I have a quick bit of information I’d like to share with you –
As you may know, I am the Communications Director for the Elder Law College. In addition to this role, I run a legal marketing firm (Harper Beck), helping attorneys define their brands, create their web presence and generate clients – mostly through digital advertising.
One of the questions I regularly get asked by attorneys considering adding or transitioning to Elder Law, is – what kind of revenue potential is there in Elder Law? So, I thought I’d take a quick screenshot to show you why Elder Law is THE BEST KEPT SECRET IN THE LEGAL SPACE.
The Cost of Advertising in Elder Law vs. Other Areas of Law
Take a look at this:
https://www.screencast.com/t/9HyWCXRk
This is a screenshot I took of Google’s Keyword Planner. Keyword Planner is a tool Google provides to Google Adwords advertisers. If you’re not familiar with Adwords, this is Google’s advertising platform – a pay-per-click advertising system, in which advertisers bid on keywords and then pay a certain $ amount for each click they get. Any of the ads you see at the top or bottom of Google’s results (click here to see what an Adwords ad looks
like – https://www.screencast.com/t/qOektOJAJc5 are advertisers who are bidding on and paying for clicks on their ads.
So, check out this screenshot again –
https://www.screencast.com/t/9HyWCXRk
I asked Google’s Keyword Planner what advertisers are bidding on 3 keywords for comparison’s sake – personal injury attorney, car accident lawyer and lastly, elder law attorney.
The numbers you see highlighted in red are Google’s estimates of what law firms are paying right now, per click. Yes, you read that right. Personal injury law firms are currently paying upwards of $150 per click. To be clear, that is not $150 per lead. That’s not $150 per client. That is $150 per click.
Pricey, right?
It’s like you’re lobbing a bottle of Glenlivet to Google, every time someone clicks on your ad :).
Now take a look at the bid for “elder law attorney”.
https://www.screencast.com/t/3DaiqFWOKHU
$9 per click. Less than 1/15th what personal injuries are paying. Now, check out the competition. It’s listed as “medium”, while personal injury terms are “high”.
This is data direct from Google and is generally indicative of the market at large, both on and offline.
Elder law attorneys are paying less for exposure, paying far less to generate clients and competing with fewer players in the market for those clients.
The Elder Law Market is Growing… Fast
In addition, the market of potential clients for elder law attorneys is growing FAST. As you’ve probably heard us quote before, the senior population is going to grow by leaps and bounds over the next few years. Here’s some data from Census.gov – https://www.census.gov/prod/2014pubs/p25-1140.pdf. No other area of law is seeing the kind of market growth that elder law is.
In business terms, Elder Law is the perfect storm of opportunities. Lots of need, low competition, growing market and high revenue potential.
With all of that said, the Elder Law College offers students the opportunity to quickly, efficiently and effectively on-board elder law to their practice.
Join us on a Thursday, and start serving elder law clients the following Monday.
Our next weekend seminar is –
The 360° Elder Law Practice Builder
Denver, CO – June 14th – 17th
Over the course of a weekend, we give our students, everything they need to transition into elder law and hit the ground running, confidently generating and serving a wide range of new clients with elder law needs.
Renowned Elder Law Attorney, Scott Solkoff, opens the books on his thriving practice and in 3.5 days, downloads a 24-year career of practical knowledge and hard-won wisdom to his students. The seminar covers ALL aspects of Elder Law, from Medicare and Medicaid to Long Term Care Planning and Advance Directives, and everything in between. The program also covers pricing, the business operations-side of adding or transitioning to a new area of practice and marketing/advertising best practices from experts in digital and online marketing. In addition, our students receive ongoing instruction, teleconferences with the Elder Law College team, personal business and marketing coaching (tailored to your practice), access to our active community of elder law lawyers and guidance through every aspect of your move to elder law.
Here’s what you can look forward to:
* 3.5 days of compelling instruction
* CLE credit (our programs typically get close to 20 CLE credits,
dependent on state)
* Access to our online student portal
* Access to ~20 hours of video presentations
* Unlimited access to our 800+ page elder law document library
* One-on-one meetings with legal business coaches to help inform
your business decisions
* One-on-one meetings with legal marketing experts so you’re
generating clients the right way
* Monthly teleconferences with Scott Solkoff and the ELC team
* Access to our busy ELC Listserv where our members get guidance
and support from other elder lawyers
* Ongoing education
* And much more
TO ATTEND ELC BOCA RATON
Reserve your seat for February in Boca Raton here for only $225 – https://elderlawcollege.com/membership-account/membership-checkout/?level=45
Would you like to talk to me first? Schedule a time with me here – https://meetme.so/elder-law-college
I look forward to seeing you in Boca Raton and talking more about how to generate Elder Law clients!
