4 Tips for Financing and Marketing Your Personal Injury Firm

personal injury firm

marketing planMarketing and financing methods you can use to build your reputation and and gain new clients for your personal injury firm

Financing and marketing can be complicated processes, especially when you’re just starting and want to build some traction for your business. You may not have the financial backing to run an effective campaign or the necessary brand recognition to gain new clients. But what if you’re told there are ways around these difficulties?

Below are some tips on financing and marketing your personal injury firm to successfully grow your business.

Be Mobile-Friendly – Know How Clients Look for You

With more and more businesses focused on mobile engagement, knowing how to help your clients find you on mobile can be the difference between securing clients and failing to get them at all. Online traffic is four times more likely to convert than traffic from a search engine. Personal injury firms must understand how clients look for them and have a mobile-friendly website.

If there has been any recent big news that may have affected large amounts of people, you can also use that to your advantage and craft your advertisements around that subject. For example, the Shelby Mustang GT 500 was advertised as over 50 horsepower less than it actually was. If that were to happen today, and people were getting injured because of it, you could make your advertisements geared towards those types of clients.

Accelerate Cash Collection And Accounts Receivable

Before you can even think about taking on new clients, you must first maintain your accounts receivable. Your accounts receivable is the number of clients who still owe you money for the work you completed for them. Did you know that approximately 70% of small businesses employ a tax professional for tax preparation and IRS concerns? Getting the help of a tax professional will not only will this keep you motivated to collect, but it will also give you a high ROI if you can manage to collect a portion of your clients’ bills. Also, maintaining an impressive record of accounts receivable is an easy and efficient way to generate revenue.

Search Engine Marketing – Help Clients Find You

Your clients might not realize that you’re operating an injury firm when they call you for a ride to the hospital. And even when you tell them, they may not be sure what you are doing. Search engine marketing may be a great way to tell your story and build your reputation. By carefully writing targeted content for potential clients, you’ll be sure to let them know why they need you. You can even offer them an incentive to sign up with you, like a discounted price or a paid-per-call program.

Build Your Cash Reserves & Credit Lines

If you don’t have the funds to fund your growth, there are still ways you can get the cash you need to open new offices and get your name out there. Did you know that under the Workers’ Compensation Act, employees have many rights? If necessary, they can get death benefits for their dependents, vocational rehabilitation training, and weekly income benefits for days missed from work. This is important to remember as you think about the cash line you need, as you should have some money aside for employees in case of a worker’s compensation claim.

Be sure to use the early stages of your legal career to build up your liquid assets and credit lines. It may require giving up some flexibility in your financial plans, but if you build it, they will come.

If you want to have a sustainable practice, you will need to build a strong reputation as an established lawyer in your area. And if you’re going to do that, it’s crucial to have access to the capital you need to meet the increased demand.

Use Ad Extensions to Dominate Search Results

There are many new ways to run a search engine campaign nowadays. Using ad extensions, for instance, can allow you to have a more dramatic impact on search engine results. By doing so, you can guarantee that your firm’s listing will show up in the search engine results for personal injury search terms.

You can also pay for keywords that are already active on the internet. This is also a good strategy if you’re not sure whether your company is genuinely listed for personal injury. Using this method, you’ll still have to pay, but at least you’ll know for sure if your business is running on search terms relevant to your company.

Many factors will determine the success of a personal injury firm. One of them is the size of the business and its revenue. But the other is the way the business is run and what marketing and financing methods you use to build your reputation and interest.

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Valerie M.

Contributor at Small Business Marketing Tools
Valerie M. is a writer from Upstate New York. She received her Bachelor’s degree in Journalism from The State University of New York at Fredonia in 2016 and is currently working at a digital marketing agency where she writes blog posts for a variety of small businesses all over the country. Valerie enjoys writing about music, animals, nature, and traveling.