As any large CBD-based corporate law firm would know, the ability to attract and retain clients is a key priority.
After all, a recent report noted that winning new business was a pivotal business challenge affecting law firms, with over 60 per cent believing this to be their second greatest headwind - behind negotiating prices with clients. 1
The solution for many law firms in combatting this challenge is to install a formal Lead Generation Strategy, with hopes to lure new clients to the firm, build on referral sources, repeat business from recent/former clients and bolster cross-selling opportunities. 2
The top tactics used in creating this formal Lead Generation Strategy usually involve utilising e-newsletters or alerts, email campaigns, social media, and search engine optimisation (SEO).
Despite this however, the concern for “quality lead-gen” remains a roadblock for many law firms, especially those on the larger end of the scale. Managing partners are increasingly finding themselves unhappy with lead conversion rates, forcing themselves to consider the following:
1. Where are my clients actually coming from?
2. Which of my sources generate the most leads?
3. Can I measure the effectiveness of lead generation sources?
4. Are there insights and metrics attached to my sources?
5. How many leads am I losing every week?
6. What are the reasons why my leads aren’t converting?
After exploring the above questions, many managing partners may find that the weakest link in their Lead Generation Strategy is due to their law firm’s substandard Inbound Telecommunications failing to meet basic expectations.
A timely Business Technology Report showed that:
• 85 per cent of callers who can’t reach a company on the first phone call will not call back, and that 75 per cent will not leave a voicemail. 3
A recent report about Law Firm Customer Service showed that:
• Fewer than 10 per cent of clients who call a law firm will actually get to speak to a lawyer.
• More than 40 per cent of people who leave a voicemail wait two or three days before they hear back.
• 11 per cent of callers hang up within 10 seconds of calling a law firm because they’re frustrated at not getting to speak with the person they ask for by name. 4
These disturbing statistics alone should scare all Law Firms into taking action on something so simple – answering the phone.
Failure to act may cause huge damage, resulting in missed business opportunities and consequently loss of potential revenue.
With these sobering Call Statistics in mind, isn’t it time to shake up your Lead Generation Strategy by focusing on Inbound Telecommunications?
Case study: How Fonebox fixed the Weakest Link in a Law Firm’s Lead Generation Strategy
A leading commercial law firm based in Sydney’s CBD contacted Fonebox for an innovative solution to their Telecommunications needs.
This law firm specialises in advising ASX-listed companies in the areas of commercial negotiations, corporate strategy and structuring, raising venture capital and taxation. The managing partner serves on several ASX-listed company boards and has more than 30 years’ experience.
The firm was seeking to increase incoming calls that would generate more leads and prospects. They also wanted to reduce ongoing costs by avoiding hiring additional administration staff.
Furthermore, the firm was seeking to outsource their receptionist function to an external phone answering service, so that their key staff could focus on the more important billable activities without the constant distraction of answering the phone.
For compliance reasons, they also needed all the outsourced phone calls recorded and tracked.
After careful discussion with the managing partner and relevant staff, Fonebox came up with a bespoke solution that was tailored to this law firm’s specific needs:
Fonebox organised for a new 1800 toll-free number to be set up for this firm that enabled potential clients to call for free from any landline or mobile phone (depending on carrier) in Australia. This firm now has a national presence and can now gain leads from all over Australia. The undeniable barrier of exorbitant long-distance phone charges was removed so callers did not need to hesitate to contact this firm, especially if they needed to explain complex legal matters in lengthy phone conversations.
Fonebox’s 24/7 Brisbane-based Contact Centre (with Australian staff) ensured that no phone calls or important leads were missed, no matter what time or day they called. Fonebox’s “virtual” receptionists were trained with this law firm’s customised phone script to capture all the essential law case details from callers. These receptionists are able to answer basic frequently asked questions (FAQs) and are even able to book client appointments (if appropriate to your business). This receptionist service saved the law firm’s valuable money and time, as they screened warm prospects from general enquirers. For all phone calls received, Fonebox can provide detailed call outcome messages by either email or SMS.
All Fonebox’s receptionist phone calls were recorded and available on the reporting platform from the next business day onwards. The law firm could download and listen to any recorded calls at any time through Fonebox’s online portal. They could also access statistics about phone calls including the call volume and duration, enquiry type and the geographic origin of callers. Result or call outcome codes are also applied to all calls handled by the live operators making it easy for the law firm to determine the call outcomes and ratios at a glance. These call analytics are available free with any of Fonebox’s Toll-Free, Inbound Number and Phone Answering Plans. This data is invaluable for evaluating telecommunications performance and informing the managing partner’s overall Business Strategy.
Fonebox became an essential extension of this law firm as their trusted receptionists, ensuring that their Inbound Telecommunications was no longer the weakest link in their Lead Generation Strategy.
Who is Fonebox?
Fonebox is one of Australia’s leading telecommunications providers. We specialise in inbound numbers, call routing and live operator services. Since our establishment we’ve focused on 3 things:
1. Low rates
2. Quality service
3. Custom-built solutions
Today, with thousands of satisfied clients, we continue to live up to our motto of “going beyond the call” to provide a committed customer service ethic that defines the Fonebox experience. We pride ourselves on our inbound service and call routing expertise. Our approach offers:
- Reliable call routing
- Precision call tracking
- Customised reporting
- 100% Australian call centres
Can your corporate law firm afford to lose business to competitors when the Weakest Link of Inbound Telecommunications can easily be fixed by Fonebox?
1 Lawyers Weekly: Law firms’ top 5 business challenges revealed
https://www.lawyersweekly.com.au/biglaw/21770-law- firms-top- 5-business- challenges-revealed
2 Rahul Khosla: Lead Generation Success in Law Firms
http://www.edynamic.net/RahulKhosla/Lead-Generation- Success-in- Law-Firms
3 Karl Flinders, Computer Weekly: UK SMEs lose ₤90m because of missed calls
http://www.computerweekly.com/news/2240234997/UK-SMEs- lose-90m- because-of- missed-calls
4 Robin Bull, Lawyerist: 8 Ways to Improve Your Law Firm’s Customer Service
https://lawyerist.com/8-ways- to-improve- your-firms- customer-service/