Marketing Data & Information Analysis
Development & management of marketing and sales KPIs - helping to achieve your growth potential
At the heart of marketing MI is the need to establish marketing & sales KPIs that are measurable and which all your ‘short term’ tactical marketing and sales activities are geared towards achieving.
And while your marketing objectives will need to be measurable, often you have wider marketing aims (such as product development, brand build, client engagement etc.) which are not always measurable.
Establishing clear marketing and sales KPIs (including measurement such as CPE, CPA, New Business Value, conversion rates and marketing multiples) which are reported against weekly will ensure that you have a clear focus on ‘the hear and now’ and how your short term activities are driving returns.
Clear KPI’s will also ensure that the appropriate resources can be committed based on specific needs and how each area of the business is performing against its agreed targets. It enables tactical plans to be formed (and changed) depending on outcome and success and will ensure that the areas of the business most in need of marketing attention gets it.
With extensive experience in establishing and focusing on delivery against KPIs. Legal Reach is able to work with you and your senior management team to build KPIs across the business and each department and then implement an approach that will ensure that collectively, the firm achieves its new business growth.
Development of marketing data & information - helping to understand your marketing ROI
Understanding what marketing investment is working, what isn’t and more importantly which activities are driving the best returns is vital if you are to successful grow your business and increase your profitability.
And yet for many law firms, being able to clearly measure and articulate what is working and what ‘mix of activities and channels’ are driving the optimum return remains an enigma.
At the heart of this sits a number of interlinking core aspects. From understanding the cost of each part of the sales process, identifying the total marketing and sales spend and the true value of each product sold against the ‘cost of production’, through to calculating what is known as ‘the marketing multiple’ (if you spend £1 how many do you get back?), each of these elements all help to build the complete ‘story’.
Building efficient marketing MI is key to ensuring that you are able to maximise your future marketing spend. But due to other pressures, demands and management capacity, it is often missing … meaning that many law firms are at best ‘uncertain’ at which activities are driving what work into the business while at worst are continuing to invest significant investment into marketing activities that simply are not working.
Legal Reach believes that effective marketing MI sits right at the heart of a successful growth strategy and has extensive experience of working with senior management, legal departments and business, financial and operational analysists to put in place the necessary ‘blocks’ that builds effective marketing MI that underpins successful new business growth.
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