If you’ve been involved in the digital marketing efforts at your law firm, then there’s a good chance you’ve heard a thing or two about conversion rates. After all, they are considered to be an important key metric, but it’s not always clear as to why. What do conversion rates really tell you about your website, and what do they mean for your law firm?
Understanding your website’s conversion rate is an essential part of developing and assessing your legal marketing strategy. Learn more about conversion rates below.
What Are Conversion Rates?
Conversion rates are essentially the number of visitors who have completed a certain action, divided by your total audience. Ultimately, the point of conversion rates is to help determine how effectively you are converting potential clients into paying ones, or at least moving them along in the process.
For example, let’s say you want to see how many of your website’s visitors turned into quality leads over a certain period. You could take the number of users who have completed contact forms and divide it by the number of people who have visited your firm’s website during this time.
If you received 200 forms and 1000 total visitors, then your conversion rate would look something like this:
200/1000 = 0.2, or a conversion rate of 20%.
Now you can take this a step further. Let’s say you want to figure out how many of these potential clients turned into paying customers. If you received 200 forms and ended up with 10 of these users as clients, then your conversion rate would be:
20/200 = 0.10, or a conversion rate of 10%
Eventually, if you are calculating your conversion rate on a regular basis, you can average the numbers out to figure out your average conversion rate.
How Do You Assess a Law Firm’s Conversion Rates?
A higher conversion rate is generally better, as it means you’re bringing in more clients. However, the best way to assess a law firm’s conversion rate is to put it into perspective.
While a conversion rate of 100% is obviously ideal, as you can probably imagine it is extremely difficult to achieve anything even close to this number. You’re not going to be able to convert every single visitor because they are all different individuals with different reasons for accessing your firm’s website. Some may have even clicked on something by accident or didn’t understand what they were getting themselves into – you never know.
Therefore, it’s best to assess your conversion rate based on the number of new clients you want or would normally expect to bring in over a certain period. Though it may not sound like much, perhaps a 10% conversion rate is better than what you’ve ever achieved before, and is therefore considered a success for your law firm. On the other hand, if it’s less than what you’re after, then you can use this information as an opportunity to tweak your marketing strategies and website in an attempt to better achieve your goals.