Transcript
A (0:03)
A lot of firm owners think they have a lead generation problem. They think they need more traffic, more calls, more volume. But when we look at the numbers, the truth comes out. You already have the leads, you're just not converting them. Today we're talking with Michael Patrick Strouch from your practice. Mastered. We're breaking down how to build an intake machine that actually scales, how to run a 96 hour test for new hires, and why stepping out of the closer role is the only way to grow. This is Personal Injury Mastermind. I'm Chris Schreier, founder and CEO of Rankings IO, the elite performance marketing agency for personal injury law firms. Let's get into it. You know, over the last five years, you've helped firms generate over $20 million in additional revenue just by optimizing intake and closing processes. So, you know, let's start with the win. What's a specific firm breakthrough that comes to mind that you'd like to share?
B (0:51)
So I've got one in my head. I'm not going to share the exact figure amount just because they've asked me not to disclose the exact figure. We've got a criminal and an immigration firm down in Georgia and they started with us at about a 30% close rate. And at the time they had a very small non attorney sales team and we were working with them. And in the last six years of working together, they've now added multiple seven figures in additional gross revenue, which has been an exciting win for us. That's one that just comes to mind right off the bat. Incredible firm down there.
A (1:25)
Let's go.
B (1:26)
Yes.
A (1:27)
It's so amazing to get that, that fulfillment right? You, you, you help, you help the client make more money and, and they can see it. It's sometimes marketing, you know, with what we do, it's the attribution can be murky. It's like, hey, is this brand, is it, is it this channel or that? So talk to me about the lead gen side first. You know, so most attorneys, you know, they struggle with pipeline generation. Is it pipeline generation or is it just lack of clarity and maybe they're just not closing the actual opportunities they have?
B (1:54)
Well, it's the great question, right? Because a lot of the law firms we have conversations with feel like they've got a lead generation issue, they don't have enough leads. But then you run the numbers. We always say the numbers are the truth, right? That's your source of truth. And you run the numbers and it's like, well, let's just take a step back for a sec, we have enough leads, it's just we're not converting enough of the leads we have. I would say that 80% of the law firms we talk to fall into that category where they have the lead generation, but they feel like they've got a marketing problem because they're not seeing the net clients as a result of the leads that have been generated. And so I think one of the thing that's always helpful because firms always ask me, well, okay, that's great, so what should the numbers be then? Right. How do I know if I've got a conversion issue? And so the average benchmarks we've seen across just about all practice areas is you get leads you should turn somewhere between, depending on if they're paid or free consults, somewhere between 65 to 85% of those leads into set consultations. We should get 65 to 85% of those to show up to their consultation and then we should be able to close. Of the people that show up to the consultation, 60 to 80% of those.
