What’s in a Name? Investing in a Web Domain for Law Firm Growth
In this blog, we discuss how investing in a web domain name can be an effective way for young law firms to stand out from a crowd of competitor law firms.
Standing Out in a Competitive Market
The contingency fee legal industry is a highly competitive market. Young firms specializing in attractive practice areas under the personal injury umbrella, such as auto accidents and medical malpractice, will find themselves up against megafirms with deep pockets. So how can a young law firm stand out from the crowd to land a steady stream of cases?
When faced with limited budgets and few resources, it may seem like an insurmountable task to compete for the same clients and cases. However, there are many marketing maneuvers that smaller firms can leverage. One of these is purchasing a relevant web domain.
Building Your Brand Through a Relevant Web Domain
First, focus on specific kinds of cases and work to build your firm’s brand on its success of litigating such cases. This will establish a sense of trustworthiness for future clients. For example, your firm may specialize in auto accidents, but have particularly high success rates in garnering large settlements for auto accidents involving drunk drivers. Second, build upon this strength by fast tracking auto accidents with drunk drivers through your intake process. This will help you continue to build a body of work that demonstrates your firm’s expertise. Third, leverage this strength through your marketing by touting these successes in your advertising. Lastly, consider purchasing a domain name that specifically addresses these kinds of clients such as drunkdriver.com.
Most law firms have web domains that reflect their firm’s name which is usually a combination of the names of their managing partners. This is not a sticky enough brand for consumers to recall when they find themselves in need of your services. However, simple domain names using key terms that describe the tragedies that have befallen them are a better case acquisition tool. This is why domains such as injury.com or accident.com are often expensive to purchase because a broad segment of consumers will search these terms.
If big ticket domain names are often expensive, how can a small firm hope to purchase one? Firstly, you can try to find a more niche or lesser-known derivative of the domain. For example, injury.com is taken but injury.lawyer is not. Secondly, you can explore financing for investing in a web domain. Taking on financing is not something that young firms often consider, but it can often help accelerate growth. Financial products such as a Case Cost Line of Credit can free up cash flow tied up in case costs for investing in marketing and growth, such as a purchase of a domain.
To learn more about case cost financing and how it can create the liquidity needed for investing in a web domain, read these additional blog resources:
- How to Experience Exponential Growth: Building Your Firm’s Brand
Meet with Esquire Bank
Learn how your law firm can leverage case cost financing to free up capital that can be invested in marketing, technology, talent, operations, case acquisition, and scaling law firm growth. Schedule a no-obligation consultation with an Esquire Bank Business Development Officer today at a time convenient to your schedule.
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The information provided in this blog is provided for general informational purposes only. Some of the information may not be applicable or appropriate for all law firms.
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- Content Type: blog