Situation: I had the opportunity to work on a project with an unnamed specialty finance company that provides upfront payments to individuals with structured legal settlements or annuities.
This client had received an injection of capital and one of the goals was to scale the business quickly. Like most businesses looking to scale rapidly, a good portion of the funds were earmarked for marketing campaigns. The company needed to generate new clients, so the team decided that a direct response campaign focused primarily on lead generation aligned with the company’s growth goals. The marketing plan that was proposed included a channel mix of TV Cash activities, TV Per-inquiry activities, SEO and PPC.
Complication: The marketing team negotiated a great deal with a TV Per-inquiry vendor. However, one of the requirements from the vendor was that phone calls needed to be answered and minimally screened 24 hours a day, 7 days a week. The specialty finance company did not have the in-house capability nor the technology in place to fulfill this requirement. The team did not want to wait 3-6 months to build this function in-house.
Solution: We determined the best approach was to transition the initial call answering, screening, and lead qualification of new sales leads to a 24/7 call center. The call center we chose had the capabilities and technology already in place to meet the TV Per-inquiry vendor’s requirements. Additionally, the call center had an outstanding level of service and had established a rigorous agent training program. After a few weeks of routine account set up, configuration, data transfer programming and agent training, we were able to go live using this media channel.
Results: The result was a multi-year TV Per-inquiry effort which generated 1,000’s of leads and 100’s of new clients with high performing cost-per-lead and cost-per-acquisition metrics.
Take Away: Overall, the team aligned their marketing strategies, technology and service operations to open new untapped marketing channels. Utilizing this marketing channel ended up lowering the company’s overall client acquisition costs.
About Compass Growth Partners: Compass Growth Partners is a boutique consulting firm that helps personal injury law firms accelerate their growth by simplifying, streamlining, and enhancing, their client acquisition processes – from lead generation to client retention.
We apply our proven processes and knowledge of lead generation, lead nurturing, and client retention activities to help law firms retain more clients, quicker – accelerating their growth and increasing law firms’ lead-to-client conversion rate by 25%.
Contact: Scott D. Lafferty, Founder & CEO