Growth hacking is a new methodology within the field of marketing focused on maximizing the growth of the companies in which it is applied. Due to its great effectiveness, it is increasingly being applied to more and more sectors, among which is the law practice profession.
Growth hacking quickly tests the ideas that can generate the most revenue before taking big actions. This way you can know what works and what doesn´t without wasting resources.
If we want to maximize the growth of a business we must first know what brings growth. From this we will obtain the key metrics of the business. These metrics will help us to know whether or not we are obtaining growth with the actions we take. In law, examples of key metrics would be: client portfolio, number of current contracts or number of services included.
Once we know our key metrics, it is time to set SMART objectives, i.e. specific, measurable, achievable, relevant and timely. How to increase our customer portfolio by 15% in three months, increase monthly website traffic by 10% in two weeks or reduce the cost of customer acquisition by 20%. In short, an objective is to make a key metric increase or decrease in a given time.
Once we have set a series of SMART objectives, the next step is to devise growth drivers. The drivers are hypothetical ways of achieving our objectives, the effectiveness of which we will test through experiments.
The possible drivers for the legal sector could be online marketing, remarketing or referrals.
Which one suits us best, and which one should we focus on? This is what we are going to test through the growth hacking methodology.
First we must test through experiments who our customers are. We have to find out who decides to buy or not and why. When selling our services to individuals, it is important to understand the things that concern them, their thoughts, their behavior, their habits... In short, everything that can help us to win them as customers.
Once we know what kind of customers we want to attract, we must think about how to attract them, what tools to use and what marketing strategies to follow.
Nowadays almost all customers search online, so it is vital to have an attractive website to offer your services. This website should be easy to find, explain in a simple way our value proposition and indicate clearly what services you offer.
In addition to this, it is important that our customers are satisfied because if we manage to keep them loyal we can greatly increase the customer lifetime value.
We must also take into account the importance of referrals. Legal services are a high involvement purchase, so many people seek advice from family and friends in case they need to hire them. Therefore, we must maximize the likelihood that former clients will recommend us to their friends. To achieve all this we must ask ourselves questions such as the following:
- How do we attract customers to the website and get them to buy?
- By positioning ourselves through SEO by location?
- Doing online advertising?
- If we make explanatory videos on the website, will we get customers to hire us?
- Do they come back to hire us again?
- What makes them hire us again?
- What makes our clients recommend us to their family and friends?
The answers to these questions will be obtained by conducting experiments that will allow us to develop an effective marketing strategy. We will find the answers after carrying out small tests, the results of which we will write down. It is essential to keep the process documented so that we can consult past experiments. In this way we will avoid repeating mistakes and we will be able to improve those strategies that proved to be effective.
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