The days of cold calling law firms? The answer is Yes and No.
The days of smile and dial are over. The growth in sales is minimal, sales turn over is high, the training costs are too high and this approach is not highly scalable.
Why? It is too expensive and severely unproductive. Having your legal sales representatives spend 95% of their day cold calling law firms produces very little results because attorneys and their law firm receptionists have been programmed to have an anti-phone solicitation mentality. They are already programmed to shut you down without even listening to your offer regardless how valuable your service may be. Keep in mind, most attorneys receive several of these solicitations every single day.
Let’s do the math.
If your inside sales legal sales rep is making 100 calls per day on average they will speak to about 8-10 attorneys per day. Out of those 8-10 attorney interviews they are likely to produce 1-2 qualified leads. This will also vary from day to day. The cost per lead based on a $24,000 annual salary is approximately $75. So if you or your sales rep close about 20% of these qualified leads on average, than they will make about 2-4 sales per week depending on the rep’s selling skills.
So what should you as a legal sales representative or legal support company do instead?You must turn your sales people into sales closers instead of sales cold callers. 90% of your sales activity should be spent on closing inbound leads. The other 10% of your sales activity should be spent on following up with open proposals. By focusing sales activity solely on closing business with interested prospects your sales will skyrocket.
So how do we create inbound leads from interested prospects?
This is where having a dedicate lead generation or marketing person comes in. Through by focusing your marketing strategy to deliver the right sales message to the right prospect you will generate phone calls from highly qualified and interested prospects. These inbound leads are far superior leads because they have listened or read your message, they have an interest in your services and they have taken the initiative to take action.
This approach keeps your sales reps focused on closing the business which generates far better sales success for your company and the cost per lead drops from $75 to about $7 per lead.
If you have any questions about creating an inbound sales lead campaign simply post your comment or click here to submit your contact details for a follow up.