For several years in a row, since the end of 2020, the bankruptcy market has been experiencing deep volatility. The COVID-19 pandemic has had a tremendous impact on the entire global economy, and businesses are forced to survive in extreme conditions.
Many experts expected a sharp increase in bankruptcies, but the result was very different. Epiq statistics show that total bankruptcy filings during the calendar year 2021 decreased 24 percent from 2020. The reasons for this were the government relief programs, lender deferments, low-interest rates and other efforts to support businesses.
Due to such economic fluctuations, bankruptcy practices saw their demand shrink by 7.8% versus 2020, according to a Thomson Reuters report. To stay afloat in these conditions, bankruptcy law firms should make the most of marketing opportunities. The market has become too complex to rely only on old customers and word of mouth. It’s time for lawyers to pay more attention to promoting their business.
The pandemic has affected the legal industry in other ways as well. Of course, we are talking about the fact that more and more potential customers are looking for the necessary services not offline, but on the Internet. Law firms have a hard time getting used to this innovation. For example, many solos still don’t have a website, according to a study by the American Bar Association. And this is a huge mistake as it limits access to a large online audience.
The same ABA`s study says that even those lawyers who have their websites pay little attention to their online resources. In other words, they have a tool to get new customers, and they don’t use it!
Digital marketing agency Lasting Trend deals with such problems. Our team offers a whole range of law firm website marketing services for bankruptcy lawyers. We describe these services in more detail below.
Website development and design is the first step you need to take to promote your business online. Moreover, the Lasting Trend team recommends creating at least a basic version with a simple design as soon as possible. You can refine and improve the resource later.
If you already have a website but have not developed it for a long time, we recommend that you first audit the website and eliminate any errors that are found. In particular, it is necessary to make sure that the online platform is convenient for visitors and the user experience is positive.
Each of these stages is associated with technical details. That’s why you’d better seek professional help. Lasting Trend SEO experts will help you create and improve your site so that it performs its marketing tasks as efficiently as possible.
Now let’s move on to our next step – writing content. In fact, any website, even with the most successful and beautiful design, is completely useless without quality, interesting, unique and optimized content.
It must be said right away that those texts that lawyers are used to writing – with a lot of complex terms and confusing phrases – do not fit here. Bankruptcy law firm marketing will be effective if all the information on the site is simple and understandable for the average person.
It doesn’t mean that the texts must be primitive and banal, but it means that complex information must be explained in an accessible language. How to find and maintain this balance? It is difficult for an ordinary copywriter to work with such topics because these are complex legal and economic areas.
Lasting Trend offers its solution to the problem – we cooperate with experienced paralegals who write high-quality texts. Our SEO specialists do keyword research and select topics for paralegals. Thanks to this, finished articles are well perceived by search engines and are ranked on the Internet.
Another scenario is also possible. Above we talked about how we create text from scratch. But what should you do in a situation where the site already exists and the article on it has also been posted for a long time? Maybe you should delete completely existing pages and create new ones? Oh no! It will be a gross mistake. Deleting pages can have a bad effect on the ranking of a website.
But to rewrite and optimize the texts on existing pages is a good and effective tactic. Before starting such work, you need to first conduct a content audit. Then rewrite existing texts or publish new ones.
At the same time, you need to keep in mind such on-page SEO ranking factors as content relevance, keywords, titles, title tags, URL structure, meta description, etc. If you do not know and understand all this terminology, do not try to do this work yourself. Once again, we recommend that you seek professional help in this case.
We continue to track our path to a successful website. As you probably guessed, in addition to on-site (on-page) optimization, there is off-page optimization. This term refers to any activity outside of your website that helps develop your platform. In particular, it includes link-building.
An excellent example of link building is an article in BLF Magazine. Our regular client, the New-York based law offices of Yuriy Moshes, is the invited expert here. And along with the lawyer’s quotes, there is a direct link to the law firm’s website.
The more such links will be on other online resources, the higher the ranking of your website will be. Of course, the “quality” of these sites also matters. Placing links on dubious resources can lead to negative consequences. But links in legal media such as Bigger Law Firm™ Magazine will have a beneficial effect on your rankings.
Lasting Trend helps law firms develop and implement a link-building strategy. Our experts know many ways to link to your firm on other platforms.
Despite the doubts and skepticism of many business owners, customer reviews are an effective tool that is often used in law firm website marketing for bankruptcy lawyers.
We mean reviews both on the website of your law firm and on other resources. For example, these can be specialized legal and general marketplaces, forums, social services (such as Quora or Outbrain), etc. Posting reviews on any of these resources requires certain skills and a lot of time. However, reviews on the firm’s website are also a considerable layer of work.
