A question we are often asked is what kind of budget lawyers should set up for Facebook advertising. For example, One firm asked, “What is your recommended budget for Facebook ads for something like wrongful-death?” To answer this question there are a couple of things you need to consider. First, what is the average settlement you usually get on a case? You see, in order to answer the question, you have to work backward. It is always better to see what your ads already cost you and then determine if it is a good price or if you need to spend more or less. When you find the dollar amount that gives you the return on investment you are happy with, take that number and run with it.
You will factor in the following:
- What is the average dollar amount that you recover for a wrongful death settlement?
- How much did you spend on the particular advertising venue that attracted that case?
- Note: it is wise to know where your clients heard about you for this very reason.
- How many of the cases (like this one) do you want?
Finding those numbers
Assuming you have run ads before, how much did it cost you to run your ads? Did you have to pay someone to run the ads? This is what it costs to grab X number of clients/cases. If the numbers you find are acceptable, and you are making the required profit margin for your company, then figure that dollar amount times the number of clients you really want to grab off this advertising.
There is a better way
Again, I don’t like running ads. They are too hard to track and they are difficult to follow-up on. Instead, offer a cheat sheet or some sort of bait that will get them to download your material. For example, offer them a free chart that gives them step-by-step instructions on how to set up a Go Fund Me account to help with final expenses. Find a small problem and offer them a solution. Maybe you can give them a guide on how to set up an account for their children’s college funds. When they download the guide, you can email them. Tell them you are sorry for their loss and ask them if they need any help with the guide you sent. When they request your free offer you have their information. Contacting them on their email will not be immediately forwarded to the spam file.
You will not get a reply to every guide you send out. But you will get business. Some people will not call right away. They are not ready. But when they are ready, they will remember you in most cases. Anyway, you will get enough trackable data to make your budget.
These people are your friends for life. They will recommend you to their friends. This kind of advertising is priceless.