What Types of Metrics Can You Review in a Law Firm?
Without metrics, you do not have a way to analyze the marketing, financials, or operations of your firm. You are unable to make good fact-based marketing decisions that drive results, and it’s hard to identify or change issues clogging up your workflows. Metrics can improve both the operational flow of your law firm and the client experience. In this post, we will provide you with a list of basic metrics you should have available and review regularly. If you would like to learn more about why metrics are important for your law firm, check out The Top 5 Reasons You Need Metrics in Your Law Firm.
What You Need to Know
The amount and types of metrics you utilize will vary greatly between firms; however, there are three main categories all firms will use, which are marketing, financial and operational. Understanding the types of metrics, you need to review to improve your law firm is the first step to improving your law firm. By using data to make decisions, your marketing efforts will produce more returns on investment, your operational efficiency will increase, which will increase your revenues, profits, and client satisfaction (that will wrap around to your marketing and become the momentum of your word of mouth and referral leads).