Social media ads: How much are law firms spending?
Most law firms are shifting their activity to social media. As one of the most competitive industries globally, attorneys’ practice of law needs to outshine competition when it comes to services, client engagement, and marketing strategy. Advertising on social media is among the strategies that many law firms adopt when considering their growth and financial flow.
How much do law firms spend on social media advertisements?
Law firms spend an average of two to ten percent of their revenue on social media ads and marketing. But the final amount of money a law firm spends on advertisements depends on the law firm’s size, marketing strategies, and client acquisition. These factors apply to different law firms, and this is why they spend less or more on social media marketing.
1. Area of expertise
What determines the amount a law firm spends on ads is its area of expertise. Different law firms offer different services. Law firms providing client-facing services like criminal defense, family law, personal injury, and estate planning spend ten percent of their revenue or more on social media ads.
Practice areas like estate, property, and business will spend low on social media marketing due to the nature of the cases, applied law, and the basis of client attainment. These areas of expertise do work wonders as it is easy to get new cases and clients.
Law firms specialized in criminal defense and personal injury law spend more than ten percent or more of the law firm’s revenue. Acquiring referrals for these practice areas is common, and it is hard to find cheaper and effective marketing platforms. Client acquisition and cost per client are high and getting enough leads to convert into clients can be costly.
2. Size of the law firm
The law firm’s size plays an essential role in the amount of cash a law firm burns on social media advertisements. Smaller law firms spend an average of five to ten percent of their general income on internet marketing, depending on their market strategies, area of practice, and sales intake. Medium to larger law firms spend between two to five percent of their revenue on online ads.
How law firms budget for social media advertisement
Many law firms spend over fifty to eighty percent of their total budget on social media advertisements. Law firms not spending comprehensively for a strong social media presence lag behind their competitors. As Instagram, Facebook, and Twitter vary in their purposes, investing in SEO and content marketing helps generate more online leads and traffic.
As the Internet shifts its attention towards high-tech entertainment and platforms like YouTube, Facebook, and Netflix, there will be an increasing demand for companies like law firms to invest in social media advertising. Each law firm will have its advertising goals, but they will also have a strict social media advertising budget.
Best social media advertising approach for your law firm
As you may channel down your firm’s resources to more phone calls, acquiring new clients, and higher conversion rates, if you decide to do the advertising yourself, you might end up spending too much on social media as you try to find the right strategies and techniques that work for your law firm.
Instead, you could hire a Facebook and Instagram advertising agency to build those strategies and techniques for you and develop the right advertising channels for your practice. After developing the best advertisement channels, you will spend less of your budget and have a venue to further experiment with social media to yield the best results.
As a law firm looking to build a strong online presence, it is vital to have an open mind when planning your social media advertising budget, as techniques and strategies may change over time.
In the past, firms made themselves visible to potential clients through TV ads, phone books, and billboards; the trend is now shifting to the Internet and social [LL1] media. Trends still come and go, but your practice should let the experts come with the perfect strategy to stay ahead of the competition regardless of the trend at the moment.
Story by Mary Aderholt. She is a blog master and journalist with a fierce passion for writing. She has been editing articles for various U.S. based newspapers whilst contributing to the growth of many personal or organizational blogs for 10 years now. She is well accustomed to writing online as well as offline articles covering almost any type of subjects, be it health, beauty, sports or pretty much anything else-related