Law firms are now finding their business using more creative methods. Rather than getting tons of phone calls from consumers with referrals from people they trust, they are now counting on collecting data that will give them insightful information about companies that desire to use their services. How does harnessing this intent data work?
Intent data is data that has to be gathered for the purpose of finding out what consumers are interested in. What type of food do they like? What type of car do they drive? Law firms can now dial in to a much closer desire of their ideal client. Data harnesses tons of useful information to help determine if they are likely to hire a specific type of law firm. This allows law firms the world over to run ads online that are customized to a particular group of people. This means that potential clients have essentially been pre-qualified. How then is the data divided up?
Types of Intent Data
1. First-Party Data. When someone visits the website for the law firm they can be tracked. This means that this individual is now deemed first-party data. The same is also true if a law firm were to hold a webinar or zoom call regarding education on traffic law. Those who register for a webinar with said law firm would be considered first-party data.
2. Third-Party Data. While first-party data is always preferred, it is also true that third-party data can be purchased and is also useful. This type of data is generally purchased from companies that specialize in gathering data. This data is usually found on websites that contain information regarding buyer transactions on various publisher websites. One of the most popular third party websites is Thomson Reuters. There is a ton of financial information on there, and law firms can purchase buyer information from them when consumers have watched their videos or subscribed to their emails.
3. Individual Data. True individual data is somewhat like first-party data. Most businesses offer an electronic newsletter. When a buyer goes to the website and subscribes to the newsletter, or a subscription is made to the firm’s YouTube Channel, this is direct contact with the law firm. The consumer has chosen to make their very own connection with the law firm and ask for more information. This is showing genuine interest and reduces the effort and cost that the law firm has to put into attracting more clients.
4. Company Data. There are so many ways now to gather data, that law firms have now started utilizing a lot of the same tools small businesses and big box stores are using. Social media and other tools like downloadable E-books and digital products will also allow law firms to acquire their own company data. This means that there is a ton of responsibility that comes with this as well. It has to be protected and so does the intellectual property.
Online tools and digital marketing have now made it easier than ever for the client to find the service provider. This has also made it easier for businesses large and small to market directly to the consumer. Trackable tools for digital content make it possible for law firms to track user activity. A tool known as pixel carries so much ingenuity that it allows the law firm to track the activity of the user once they leave their own website. That’s clever marketing right? Jay Glickman, a Montgomery County family law attorney, I need it read “Hank Stout, a Houston truck accident lawyer” said he was one of the first to adopt this technology. “When I heard about it I immediately knew it would be a fantastic tool.”
Harnessing data and information is easier and it is acquired much faster than it used to be. Information is acquired at breakneck speed and it is also purchased at a high-cost when it is purchased from the very best sources outside of a company that acquires their own data. Focusing on providing rich content targeted to the ideal client will reap huge dividends for any law firm that invests the time in doing so. The more valuable content that is produced, the easier attracting the right clients becomes.