Are You In Tune With Law Firm Marketing in 2013? Nielsen & Billboard Are Tracking Web Data.
A few months ago, I wrote an article entitled “Is TV Dying As An Effective Law Firm Advertising Medium?” In it, I mentioned that some firms with large TV advertising budgets and well-planned marketing still receive decent returns from TV. However, DVR, TIVO, Roku, mobile devices, Social Media and the Web’s ability to be interactive are contributing to declining viewership of TV ads and threatening the future of TV advertising as well as other traditional advertising media.
USA Today’s Money section, February 22, 2013, published a section called “Checking Pop Culture’s Pulse,” which included an article entitled “Finally, Factoring In The Web.” The article stated:
The Web is re-defining entertainment: Now its influence is shaping measurements of what Americans watch and what music they listen to. Nielsen, which measures TV viewership, will soon begin counting people who watch programs through broadband services such as Netflix in addition to the traditional broadcast and cable hook-up. “Billboard” this week began counting U.S. YouTube data among the factors it uses for its Hot 100 songs, rankings and other charts.
Many law firms are still not embracing the Web and are facing declining case loads and increasing costs per case. Our Marketing Director, Tanner Jones, recently wrote an article on tracking your law firm’s ROI and cost per case. In it, he pointed out that several of our Consultwebs.com clients are achieving a $320 cost per case for Web marketing. On the other hand, most law firms spend more than $1,000 per case for TV advertising. Additionally, the cost per case for TV is increasing, according to Ken Hardison, PILMMA law firm marketing expert and Hardison & Cochran (Raleigh, NC) personal injury law firm partner.
In addition, a recent Forbes article stated that in 2013, revenue generation will be more important than lead generation in regard to marketing efforts. “Instead of just measuring lead generation,” said the article, “marketing’s worth to a company [such as a law firm] will start being weighed against sales growth.”
The author also states that this shift could change the age-old key performance indicators of marketing departments.