Before you implement any significant spend on any Direct Marketing campaign, it is equally important to consider how the enquiries from prospective clients, generated by your activity, will be handled.
Direct marketing enquiries are very different to referred cases because the investment to attract the enquiry has already been made. Whilst you will still risk assess the prospects of a clients success, that risk assessment needs to made purely on a prospects, WIP and disbursement cost basis, and not on a cost per acquisition basis.
In simple terms the question to be asked is “why shouldn’t I run this case, I’ve paid for it” rather than “should I pay for this case and run it.”
Therefore, a key part of the success of any new Direct Marketing initiative will depend on how quickly you can change your mindset and ethos, in terms of dealing with direct enquiries.
Most importantly prospective clients demand a rapid response and this is critical to take them out of the market and away from your competitors.
Unlike referred cases, you will need to deal with all the enquiries generated, as there is no process for vetting or pre-screening. Our experience tells us that somewhere between 5% and 15% of initial enquires will convert into cases, depending on the marketing source. At 10% conversion, that would mean that you would need to handle 500 enquiries a month to generate 50 cases.
For most firms this would probably represent a significant increase on the current number of enquiries being handled and requires serious consideration in terms of establishing the infrastructure to deal with this model.
In addition many of the enquiries will be outside traditional hours and a many will have allotted Call back times.
The obvious solution, recommended by prima Legal marketing, is to outsource the enquiry handling function, and PLM already has arrangements in place with a significant UK based Call Centre operation, dealing with blue chip clients like Tesco’s and Sky, and also a number of major solicitor firms, including Eversheds, DLA Piper and Freshfields for example.
So before we embarked on any Direct Marketing Plan, we would have to review your Enquiry Management systems to ensure that you had the infrastructure in place to cope with an increased volume of enquiries. Without an effective system in place you would be in danger of losing the new client opportunities being created from your Direct Marketing activity, which would ultimately undermine the commercial success of any campaigns.
If you are interested in discussing ways to improve or implement new Enquiry Management systems, please contact us today and we’ll be happy to discuss your requirements in more detail.