Exclusivity is becoming attorney’s best kept secret of 2017!
Personal Injury Advertising is one of the most competitive and expensive fields among all advertising categories. As a matter of fact, the latest statistics from Google AdWords show that the top 5 most expensive keywords are personal injury related, with the #1 keyword – “best mesothelioma lawyer” going for $935.71 per click. The next 4 are “dallas truck accident lawyer” ($425.70), “truck accident lawyer Houston” ($411.04), “louisville car accident lawyer” ($393.79) and “houston 18 wheeler accident lawyer” ($388.79). The list goes on with another 15 personal injury keywords in the top 25.
So, what does Exclusivity mean in advertising?
Exclusive lead distribution models are based on generating new case leads in a particular market area for 1 attorney; which means there is no direct competition when an attorney receives a new case lead. Contrary, in the non-exclusive model, as the name suggests, one lead is passed on to multiple attorneys at the same time. This minimizes any opportunity the attorney has to get the person on the phone or even worse to develop a good attorney-client rapport and retain the claimant.
Why is Exclusivity an attorney’s best chance at a bigger bottom line?
In today’s market and with the level of competitiveness among advertisers (which Google and other mediums have created), it has become harder and harder to find firms that will offer exclusive lead advertising. Most advertising firms cannot withstand the high cost of doing business in the personal injury field, while still maintaining a competitive Cost per Call for attorneys. More and more advertisers have therefore turned to the non-exclusive model, which keeps the attorney’s Cost per Call lower while still ultimately paying the same to the advertiser. The downsides to the attorney, however are insurmountable. What initially seems like a “better cost” for the attorney ends up costing the firm way more in call intake, time spend competing for every call and lower conversion rates from call to case. Here is a quick example of how the two models work.
Exclusive Calls, Better Quality = Higher Return on your Investment!