The Coronavirus has wreaked havoc on businesses across America, including PI law firms. Auto traffic has plummeted by 90% in some cities and so have car accident cases. Several law firm analysts even contend cases signed during the pandemic will be worth less because of victims’ limited ability to receive medical treatment. But there is a silver lining. Though TV viewing exploded as people were trapped in their houses, Davis negotiated sharply lower TV ad rates in April and May. Up to 50% lower. In addition, we’ve also been able to negotiate 2 for 1 bonus spots. And the bonus spots aren’t just airing 12 midnight to 6am. 95% are running 6a-12m. We know because we’re checking post logs weekly. And lower rates and hundreds of bonus spots are paying off. Law firm call traffic is starting to pick up and so are cases. As important, cost per case has decreased in some markets during the pandemic.
So, how can PI law firms hold onto lower TV rates as political campaigns kick into high gear and retailers begin buying up TV inventory again, driving up rates? That’s the big question. Think about it. If your TV costs are 25% lower when things return to normal, your firm’s cost per case would theoretically be 25% lower and profitability would increase exponentially.
The answer to keeping rates low and no charges airing is relatively simple. But it is labor intensive and requires adept negotiating skills. Like to know more? Call Brantley Davis at 202-775-8181 or email [email protected] Brantley works with some of the nation’s leading PI law firms and has been developing successful law firm media strategies for almost thirty years. He’d love to learn more about your firm and help make it more profitable.
P.S. Ask Brantley about our free competitive market analysis. You may be surprised by the tactics your competitors are employing.