Assess Your Local Market

Steve Nober at MTMP 2021

Steve Nober: (00:02)
Let me jump into assessing your local market. I don’t know if you’ve seen this, but I love doing this sometimes because it’s really interesting for your market. These are the top DMAs, right? So I didn’t use everybody, all the attendees, but basically they’re from everywhere in the country. Right? We took the top markets, top biggest cities in the country, and we said based on the population of that city divided by the legal spending, so we can track legal spending in every market. What’s the spend per person? Just very simple calculation, total dollar spent divided by population to get a spend per person. Because I think what that does is that gives you a way to compare every market in the country and how your city compares to everything else on how crazy the legal marketing is. Right? Digital, offline, TV, it’s all of it combined.

Steve Nober: (00:49)
And so, you’ll see here, Savannah at $18 is the highest. I can tell you the average is five to six dollars per person. That’s the average in the country. All the cities that made this list are probably places you go that you’re absolutely barraged with legal ads everywhere. It’s just good to know, right? It’s important to know if you’re in a market or you’re in the other markets, which is here’s the underspending DMAs in the country. And you guys can get this later. I think they have it in the book and they’ll send out these presentations after the conference. Or we can just send this to you. So if you want, just send us a note and we’ll send you this. And so, you’ll see it’s as low as 69 cents. Right?

Steve Nober: (01:31)
If you’re looking for different offices, do you want to relocate or open up a new in a new market, this is interesting to look at. How does the spend compare? And so, I’ll move on. So again, the average is five to six dollars. These are just interesting numbers. On the averages, we can go a lot more into the data, but I don’t have time today.

Steve Nober: (01:49)
And then I used Bart Morris, and he’s usually here, so he’s in the room, sorry, Bart. But he’s usually here. I’m just using him as an example. If you’re not looking at this in your local markets, you should, and we were happy to supply it for you. There’s no cost to it. Which is just a competitive look at your market, right? Who’s who’s spending what? And usually with Morgan these days, right, in after markets, there’s a dominant spender or someone else that’s spending five or six or eight times as much as anybody else. Right? If I asked you to raise hands, it’d probably be almost everyone here has that as their situation, right, in their markets.

Steve Nober: (02:22)
This is interesting because you can just look at who’s spending how much. You can look at what stations. Right? So you want to know what are they on, what are they not on? You can look at how does it break down by day part? How much money they’re putting into daytime, evening, late night? It’s interesting. And you can even look at searches in your market. Are they by phone? Are they on the computer? What else is there? Computers, tablets, or mobile devices. Again, what key words?

Steve Nober: (02:49)
If you’re looking to how to compete in your market, right, and reduce your costs, you’re going to go get mass tort cases or your single event cases, this is just, for me, I feel like it’s really good to look at, and it’s easy to get if you haven’t looked at it.

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