Current Metrics
Your growth plan.
Table of Contents
Disclaimer: The data and projections presented in these reports are based on a combination of actual advertising platform data, our historical performance, your-provided information, and third-party sources. While we strive to ensure the accuracy and relevance of this information, it’s important to understand that advertising dynamics are complex and multifaceted. Factors such as geographic location, competition, market trends, and many others can influence the actual outcomes. Every situation is unique, and advertising costs and results can vary widely based on these and other factors. As such, while these reports aim to provide valuable insights and projections, we cannot guarantee their accuracy or that the outcomes will match the projections.
Analyzing Your Lead Cost Dynamics
This chart illustrates a comparison of your current lead acquisition cost against industry standards and the potential savings with SuperPractice. We define a lead as a qualified consultation or inbound call, generated exclusively from a dedicated advertising campaign.
- Current Lead Cost: The cost you currently incur to acquire a single lead based on your advertising spend and provided lead volume.
- SuperPractice: The estimated cost per lead in your practice area when utilizing SuperPractice’s efficient conversion strategies.
- Average For Practice Area: The typical cost per lead for your specific practice area, providing a benchmark to gauge your current performance.
Breaking Down Your Lead Volume Metrics
This chart illustrates a comparison of your current lead volume against practice area averages and the potential increase with SuperPractice. Remember, every lead represents a potential client and an opportunity to grow your law firm. We define a lead as a qualified consultation or inbound call, generated exclusively from a dedicated advertising campaign.
- Current Lead Volume: The number of leads you currently acquire based on the data you provided.
- SuperPractice: The estimated number of leads you could acquire in your practice area when utilizing SuperPractice’s efficient conversion strategies.
- Average For Practice Area: The typical number of leads for your specific practice area based on the average advertising spend, providing a benchmark to gauge your current performance.
Lead Volume Projections with Budget Scaling
This chart showcases the potential growth in your lead volume as you scale your monthly advertising spend. It provides a comparative analysis between your current lead volume, the potential leads with SuperPractice, and the average leads for your practice area as the advertising spend increases.
- Current Performance Adjusted: This represents the projected number of leads you would acquire based on your current performance, adjusted for the increase in advertising spend.
- Potential Leads with SuperPractice: An estimate of the number of leads you could acquire in your practice area when leveraging SuperPractice’s efficient conversion strategies, as your advertising spend scales.
- Average For Practice Area: The typical number of leads for your specific practice area based on average advertising spend, offering a benchmark to measure your performance against.
As you invest more in advertising, the potential to attract a larger volume of leads increases.
Assessing Your New Client Flow
This chart illustrates the potential growth in your client acquisition based on your lead volume and close rate. It offers a comparative analysis between your current client acquisition strategy, SuperPractice, and the average clients for your practice area for your budget and close rate.
Current Performance Adjusted: This represents the number of clients you currently retain based on the provided lead volume and close rate.
Potential Clients with SuperPractice: An estimate of the number of clients you could retain in your practice area when leveraging SuperPractice’s efficient conversion strategies.
Average For Practice Area: The typical number of clients retained for your specific practice area based on the average advertising spend and your provided close rate.
By understanding these metrics, you can recognize the potential to significantly increase your client base, leading to more revenue and opportunities for your law firm.
Diving Deep into Client Acquisition Costs
This chart provides a detailed breakdown of your client acquisition cost (CAC). CAC is a critical metric that represents the cost to acquire a new client, factoring in advertising spend, lead volume, and close rate.
- Current Strategy CAC: This represents the cost you currently incur to acquire a new client based on your advertising spend, lead volume, and close rate.
- SuperPractice Estimated CAC: An estimate of the client acquisition cost when using your data (budget and close rate) with our historical lead cost averages for your practice area.
- Industry Average CAC: The typical cost to acquire a client in your specific practice area based on average conversion rates data and your close rate.
Understanding and optimizing your CAC is pivotal. A lower CAC means you’re getting more value from your marketing efforts, allowing you to reinvest in growth or pocket the savings.
ROAS Insights: Understanding Your Advertising Value
This chart offers a comprehensive view of your Return on Advertising Spend (ROAS). ROAS is an essential metric that quantifies the revenue generated for every dollar spent on advertising. It provides a clear picture of the effectiveness of your advertising campaigns in terms of generating revenue.
- Current Strategy ROAS: This represents the return on your advertising spend based on your current strategy, factoring in your advertising spend, lead volume, close rate, and average client value.
- SuperPractice Estimated ROAS: An estimate of the return on advertising spend when leveraging SuperPractice’s efficient conversion strategies, using your data (budget, close rate, and average client value) combined with our historical lead cost averages for your practice area.
- Industry Average ROAS: The typical return on advertising spend for your specific practice area, calculated using industry average conversion rate data, your close rate, and your average client value.
Typically for law firms, effective advertising campaigns should produce a minimum ROAS of 3.5X or higher to be considered profitable and effective. It’s important to factor in lifetime value of a client and not just the first retainer or payment.
Revenue Metrics and Implications
This chart provides a visual representation of your current monthly revenue generated from advertising spend in comparison to the potential revenue you could be generating with SuperPractice and the industry average.
- Current: An estimate of the revenue you’re currently generating from your marketing budget based on the lead volume, close rate, and average client value you’ve provided.
- SuperPractice: An estimate of the revenue you could achieve by leveraging SuperPractice’s optimized lead conversion strategies with your current marketing budget. This is based on the average cost per click for your practice area, SuperPractice’s average conversion rate, your close rate, and your average client value.
- Practice Area Average: An estimate of the revenue you would be generating based on the industry average performance benchmarks from your marketing budget. This takes into account the average cost per click for your practice area, the industry average conversion rate, your close rate, and your average client value.
Exploring Revenue Shift with Budget Scaling
This chart visualizes the potential growth in revenue as you incrementally increase your advertising spend. The lines represent:
- Potential Rev. with SuperPractice: The estimated revenue you could achieve with SuperPractice’s lead conversion rate.
- Adjusted Advertising Spend: The scaled advertising budget based on percentage increases.
- Current Rev.: Your existing revenue, projected as a constant for comparison.
By examining the relationship between increased ad spend and potential revenue, you can make informed decisions about scaling your advertising efforts and the potential returns on those investments.
Your Report Summary and Next Steps
Disclaimer: The data and projections presented in these reports are based on a combination of actual advertising platform data, our historical performance, user-provided information, and third-party sources. While we strive to ensure the accuracy and relevance of this information, it’s important to understand that advertising dynamics are complex and multifaceted. Factors such as geographic location, competition, market trends, and many others can influence the actual outcomes. Every situation is unique, and advertising costs and results can vary widely based on these and other factors. As such, while these reports aim to provide valuable insights and projections, we cannot guarantee their accuracy or that the outcomes will match the projections.