For us, 2022 started kinda slow for mass tort marketing spend overall, yet it was really similar to most years prior, and as usual, has picked right back up again and new orders are coming in daily for some of the most popular torts like NEC, Baby Formula contamination, Roundup, Paraquat, CPAP, and a few less known secret ones we can’t tell you all via an email but are happy to discuss with you over a phone call.
Trends we are seeing show that Facebook/Instagram campaigns are back to performing best over time in most cases. We do deploy budgets on radio, TV, digital TV, OTT, and through partners like Google and display networks, but consistently have found through the last couple months, strong trends suggesting that the majority of the eyeballs are still on Facebook. It is where people now go to get their news, not to the news channels.
A NOTE ON TEST BUDGETS
We are also finding that test Budgets just don’t cut it anymore. Clients who are trying to gauge marketing success with budgets only 2-5x what the average cost of a case is will find that they are shooting themselves in the foot by not giving the appropriate time for the test to deploy and optimize. Let our past history on the same projects for other clients be your test.
With Facebook as an example, the algorithm wants 50 pixel fires a week per ad set to optimize your delivery, and anything less is asking Facebook to do more, with less data. So the formula for finding out your starting budget really needs to be = 4 x (Your average CPL x 50) which will give you a monthly budget that is more reasonable to start. As we scale, we can replace CPL with Cost Per Signed case, and the same formula applies.
Moving forward, X Social will be offering 2 ways to get started:
- Standard business as usual way we have done business for years, where we setup everything from scratch for your business. Including a dedicated landing page built to your criteria, a dedicated url, tracking phone numbers, etc, and you set a total budget overall for the campaign and we deploy it on your behalf. This is how we already do things today.
- A new approach for XSM but more standard in the lead generation space (albeit we don’t believe others have the same level of dedication to ethics “down the lead chain”) where we setup generic campaigns using XSM owned brands, and then control all of the traffic going to the page for lead gen and then sell* on a cost per lead basis per day into our X Portal Marketplace the leads to our clients running those campaigns. Here, we still need a budget, but your budget will earn you a right to the auction each day for leads. Budgets under 50k for the most part, will be option 2 moving forward. Once successful, we can go move to option 1 with larger budgets.
By doing things in these two different ways, it allows us the benefit of the history of success on each campaign instead of launching brand new campaigns for each client each and every time a new project is started. The caveat is then the criteria becomes the same for each campaign, so if you have criteria that doesn’t match what is standard, then you will need to go with option 1. Option 2 can also be used to supplement leads generated from Option 1 for clients who want to scale faster.
Be sure to catch Jacob as a guest speaker on Practical Marketing Tips for Small Law Firms interviewed by host, Kara Prior, president of James Publishing. More info below on this down in the email!
-The X Social Team
Have feedback? Want to see something specific? Have questions? Want to setup a call to discuss or get started? Email Lucas@xsocialmedia.com