Firstly, you need to convince the client to say at least a few phrases, and it is better to record them on video. Then users will be able to make sure that the review is real and that you are not deceiving anyone. In the legal industry, honesty is of the utmost importance. Secondly, these reviews must be properly formatted and published, supplementing with the necessary information with numbers, dates and other specific facts.
When used wisely online reviews can go a long way in promoting your business.
Many bankruptcy law firms completely ignore social media and do not have official accounts there. Firm owners believe that their target audience does not spend their precious time on social networks, which means that firms will not find customers there.
However, much depends on the social network itself. Some of them can really become your reliable networking assistants. For example, you definitely need to get your pages on LinkedIn and Facebook. Business people are highly active here.
It’s harder for law firms to grow their accounts on platforms like Instagram. But even here, for example, short useful videos with your advice may be quite appropriate. Also, you can publish long and detailed videos on YouTube.
As you can see, there are many options for the development of bankruptcy law firm marketing on social media. Don’t miss this opportunity to expand your audience!
Choosing a reliable marketing agency is a difficult task. On the one hand, the number of companies that can offer you these services is huge. On the other hand, you risk running into non-professionals.
That is why the first piece of advice that we can give in this case sounds like this – choose an agency that already has experience working with law firms. The legal industry is too complex and specific, it requires marketers to have specialized skills and knowledge. The same can be said about SEO specialists, copywriters, etc. They must understand legal terminology (and in the case of bankruptcy law firms, it becomes necessary to understand economic terms), the rules for publishing legal materials online, and many other subtleties.
For example, Lasting Trend has been partnering with law firms for over five years. At the same time, we continue to improve and develop in the direction we have chosen.
This is another criterion by which you can choose a marketing agency. When you monitor and compare companies, look at their performance.
Perhaps these marketers have collaborated with law firms before, but this experience was unsuccessful. To be convinced of the effectiveness of the agency’s work, study those cases that are published on its website.
For example, the Lasting Trend website has a Results section. You can see here our partnership history with the Law Office of Yuriy Moshes, which we talked about above. Our case clearly shows how high the results of promoting a law firm can be if a marketing agency uses the right approaches.
We are always ready to confirm our knowledge, experience and performance with specific cases and partner reviews.
One of the reasons for our high efficiency is the Lasting Trend team. Of course, from time to time we turn to outsourcers for help when we need to solve a specific problem. But the basis of our agency is in-house marketers with extensive experience.
Our team includes specialists with a unique set of skills. They have been working with law firms for a long time and understand what kind of knowledge is needed here in the first place. When we need a new team member, we select a specialist with these qualities. Moreover, all agency`s employees constantly expand their knowledge, closely monitor all changes in the market, and attend courses, seminars and training.
Therefore, we have a close-knit team that can solve tasks of increased complexity and at the same time bear responsibility for the result.
The path to success is never formulaic, and we can say this also about law firm website marketing for bankruptcy lawyers. For online promotion to be effective, you need to follow a few basic steps, which we have already talked about. But after the website audit is completed, each client begins their development path.
Much will depend on the goals set, the advertising budget of the company, brand recognition at the moment, etc. Some already have a good website and just need to run an effective PPC campaign, while others need to start from the very beginning by developing their online platform.
That’s why Lasting Trend works with clients individually, choosing the best ways to develop and promote a law firm.
Some clients come to us for help after they have tried marketing on their own. Someone tried to launch advertising campaigns on social networks, someone even tried to delve into the intricacies of SEO. Still, others hired one or two marketers on staff. Usually, such experiments ended either in complete failure or with a low result and a waste of time.
You must understand that digital marketing is directly related to the use of a large amount of modern software. Those programs that marketers and SEO specialists usually use in their work are very expensive. For many law firms, these costs are excessive and unjustified. You may buy one or two of these programs, but your specialists will need to have about a dozen of them. What will you do in such a situation? Buying all the software is not rational, and without these apps, your marketing department will not be able to give you a high result.
The best solution to the problem is to contact a digital marketing agency. For example, Lasting Trend has a wide range of tools that help you work with websites, identify technical errors, optimize content, and more. We use these tools all the time, they are an integral part of our work, so we carefully monitor any technological innovations and implement them in our work. Thanks to this, we have the opportunity to use advanced technologies for your service.
Those bankruptcy law firms that choose a marketing agency should pay attention to prices. This is a factor that can seriously affect your final decision. Therefore, it is very important not to make a mistake here.
Let’s say you’ve already weeded out some applicants and narrowed down your search. There are only a few agencies left on your list that you could start working with. Then contact each of these companies and ask for a detailed price list for their services, and then compare the numbers with each other.
Also, at the preliminary stage, you can compare prices in short price lists, which are published on their websites by many agencies. Here is the price list on the Lasting Trend website. If the company does not publish its prices, it may look suspicious, be careful in this case.
