Unconverted Leads: If You Don’t Mine the Diamonds, Someone Else Will

We’ve been talking over the last couple of posts about the hidden diamonds lurking in your law firm, in the form of unconverted leads. We defined unconverted leads as people who initially say no, and we’ve talked about the attorneys who don’t follow up with the ones who say no, but simply move on.

Now, I’d like to offer a sobering thought: If you don’t mine these diamonds, someone else will.

By “someone else,” I mean some other attorney, most likely someone in your own neighborhood.

Many attorneys view their unconverted leads as valueless—a waste of their time—when actually they are diamonds in the rough. Unpolished diamonds don’t look like the diamonds we see in jewelry stores. Similarly, unwitting attorneys pass over potential clients because either a) they don’t recognize them as diamonds, or b) they aren’t willing to take the time to polish them.  However, someone will eventually see their value, mine them, polish them—and get rich from them.

“No” Means “Not Yet”

Many lawyers fail to realize that when most leads say no, they are really saying, “Not yet,” or “Not right now.” They forget that these people would never have responded to your ad, called your office or made that initial appointment if they didn’t actually need an attorney. That means even if they say no at the moment, they will need an attorney at some point. If you get offended if a lead says no and write him off, eventually he will go to someone else—namely, whichever attorney saw the value and kept polishing until the diamond appeared.

My point: The diamonds hiding in your backyard won’t stay hidden forever.

We’re not just talking about the untapped potential that you can access at any time. If you fail to see the value in your unconverted leads, they will become someone else’s leads, and eventually someone else’s clients. When the law firm down the street starts thriving, while your firm continues to struggle, don’t be surprised or bitter: You’ll have no one to blame but yourself. You’re the one who left those diamonds to be collected.

Someone’s law firm will get rich from these diamonds in the rough. Why not make it yours?

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