apply to someone referring to a friend. You can also utilize other attorneys who don’t practice bankruptcy law. Sometimes these attorneys may have bankruptcy leads to provide.
These word of mouth arrangements may be paid or free. It often depends on how you work out the arrangement with the other attorney
Google Business Local 3-Pack: Getting in the Google 3 pack will allow people locally to search for you. This is similar to Google search, except this refers to Google maps.
Google Ads: You can pay Google for ad space where you would show up on the top or near the top of the search page. You generally will have to pay per click. Many bankruptcy attorneys use this service for bankruptcy leads. The challenge can be the complexity of the Google ads interface. It can be a learning curve, and an expensive one at that.
Facebook Ads: Facebook allows you to provide content that people can view through scrolling Facebook or Instagram. I have not had a lot of success on Facebook for bankruptcy marketing. They do provide a service called a look alike service that will allow you to find others who look like other audiences to advertise to. I have not had much success getting bankruptcy leads through this avenue.
Bankruptcy Lead Services: You can use services like Ascend Finance which gets bankruptcy leads through folks asking for a referral. Bankruptcy lead services often charge on a pay per direct or pay per connection. You can limit downside risk by a number of ways. The good thing about bankruptcy lead services is that you should be able to have a simple way to understand your cost per converted client. This is essential for bankruptcy leads that we will talk about more below.
Know How To Manage Your Marketing Spend
Many people file bankruptcy each year due to financial hardship. Even personal finance guru Dave Ramsey filed bankruptcy years ago.
Bankruptcy is also complex, so let’s go through how to manage your marketing spend. You will want to understand how much you are paying for each client in marketing costs. You do not want to spend $1000 and then yield $900 in attorney fees from a case. You would not be in business very long.
Thus, you should look at each marketing opportunity and measure how much you are spending for each client that files bankruptcy. You can do this in a variety of ways such as a spreadsheet or something else. It can be tricky sometimes in marketing to be able to “attribute” the spend to a source, but it’s important to do so.
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