Balancing brand awareness and lead generation activities for law firms

There can be a real challenge for law firms in balancing brand awareness and lead generation in their marketing strategies. Both actions are crucial for long-term success but they serve different purposes and require different approaches.

The 95/5 rule

The marketing rule tells us that at any given time, only 5% of your potential clients are actively seeking your services. The other 95% are known as 'out-market'. Now, the 95% will eventually need your services, making brand awareness critical for future clients.

Awareness vs lead generation

Brand awareness focuses on creating a lasting impression in the minds of potential clients. This might include:

1. Thought leadership content such as articles, whitepapers, reports etc;

2. Speaking/presenting at industry events;

3. A consistent social media presence.

You are looking to position your firm as a trusted voice in your services such as employment, dispute resolution, real estate etc. Therefore when the need arises, your firm is top-of-mind.

Lead generation targets the 5% of potential clients that are currently in need of your legal services. Strategies can include:

1. Targeting social media ads

2. Seminars/training on key topics

3. SEO for relevant key words

4. Pay per click (PPC) advertising

These tactics aim to capture and convert prospects who are actively searching for legal services.

The balance

The ideal balance between awareness and generation depends on your specific goals and market position. A general guideline might be:

• 60-70% marketing awareness

• 30-40% for lead generation

This balance allows you to capture immediate opportunities while building a strong pipeline for the future.

Integrating both

Ensure that your marketing strategies integrate both awareness and lead generation by:

1. Create content that addresses common or topical legal issues (brand awareness) and optimise it for search engines (lead generation).

2. Use retargeting ads to keep your firm visible to website visitors (brand awareness) while offering specific services/products/training/consultations (lead generation).

3. Leverage email marketing to nurture relationships with your audience (brand awareness) and include targeted calls-to-action for specific services (lead generation).

By thoughtfully combining these approaches, you can create a comprehensive marketing strategy that drives immediate results while building long-term brand equity.

Remember, the key is to remain consistent and patient. Brand awareness efforts may not yield immediate results, but they're essential for sustainable growth. Meanwhile, lead generation tactics can provide the short-term wins needed to justify your marketing investment - good ROI.

If you are a law firm, audit your current awareness/lead generation strategies. Are you throwing money at one and not the other? Remember that you need a balanced approach that acknowledges both the immediate need for clients and the long-term benefits of brand building. By understanding the 95-5 rule and implementing strategies that address both brand awareness and lead generation, firms can position themselves for sustained success in a competitive legal market.