How To Turn Your Practice or Firm Into A Money Machine....GuaranteedHow To Turn Your Practice or Firm Into A Money Machine....GuaranteedIs TV advertising a smart investment? Or a waste of money? The answer - it depends. That's not a cop-out on my part. It really does depend on the industry you're in, your niche and the market you serve.
I do know this - I find that many small business owners are intrigued by the thought of TV advertising, yet most freeze at the idea of actually doing it. You could call it fear....a fear that is based solely on not having the knowledge to successfully navigate the television industry.
They actually have an internal conversation, where they ask:
The answers to these questions are surprising. No, you do not need to hire an Ad Agency. They can be relatively inexpensive. And if you sell a service with a relatively high cost (Legal Services!), it can be very successful.
So let's take a look at television advertising for attorneys, specifically which attorney practice areas should consider it, the cost, and how and where do you begin the process.
At some point in your career, you've fantasized about having your own TV commercial. Come on - admit it....you've thought about it at least once, haven't you?
Not to worry - it's okay. There's nothing wrong with that. Because for certain practice areas, the return on investment is staggering....and a much better investment than other alternatives.
So, which attorneys should consider taking the fantasy and make it a reality?
That's it - if you practice in other areas, you can stop reading - TV advertising is not for you. For those that practice in the areas listed above, it is definitely worth investigating, so read on.
Ahhhh....the cost - it's typically the reason why most business owners shy away from TV advertising. The truth is, it can be very inexpensive.
When looking at the cost of a television commercial, it's broken-down into 2 separate parts. One, the cost of making the commercial (production time). And two, the cost of putting in on the air.
The production of a TV commercial should be in the neighborhood of $500 - if it's considerably more than that, you're getting ripped-off.
The second cost, airing the ad, is determined by the the number of viewers that are expected to be watching at any given time - these are determined by Nielsen Ratings.
Primetime is where most stations want you to advertise because they charge a whole lot more those time slots. My advice....never advertise during primetime - your ROI will be in the toilet.
Daytime, late-night and overnight spots are where you want to air your commercial. For example, a 30-second ad during the day that has 10,000 viewers in your market should cost less than $60 to air it.
And late-night and overnight 30 second times can be purchased for as little as $5 each - pretty reasonable, wouldn't you say?
What do these costs mean to you? It means you could spend less than a $1,000, in one months time, and generate between 2 - 6 new clients. So, if a new client is worth $5,000 to you, the potential is there for $30,000 in new business. Not a bad return, is it?
I have three rules for getting an effective ad made without going broke.
My advice - if you know of another attorney (in a non-competing practice area) that uses TV advertising, and they use it a lot, ask them who did their commercial. If they're using TV ads on a regular basis, their ROI is very solid....and they're using a consultant who knows the ins-and-outs of attorney advertising.
If you can't find someone local, I'd recommend Gary Davis, the best TV Ad exec for small businesses that I know - and a large part of his service caters to Television Advertising for Attorneys.
He's got a really informative site, and if you contact him, make sure you let him know that The Attorneys ATM sent you. Who knows....there might even be a discount in it for you.... :-)
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