Legal Research

"Referral Clients Are Simply Cheaper To Obtain, Easier To Close, Pay Better, and Are More Profitable"

Posted by Chuck Newton: "Oh, that is a mouthful, but it is true.

I read this recently about business in general and I think from my experience it applies to law clients as well.  A referral has a 60% chance of becoming a sale, with other methods coming in a distant 10% or less.  It is actually a lot less.

Does this mean that an attorney is not closing 90% of the clients that go through his office based upon advertising, let us say?

No.  But, what it does say, and what we know is true, is that 60% of those people referred to you by a reliable source are likely to make their way through your entire system, from calling, to booking an appointment, to actually showing up at your office, going through the legal options available with you, agreeing to retain you and actually paying you money...

Continue reading this interesting post at the source site listed below.

Source: Chuck Newton Rides the Third Wave, 26 May 2009

Full post as published by Stark County Law Library Blawg on May 27, 2009 (boomark / email).