“Why should we track where our marketing leads come from?” This question, posed by the managing partner of a successful boutique law firm, took me by surprise. When we talk with firms about whether or not they track the sources of their leads as well as actual business, they usually steer the conversation toward the challenges of the mechanics, not the valid, essential, and underlying question of why they should consider doing it.
In our experience, most firms do not do an adequate job of tracking their new business development efforts. If they monitor any information, it is the sources of actual new business, but not where the opportunities come from, and very often they are lax about tracking anything. In general, plaintiffs personal injury firms and others heavily marketing to consumers are much more likely to track both marketing and new business results. This may be because there is often a direct line between the marketing and the result, making it easier to capture than other kinds of long-tail, meandering-path marketing.
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