3. Leverage the web
A law firm’s web site can be its most powerful ROI measurement tool. That’s why a growing number of firms prefer to route all client leads through their site.

To make the most of your web site, feature your URL on business cards, ads and in other promotional efforts. Consider purchasing exposure on legal directories and search engines. And ensure that once prospects arrive at your site they can easily find key information, then connect with you to follow up.

One advantage of a web-centric approach is that you can use software programs to analyze site traffic. These programs often are included when you sign up with a web site provider. They can help you determine:

That’s invaluable information for sharpening your marketing strategy. You might choose to purchase ads on your prospects’ favorite sites, for example. Or edit your promotional materials (print, online and broadcast) to stress high-impact, business-generating keywords.

Whatever decisions you make, with ROI measurement tools you can base them on objective, long-term data. The kind of information that chance conversations with clients, or the occasional one-off report, can’t provide.

4. Measure impact.
To accurately measure ROI, take both the tangible and intangible benefits of your marketing efforts into account.

You can crunch the numbers by calculating the dollars earned by an ad or other promotion versus its cost (factoring administrative time and other "hidden" expenses into your total investment):

Of course, ROI is not an exact science. Some strategies — volunteer efforts, sponsorships, community outreach — may score low in stark financial terms but still deliver for your firm by generating new leads, or rewarding clients for past business. They build name awareness, strengthen relationships and create goodwill, all of which are important factors in ROI-based decision-making.

5. Evaluate options. With ROI data in hand you can make informed comparisons between your client-development activities. One program may drive a high quantity of leads to your firm while another delivers great quality (a higher rate of conversion or larger, high-value cases). Your journal ads may primarily reach the corporate market while individuals find you online.

That information, plus other factors like how easy the program is to administer, will help you set priorities when you write your next marketing plan.

Be sure, however, that you’re making consistent, "apples-to-apples" comparisons. Choose the same 3-month or 6-month time frame, for example, when you run ROI numbers on print vs. web vs. broadcast and beyond.

6. Modify your marketing
The final step is implementing change. Use ROI-generated information to adjust your marketing strategy: to invest more where you’re seeing results and trim back or rethink what isn’t working.

Of course your practice goals change and so will the needs of clients. A marketing program or keyword that draws attention today may go cold six months down the road. ROI measurement — track, evaluate, then modify — is an ongoing process.

That takes commitment, but the payoff is there for your firm. In a more efficient lead-development budget, a better understanding of your client base and a bigger return on your marketing dollar.