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The Real Cost of US Immigration Lead Generation Programs

 
 
To effectively sustain an immigration legal practice, attorneys must constantly generate new immigration case leads and retain them as clients. This is an important concept that attorneys understand, but the execution and lead generation process is complicated, and executing it successfully and consistently can be challenging. In the current competitive immigration law marketplace, it can be difficult for law firms to differentiate between the various lead generation models overall costs and ROI.
 
It is important to understand how lead generation models affect cost per lead and cost per acquisition, as well as the effect of lead conversion rates on client acquisition costs and return on investment (ROI) for law firms. The two basic lead generation systems used to send new immigration leads to law firms are, exclusive lead distribution and non-exclusive lead distribution.
 
Non-Exclusive Lead Generation: Cost per Lead vs. Cost per Acquisition
 
Non-exclusive lead distribution models are based on generating new case leads in a market area, and then selling a lead to multiple attorneys that compete for it.

The Impact of Direct Competition: Cost per Lead and Conversion Rates

While direct cost per lead is low, cost per acquisition is higher when you consider lead conversion rates. Despite the fact that the direct cost for a immigration lead is low, the probability of retaining a new client decreases based on the number of competing firms purchasing the same lead. Additional factors such as call back time are even more critical to increase the conversion of a lead to a new client.

Cost per Acquisition

When considering lead generation value, it is much more important to focus on the cost per acquisition, the cost required to retain a new immigration client, not just the cost per lead. For law firms, 10% is a conservative lead conversion rate (i.e., an attorney retains one new client for every 10 immigration leads generated). Consequently, when direct competition is factored into the equation an attorney’s typical lead conversion rate declines based on the number of competitors.

Exclusive US Lead Generation: Cost per Lead vs. Cost per Acquisition

Exclusive lead generation models are based on generating new immigration leads in a market area for one law firm exclusively, eliminating direct competition when a law firm receives a new immigration lead. At first look, exclusive lead generation models can appear to be more expensive than non-exclusive lead models because they typically have a higher cost per lead, such as $200-$400 for a personal injury lead.
 
Cost per Acquisition
 
While direct cost is higher when compared to non-exclusive lead models, overall value becomes much more attractive when you consider the cost per acquisition.
 
The Impact on Attorney ROI: Conversion Rates and Program Cost and Features
 
When using a immigration lead generation program, the two most important metrics to evaluate are the costs conversion rate. These two metrics will determine the return on investment (ROI) for law firms and play a role in understanding the overall program value.

Conversion Rates, Cost per Acquisition and ROI

Exclusive lead generation programs have a better lead conversion rate than non-exclusive models due to the absence of competition. This is important to note because an incremental increase in the lead conversion rate can have a major impact on the cost per acquisition and ROI.

If the lead conversion rate is 20%, which is more typical with exclusive lead distribution models, instead of acquiring one new client for every 10 case leads (10% conversion rate), an immigration attorney would retain two new clients for every 10 immigration leads. The 20% lead conversion rate now significantly reduces the cost per acquisition for a retained client.
 
The lower a law firm can lower the cost per acquisition for a new client, the higher the return on investment for the attorney.
 
The Immigration Attorney Network is a Cost-Effective Solution to US Immigration Lead Generation Call 855 461 0009 for a Free Consultation
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