In order to optimize your law firm's marketing activities, focus on a four-step approach, which includes establishing your goals, designing measurable programs, establishing metrics for those programs, and determining your successes and failures based on those metrics to plan marketing improvements. Metrics provide a glance into the past, present and future to weed out failures, realize successes and strategize future plans. Metrics can lead to growth, healthy margins, strong revenue and profits, steady cash flow, sound return on investment and overall marketing success! What are the "right" metrics?
First, imagine your metrics as a timeline, focusing on three things:
Backward-looking business performance metrics will tell you how you did last week, last quarter, last year.
Present performance diagnostic metrics will provide insight to allow evaluation of historical data, trends, competitor analysis and marketplace standards
Future-looking lead indicators will help you forecast, improve, budget and implement strategy.