If you contact the Lasting Trend digital marketing agency, we will provide you not only with a price list but also with a full justification for our prices. You will know exactly what and why you pay this price. Moreover, you will have the opportunity to adjust the list of services every month depending on your tasks and advertising budget.
Bankruptcy law firms are among those companies that are rather slow to move online in order to find a new audience. Bankruptcy lawyers are in no hurry to create their own websites and social media accounts.
Lawyers explain this behaviour by the fact that they are guided by the older generation, which spends little time on the Internet. This point of view will inevitably lead to collapse because every year more and more people are looking for legal services online. In the future, the trend will be even more obvious, as Gen Z, which literally does not part with gadgets, will become lawyers’ clients.
Therefore, it is extremely important for law firms not only to create a website but also to engage in its active promotion. Only in this case, your online platform will become a real tool for the development of your company.
You can get the results you want faster by partnering with the digital marketing agency Lasting Trend. We will help you think through and implement a marketing strategy, keeping a balance between the tasks, market realities and your financial capabilities. Our experience will make your law firm successful.
According to research, bankruptcy practices allow law firms to have one of the highest average hourly billing rates. But to earn that much, your brand must be well known to the audience. Then customers will come to you. However, it will be difficult for you to achieve this without advertising and promoting your brand.
On the other hand, during difficult periods when the number of customers is decreasing and profits are falling, you also need to use marketing. Otherwise, you will not be able to compete with other law firms that are actively “hunting” for potential clients.
In other words, bankruptcy practices – like the entire legal industry – is a very tough market where every day you have to fight for your place in the sun. In today’s technological world, you will only be able to reach the top positions if you pay enough attention to bankruptcy law firm marketing and especially digital marketing. The Internet will allow you to expand your audience and get new applications for your services.
Lasting Trend’s digital marketing team consists of experts who have many years of experience working with clients from various industries. For example, the agency founder Tim Absalikov worked for a long time in a big corporation with an office in Manhattan and was engaged in the development of a large number of sites. Among them were legal platforms. Now Tim is using the experience gained there in Lasting Trend.
The marketing agency was established over five years ago, and one of the first clients was the New-York based law offices of Yuriy Moshes. Lasting Trend specialists successfully completed the tasks that the client set for us. Including raising organic traffic 50 times in two years and increasing the number of leads per day several times. Since then, Yuriy Moshes has been our permanent partner, and we continue to improve our services for law firms.
For instance, we hired paralegals who write high-quality texts on legal topics. Therefore, we can always help our clients with content marketing. You can learn more about these and other services for lawyers by applying for our free consultation.
Facebook is a proven marketing platform for promoting any type of business, including law firms. Therefore, the digital marketing agency Lasting Trend has been working with this social network for a long time and has marketers with extensive experience working with Facebook Ads Manager.
Facebook is a great opportunity to find new potential clients. Also, Facebook has a good system of advertising settings, and thanks to them we can clearly define our target audience in the advertising account. In addition, the social network allows you to qualitatively track and analyze statistics, and analyze the effectiveness of advertising.
Unlike some other social media, Facebook is very convenient for developing business connections and increasing brand awareness. We can create a positive image of the company with the help of content, unique design, correct communication with the audience, etc.
Also, our services include:
analysis of previous advertising campaigns and statistics about subscribers and competitors;
development of a new marketing strategy and advertising campaigns;
constant monitoring and optimization of targeted advertising to save your advertising budget, etc.
The methods used by Lasting Trend experts will allow you to quickly and honestly increase the number of subscribers and increase the popularity of your bankruptcy law firm.
Pay-per-lead (or Cost-per-lead, CPL) is a method of paying for advertising, where the advertiser pays for getting the user’s contacts (lead). Such data can be collected through online applications and various questionnaires.
The complexity of PPL lies in the fact that payment occurs for any contact left, regardless of whether the lead has become a client or not. This means you can get data from a lead that is not loyal to you. Also, you need to take into account the specifics of bankruptcy law firms. This is a fairly narrow specialization, so the risk increases that you will receive contacts of a client who will not have questions about bankruptcy.
On the other hand, you can profitably use the received contacts for other marketing purposes. For example, the data generated during the PPL campaign can be used to create mailing lists, reward programs, and so on.
You can increase your chances of success if:
the website provides specific data about your services. It’s better if the link leads to a landing page;
you take into account the conversion. For example, if it’s a call, you must implement a call tracking system. If this is an application, the contractor and the customer should be able to track their number.
Also, before launching such advertising, consult with professional marketers. Lasting Trend experts will tell you how effective PPL will be in your case and what other types of advertising campaigns (for example, pay-per-click) you can use to achieve your goals.