More and more consumers rely on the Internet for information. For a law firm, digital…
Positive word-of-mouth can exponentially drive your law firm’s sales when leveraged through a referral marketing strategy. It’s a well-known fact that a wide variety of industries believe positive word-of-mouth is the lowest cost and most effective way to generate brand awareness, new leads, and sales.
What is a Referral Marketing Strategy?
Referral marketing is when a business rewards clients, influencers, and affiliates for referring their products or services. A referral strategy is a marketing tactic that uses recommendations and word-of-mouth to help a business grow its customer base through existing customers’ established network. Your business’s referral marketing strategy can take many forms, but it’s a way to get your clients to help spread the word about your law firm.
What are the Benefits of a Referral Marketing Strategy?
Implementing a referral marketing strategy for your law firm can optimize your sales cycles, generating qualified leads that will maximize your firm’s sales funnel. Instead of cold calling or generating new leads from scratch, referral marketing can further increase your return on investment (ROI) and drive your marketing efforts.
↠ Read more. 5 Strategic Ideas to Generate Leads ↞
A referral marketing strategy is an opportunity to increase your outreach by using your clients as your firm’s advocates. Compared to traditional advertising methods, there are no limits to your current clients telling a friend or family member about good service or company. Most people have diverse connections allowing your law firm to expand your reach to a new client base with customer referrals.
Gain Qualified Leads
Gaining new customers can be an expensive challenge for any business, but it doesn’t have to be if your firm uses a referral strategy. People that have learned about a product or service from their peers and typically have a favorable opinion of your business because a friend or family member has referred them. These leads are more likely in the market for your firm’s services because they have expressed interest in similar services to their peers as well.
Spread Brand Awareness
Referral marketing can be a big influencer for building your firm’s brand awareness. HubSpot reported that 49% of U.S. consumers say friends and family are their top brand awareness sources. The more your clientele talks about your firm’s services, the larger your reach becomes. Also, generating brand awareness through a referral marketing strategy is more likely than not to turn into business preference when seeking legal advice.
Establish Authority and Trust
When your clients tell their friends or family about your law firm, your business is gaining valuable exposure. Referrals also inspire trust and authority in your firm as your clients share their positive perspective of their legal experience. If your firm has a database of satisfied clients, leveraging their connections can help your law firm establish authority and trust in your legal services in the community.
If you’re ready to take the next step for your law firm, Law As a Business (LAB) Services can help. We work with elder law and estate planning firms on all aspects of marketing, including referral marketing strategies to help your firm grow.
Learn how you can increase your ROI.
Posting relevant content, maximizing SEO, keeping your website current, managing email campaigns can be overwhelming. Having an integrated marketing strategy will increase your return on investment and give the marketplace a clear picture of the services you provide. Your message can impact potential clients and referral sources with an integrated marketing strategy. We’ll show you how.