I hear it a lot when I talk to Personal Injury Lawyers, ” I can’t compete with “Insert Name” in my local market as he spends Millions on advertising and I just can’t compete with that.
Well just like we changed the game for the mass tort lawyers by allowing the guy that wanted to spend $10,000 or $20,000 a month on Mass Tort compete “with the big guys” by using the Facebook platform, we are now doing the same for Personal Injury through Digital TV.
The changes we are proposing below for a new form of Digital TV Advertising will do the same in the local marketplace for Personal Injury Advertising. The reason being you will know your cost before you even enter the market place for Personal Injury. You will know what a call costs you and if you want to spend $10,000 a month in your local market on Personal Injury then you will know that as an example 50-75 calls will come in (dependent on local market and budget). Once you have established your conversion rate in your local market on the calls you will get to your cost per signed case.
So a small office could say, ‘”We just need 5-10 signed cases a month and we are golden.”
To do so, first we figure out what your conversion rate is on the calls and then we give the local TV stations a “Cost Per Action” number for your local market that will get you to those 5-10 cases a month with an ROI you can live with. If we assume the conversation rate on the calls are 10% and you are ok with a $2,000 cost per case in your local market we can offer the TV stations $200 per Action (Call).
Again we can put advertising in your local market for Personal Injury Cases knowing our Key Performance Indicators (KPIs) are as much in our favor as we can get it before we start advertising or taking risks.
- Stability – You can get as much advertising as you want giving you a stable source of “Cost Per Action”
- Predictability – After your first run you will know Conversion Rates and Cost per Case as “Cost Per Action” is stable, and even tends to go down as we dial things in.
- Scalability – If you need more we can scale it faster by putting your offer out to more Local Stations.
- Advertising risk – We let the media (TV Stations) take the risk, because that is how we roll!
Now the next question I always get from personal Injury Lawyers is this one, you may be guilty of asking this; “Well I really only want “18 Wheeler Cases that involve a motorcycle and a commercial van, can you target just for those?” So with Digital TV we now can do that as well. The spot we give the local TV Stations could be a spot with a singular focus on Trucking Cases, Motorcycle Case or Wrongful Death Cases. Because we only pay when somebody takes Action. Of course they are harder to find then regular MVA cases so our dollars we offer for an action has to be higher for the TV stations to run it; but our targeting coming from our Facebook data helps us in narrowing down what TV stations we should send the offer to and should help us and the TV stations produce a good ROI from the Cost Per Action model.
January will be filled with more Personal Injury Digital TV tests in different markets and as soon as we have numbers from different local markets we will post our findings on our website so the opportunity becomes transparent for all of our clients.
That isn’t saying you need to wait to get started, but if you are more risk adverse and need more data before you make your decisions, we will have that for you shortly.
Our fees are still just 15% of the your marketing budget for all we do and to leverage our 100M+ of historical data. If your law firm wants to be part of this in your local market reach out to email@example.com