Lead conversion is the single most effective tool you can use to have a record-breaking year.

In a previous video interview with Cindy Greenway at LawMarketing.com, I shared the 3 major areas that every law firm needs to focus on:

1. Lead generation

2. Lead conversion

3. Client retention

Lead generation is the second most expensive thing a law firm will spend on other than payroll and office space and it's getting more expensive. It will cost law firms more this year to get the same amount of leads than it did last year.

In this video, we focus on lead conversion and why attorneys need to understand the 5 Stages of Lead Conversion:

Here's a quick summary of the stages we covered:

Stage #1: Number of leads at the top of the funnel. You need to be able to track how many leads are coming -- via phone, via your website -- all areas.

Stage #2: How many leads turn into appointments. Law firms needs to track how many leads turn into appointments -- how many come in via phone, via the website, etc. The biggest mistake and time waster is to try to convert someone over the phone -- get them into the office and you'll have a higher chance of converting them into a paying client.

Stage #3: How many appointments show up? Track this information -- it's important.

Stage #4: How many people signed up to be a client at the consultation - before they walked out the door?

Stage #5: How many people signed up to be a client AFTER they left the office from a consultation?

In an upcoming video, Cindy and I will talk about tips to support lead conversion so you can convert as many leads as possible into paying clients.