Steve Nober at Mass Torts Made Perfect 2021
Steve Nober: (00:02)
So, what does next year going to look like, right? It’s an interesting time of year to ask this question. What’s the balance of your local single event? What are you going to do with mass torts? I think it’s great there’s a record amount of new firms that have not been to an MTMP, that are here this year. It’s amazing. It just shows you the interest level. Right. And mass torts is expanding quickly, so I would guess there are more and more firms that are going to put more energy resources, money, into the left side of that, the mass torts side. And so, it’s hard to figure out, it’s actually impossible, right, to figure out how to spend your money to be perfect. And I say that, not just in mass torts, but in your single event too. How much to put where? Right. How often to change it? It’s an impossible, I think, task to perfect, because there are too many options.
Steve Nober: (00:51)
And so, I know everybody struggles with that each month, you all have your formulas that you’re using, that work for you. Right. And so, there’s a lot of channels. Which one do you get the best ROI? Where’s their best branding for your firm? What are the diminishing returns? So all these are variables. Right. And then you’re trying to perfect it, and it’s almost impossible. And so, I would just argue that, if you introduce more tracking and analysis into your activity, all the way from what you’re spending to the response, whether it’s digital or telephones, to what qualified, to what you signed, to back to originating, where did it come from that you signed? And not just tracking it, but actually doing something about it.
Steve Nober: (01:31)
If I ask a room, how many track what comes in each week, each month? Most of the room is like, “Oh yeah, we track it. We absolutely do. In our law firm, we have a great system. We track it all.” Which is great, because you should. But then I ask the question, so how fast do you make changes from the data you’re tracking? And usually, that’s where it’s less people responding. Because it’s hard to do that, right? If you’re doing your marketing internally at your own firm, it’s not easy to be that quick and flexible. And so, that’s the difference of reducing your costs and being the most efficient you can in your marketing. It’s just tracking and getting the right data points, and then making decisions quickly.