Event Analytics Your Law Firm Needs

The Event Analytics Your Law Firm Needs to Track for Increased Post-Event Follow-ups and More ROE

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In the fast-paced world of legal practice, hosting events is not just about gathering professionals—it’s a strategic opportunity to build lasting connections and foster potential client relationships. To maximize the impact of your legal events, it’s crucial to harness the power of event analytics. In this comprehensive guide, we’ll explore the key event analytics your law firm needs to track for enhanced post-event follow-ups.

Introduction

Legal events serve as a platform for knowledge exchange, networking, and client engagement. However, their success doesn’t end when the event concludes. The real value lies in the follow-up strategies that nurture connections and convert event attendees into long-term clients. Let’s delve into the event analytics that will elevate your post-event follow-up game.

Key Event Analytics for More Post-Event Follow-ups

1. Client Conversion Rates

Understanding the percentage of event attendees who converted into clients provides a direct measure of the event’s impact on business development. Track this metric to assess the success of your legal events in generating new business opportunities.

2. CLE (Continuing Legal Education) Credit Utilization

For events offering CLE credits, monitor how many attendees took advantage of this educational opportunity. This data not only reflects the value attendees place on educational content but also guides the creation of targeted follow-up materials.

3. Legal Networking Platform Connections

If your law firm uses legal networking platforms for post-event connections, track the number of connections made. This metric indicates the success of your event in fostering professional relationships and provides a foundation for ongoing networking efforts.

4. Post-Event Survey Responses

Gather feedback through post-event surveys to understand attendee satisfaction, areas for improvement, and specific legal topics of interest. Use these responses to shape future events and tailor follow-up communications to address attendee preferences.

5. Social Media Engagement Metrics

Analyze post-event engagement on social media platforms. Track likes, shares, and comments related to the event to gauge its reach and impact beyond the physical gathering. Social media metrics offer insights into the broader community’s perception of your law firm.

6. Legal Case Study Downloads

If legal case studies were part of the event content, monitor the number of downloads or accesses. This metric indicates the interest in applying legal insights presented during the event and provides valuable content for follow-up communications.

7. Post-Event Webinar Attendance

For virtual or hybrid legal events with post-event webinars, keep an eye on attendance. High attendance suggests continued interest in the legal topics discussed, offering opportunities for further engagement through follow-up webinars or targeted content.

8. Legal Consultation Requests aka Post-Event Leads

Track the number of post-event requests for legal consultations. A surge in consultation requests indicates that attendees found value in the event and are actively seeking personalized legal advice.

9. Follow-Up Email Open and Click-Through Rates

Measure the success of follow-up emails by tracking open and click-through rates. These metrics provide insights into the effectiveness of your post-event communication strategy, helping you tailor future communications for better engagement.

10. Referral Metrics

If your legal event included referral programs or incentives, track the number of referrals generated post-event. Referral metrics showcase the event’s impact on expanding your legal network and can lead to valuable connections and new clients.

Revenue Specific Metrics

The ultimate goal of post-event follow-ups is to convert connections into revenue and business opportunities. Here’s how the tracked metrics contribute to this overarching objective:

Client Conversion Rates: Directly correlates to new business generated from event attendees.

Legal Consultation Requests: Translates into potential revenue from personalized legal advice sought post-event.

Referral Metrics: Indicates the expansion of your legal network, potentially leading to referral-based business opportunities.

Post-Event Webinar Attendance: High attendance suggests sustained interest, providing opportunities for additional webinars or services.

Solutions and Strategies: Leveraging Nexl’s Event Management Solution

Acknowledging the challenges is the first step, but overcoming them requires strategic planning and innovative approaches, particularly leveraging technology. Let’s explore how specific features can address these challenges.

Pre-Event: Strategic Follow-Up Campaigns with Nexl’s Event Management Solution

Event List Building and Audience Segmentation

  • Focused Engagement: Easily segment your audience lists to connect meaningfully with the right clients.

  • Tailored Communications: Send relevant messages to the right audience, enhancing your firm’s reputation.

At the Event: Leveraging Technology for Enhanced Engagement

Event Workspaces

  • Effortless Planning: Event workspaces keep everyone at your firm aligned and organized, making planning a breeze.

  • Centralized Details: All event-related information is accessible in one place to help you stay organized.


On-Site QR Code Check-In

  • Streamlined Event Check-Ins: Swift, secure, and paperless, it’s the modern way to welcome attendees.

  • Tech-Friendly: Embracing technology enhances the event experience, keeping attendees engaged.


RSVP Forms

  • RSVP Tracking: Gain insights into event registrants, anticipate turnout, and tailor your preparations for the perfect gathering.

  • Accurate Preparations: Knowing the expected attendance helps in planning resources effectively.

Creating QR Codes for easy capture of attendance can be done all within Nexl

Post-Event: Post Mortem Analysis Enhanced by Event Segmentation and List Building

Utilizing tools like Nexl Event’s Customer Relationship Management (CRM) functionality enhances the efficiency of post-event follow-up. This includes streamlined and personalized follow-up campaigns through email, offering relevant content tailored to attendees’ interests. Furthermore, post-event calls can be seamlessly integrated into the CRM, contributing to building lasting connections.

Standard Operating Procedure (SOP) for Analyzing Return on Events (ROE) in Law Firms Using Nexl

1. Introduction

Analyzing the return on events (ROE) is crucial for law firms to ensure that their investment in events yields measurable outcomes. This SOP outlines a systematic approach to analyzing ROE for law firms, incorporating a three-dimensional analysis method.

2. Event Analysis Levels

2.1 Level 1 Analysis: Event Scoring System

When initiating the analysis and scoping of an event for ROE, the first level involves using an event scoring system. This traditional approach provides a baseline understanding of the event’s potential impact.

2.2 Level 2 Analysis: Path-Based Analysis

To enhance the analysis, introduce a second level focused on paths. This involves considering the return from the previous year, providing a more comprehensive view of an event’s effectiveness.

3. Three Dimensions of Analysis

For events attended or similar events, conduct a three-dimensional analysis to assess the impact on return:

3.1 Opportunities Created

Utilize Nexl to check the number of deals created and their respective values.

Example: If attending MPF 2023 resulted in three opportunities, evaluate the immediate ROI based on the opportunities created.

3.2 Deals Influenced or Moved

Cross-reference existing pipeline deals with firms interacted with during the event.

Identify how many deals were influenced or moved, especially focusing on the transition from early to late stage.

3.3 Post-Event Follow-Ups

Analyze the number of post-event follow-up meetings within the quarter following the event.

Utilize Nexl to filter and track the meetings held post-event.

Track opportunities with Nexl

Conclusion: Elevating Post-Event Follow-ups

By diligently tracking these event analytics and leveraging Nexl’s Event Management Solution, your law firm can enhance post-event follow-up strategies, nurture valuable connections, and continuously improve the impact of your legal events. The combined power of data-driven insights and cutting-edge technology ensures that follow-up efforts align with attendee preferences, leading to stronger client relationships and increased business opportunities.

FAQ Section for Law Firms

How can I measure the success of post-event follow-ups?

Track metrics such as client conversion rates, CLE credit utilization, and engagement with follow-up communications.

Are there specific tools for tracking legal event analytics?

Yes, explore legal event management platforms and analytics tools designed for law firms, including Nexl’s Event Management Solution.

How can I use post-event survey responses to improve future events?

Analyze survey feedback to identify areas for improvement, understand attendee preferences, and tailor future events accordingly.

Should I prioritize social media engagement metrics for legal events?

Yes, social media metrics provide insights into the broader impact of your events and help gauge community perception.

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