Douglas Adams has my favorite bit of all time. In the Hitchhiker's Guide to the Galaxy they create a super advanced computer to figure out the answer to everything...and it gives a very definitive answer.
Which you're not going to like (the same warning the computer gives).
42!
Now everyone realizes they need the right QUESTION just as much as the answer...
And look, maybe it's how many roads must a person walk down before you can call them a person?
Or maybe it's how many grams of sugar you can take every day and be happy.
But for me...it's how many things in life can you REALLY pay attention to and track.
So when it comes to leads...here are my top 10.
HUGE CAVEAT FIRST - if you don't have the time to make decisions based upon these #s...maybe don't worry about tracking them. If you have a full time C-level executive who's job is to make sure your sales process is the best in the business...this isn't enough.
But for the growth minded law firm owner in the low to mid 7 figure range this is a GREAT place to start.
Because, like Adams' characters, we often find ourselves armed with answers (or data) but lacking the right questions. Today, I'm not just giving you the questions (or #s to make sure you have); I'm helping you discover the questions that transform these numbers into actionable insights. Because what good is knowing the speed of light if you don’t know how to turn on the headlights?
With that out of the way, let's dive in like the Bad Batch on their latest mission.
1. Total Number of Leads
Just like counting the number of ships you have left to attack the Death Star, knowing your total number of leads gives you the size of your force at a glance.
2. How They Found You
Every hero has an origin story, and so does every lead. Did they stumble upon you like Peter Parker getting bitten by that radioactive spider, or were they referred by someone who knows your heroic deeds, like Batman referring/recommending Nightwing to the Justice League?
Sure...none of this data will EVER be 100%, but if you can see it in your metrics AND ask every client how they found you...I promise you that you (or someone on your team) will learn a TON from this.
3. Percentage of Viable Leads
Like Yoda assessing potential Jedi, not all who wander into your galaxy are right for training. How many of your leads are truly ready for the journey? Are they in the right geographic area? With the right need? And can they AFFORD to hire you?
4. Leads Booking Consults/Strategy Sessions
This is your 'call to adventure'. Of those who find you, who takes the leap to join you on the quest, like Frodo deciding to take the ring to Mordor?
5. Show-Up Rate
It's one thing to plan a trip to 1985, it's another to actually get there in your DeLorean. How many make it to the meeting versus getting lost in the wild west?
6. Leads You Actually Want to Hire You
Not every droid you meet is R2-D2 or BB-8; some are just not suited for the mission (like C3PO is who is NEVER helpful). Which of your leads do you really want in your rebel alliance?
7. Conversion to Signed Clients
This is where they sign the accord, like the Avengers at the end of their first assembly. What percentage of consultations turn into allies in your saga?
8. Average Value of Each Client
In the words of Indiana Jones, “Fortune and glory, kid. Fortune and glory.” Knowing the average value of each client helps gauge the treasure at the end of the map. And helps you price out how much you can do for clients. And helps you budget. And...well it's REALLY important.
And honestly, I don't care if some of your cases are $1500 and some are $3,000,000 (trust me...I do PI, I know). If you get enough cases over enough time the average is...well the average of all of those outliers.
9. Reasons Behind Decisions
Understanding why people choose to hire you—or why they don’t—is like Indiana Jones figuring out which artifacts are real and which are clever fakes. What can you learn from their choices?
And yes, most clients will NOT tell you this info. Or not be honest about it. Still ask, you never know what answer they will give you and you might learn something from those who do.
10. Time Investment
Finally, how much time does this process take? Is it a quick sprint like Quicksilver or a long drawn-out saga like The Lord of the Rings? Every second counts when it comes to maximizing efficiency and ROI. And this will help you figure out if you need to follow up 4, 8, 15, 16, 23, or 42 times (I will bet the people from Lost read Hitchhiker's guide!)
By the end of this adventure, you’ll not only better understand where your leads come from but how to convert them into legendary clients.
Okay, so this all sounds good, but you’re wondering how to start making these changes. The first important step was visiting this web page, so congrats! You’re already on the right track. The next crucial step is booking a consulting appointment with me so we can come up with a plan and replicate the results of so many others before you.
You can book an appointment here. See you soon!
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