A Recession Is Right Around The Corner

As I write this, it's 95 degrees in Salem, Oregon.  I'm sure by the time you read this it will be 75...but still.

‍

I know how to handle 95 in Florida.  Don't move, blast the AC, bring a kiddie pool into the house and lay in it…

‍

I don't know how to handle that in Oregon where our place didn't have Central AC (or a portable kiddie pool).

‍

Well...I did....at 9pm when it was still 85 inside, we abandoned the AirBnb and found a new place.

‍

I've never been more proud of my wife - throwing the light stuff off of the second floor while I loaded the car and also finding us a new place to stay with real AC.

‍

Because here's the thing...things are easy, when it's easy.

‍

What does this have to do with your firm?  

‍

Well, everyone says we’re headed for a recession.

‍

Maybe that makes things easier for you...but not for most of us.

‍

So if they’re right, (I think they are) there are two dumb things you can avoid doing.

‍

1) Some firms are going to cut marketing expenses and try and ride it out

‍

2) Other firms are going to keep doing the same marketing and try and ride it out

‍

So what are smart firms going to do?

‍

They’re investing in a CRM NOW.

‍

They’re tracking their leads NOW.

‍

They're going to listen to and steal my ideas here...

‍

Actually...forget that (I'm not that vain, I don't think that song is about me)...

‍

Here's what MY firm is doing NOW for the recession:

‍

The Jordan Law 5 Tips to Recession Planning

‍

1) We are rebranding to be less focused on me (WAY overdue...much longer story to follow as we get closer to launch)

‍

2) We are having LegalEase Marketing reaudit our CRM to make sure everything is following best practices and we are tracking correctly

‍

3) We are double checking our marketing tracking efforts

‍

4) We are doubling down on staying top of mind with referral sources

‍

5) We are saving cash to expand wisely

‍

Because here's the thing - with what we have set up, I know which marketing drives leads, but even better…which marketing drives CASES.

‍

If PPC ad A, goes to landing page A, which has contact form A, then my CRM (Lawmatics) can tell me what Google Analytics can't - as in which clicks actually HIRED.

‍

So while ad 27 might be the darling of google (great click through rate, with cheap cost per click)...if it doesn't send me leads who hire...it's not terribly helpful.

‍

Or which of my referral sources sends the clients we LOVE working with the most.

‍

And then, as other firms stop marketing, it becomes cheaper to get more of the RIGHT cases and I know which marketing strategies drive the ones I want most.

‍

As insurance companies get EVEN more stingy with their cash I can see which marketing opportunities to pass on for this year.

‍

As everyone feels the squeeze, I can see which referral sources are hiding and which are doubling down to gain market share.

‍

And maybe this cash goes into more ads, maybe I hire some new employees who wouldn't otherwise be available, maybe I take some friends out for a drink and we commiserate, who knows?  But I am positioned to make the RIGHT decision. 

‍

This is why it’s essential to have a plan for your firm and know which cases you want.

‍

This is why it’s essential to have a CRM for your firm and be tracking which cases you're getting.

‍

And it's essential to do this stuff NOW, so you have a better baseline of data to make decisions off of.

‍

Resources

‍

If you have NO tracking in place, download this spreadsheet and start there.

‍

If you have NO idea if you're tracking the right stuff or what system to use - let's chat.

‍

If you just want a second set of eyes on your CRM - hire us for that!

‍

You can look at this recession as something terrible happening to you (to everyone), or you can look at this as an opportunity.  I know which one I prefer.

‍

Until next week, have a VERY wonderful Fourth of July, and please stay safe (no JPP incidents please!)

‍

Until Next Friday,

Jordan Ostroff

‍