In the highly competitive field of Personal Injury Law, where law firms spend huge sums of money on advertising, the fight for attention is constantly changing. Television ads may have been the preferred strategy in the past; however, the rise of digital marketing altered the game completely. However, in this era where every click costs the same amount, and airtime is essential, which option gives the highest ROI -- television or online advertising?
We spoke with Justin K of The Justice Now about Personal Injury Marketing; he described how he constantly revised his marketing plans even if they had been very successful!
As with many attorneys, Justin honed in on advertisements on TV, but he has also sought to round out his marketing platform by incorporating online advertisements. What would these two channels appear like when viewed side-by-side?
Competition can be extremely challenging in the crowded Legal market for Personal Injury Attorneys. Law firms shell out several hundred thousand, perhaps millions, each year for advertising costs alone. When television was the primary way to advertise, investing a large sum was necessary to have an impact. Online marketing has transformed the rules, but the PPC that lawyers use can quickly make a dent in your pockets. When you consider the amount that goes to the legal service market, many might think the advertising spend is justifiable. However, not all lawyers or law firms have the funds to invest this amount, and even should they be able to, the question is whether it is worth it.
We analyzed some data for online and TV advertisements to determine how the two networks are compared on a fundamental level!
The Cost Of Being Competitive -- Online Advertising Costs for Lawyers
The cost per click for terms related to lawyers in Google Ads is currently more than $6. This is one of the most expensive phrases in Google and other search engines. That means for each person who searches for “personal injury lawyer” or related terms and visits your site’s results of the search, you’ll spend more than $6. If you had a total of 10,000 clicks, it would have been more than $60,000. Although this amount may seem high at first, compared with the costs of TV ads, it pales compared to other costs.
How Much Do TV Ads Cost?
The total annual expenditure on TV advertising in the US is estimated to be $60.6 billion by 2024. The drop in these numbers could be due to various factors, the most essential likely being the cost prohibitive of advertising on these platforms.
TV advertisements are more expensive than traditional advertising platforms like magazines, radio, and yellow pages. The production cost for a 30-second TV advertisement could range between $5,000 and $50,000. The duration of the airtime may range from $100 to $5,000 for a prime-time spot. This figure is only applicable to local TV stations. National TV networks may charge more. According to certain studies, this could be up to 34,000 dollars for a 30-second broadcast time on national television.
Don’t Overlook The Maintenance Cost
The majority of advertising campaigns are not events that are only once. They are a string of advertisements to raise brand recognition and convert potential customers into customers. This is the case for television and online ads.
Variations in professional fees and services, such as a simple change in the phone number, could be expensive, particularly for television advertisements. This is due to the nature of advertising materials. Making the latest advertising materials could cost anywhere from $63,000 to $8 million because of the size and complexity of the advertisement.
Regarding online advertisements, the cost-per-click will remain more or less identical throughout. The cost may fluctuate. However, this approach only requires a little maintenance.
For advertisements that utilize videos or banners used on Facebook, YouTube, and other sites, a 30-second promo video costs anywhere from $1500 to $5,000. It is important to remember that additional expenses are associated with maintenance and other expenses, like professional charges for voice-overs, graphic design actors (if they have any), and directors.
TV Commercial Cost Depends on Your Audience
Independent organisations show the total number of viewers ranking television networks. They can also determine the number of viewers at any time. Businesses that use television ads to get their message across to customers use this as their base to decide on the best day and time for their advert to air. In the same way, it is the basis used by television networks to determine the price for advertising through their network.
The more people that are thought to watch, the more the cost of an advertisement. However, this is an issue for advertisers because there is no method for TV advertisements to target specific population segments. All of it depends on the assumption that people in these categories, such as age and gender, watch TV at this particular time.
Online Advertising Boosts Your Targeting
Online advertising, on the other hand, gives specific and targeted advertising options. On platforms such as Meta Ads (formerly known as Facebook ads), advertisers can define the criteria for whom (age, gender, gender, location, occupation, etc.) advertisements will be shown.
The excellent news For Mark Zuckerberg: Facebook’s revenue by 2024 is predicted to be 170.82 billion dollars. On platforms such as Meta advertisements, advertisers can decide who (age, gender, gender, geographic job, location, etc.) the ads will show. This applies to all social media platforms, including Instagram, Twitter, and YouTube.
If you have a thorough knowledge of advertising, you’ll discover that an additional benefit of using online ads instead of traditional television ads is analysis and tracking. This feature lets advertisers assess the effectiveness of their advertising campaigns by studying the conversion rate, the number of people visiting their websites by a specific advertisement link, or the number of times viewers saw their ads.
Online Ads Are Outperforming TV
Television advertising is superior to online advertising in specific coverage areas, tracking and analytics, and cost. Yet, TV advertising remains among the best strategies for building brand awareness because it’s still ideal for reaching millions of viewers at any moment.
Furthermore, research shows that nearly 9 percent of U.S. households still lack internet access. In this scenario, television advertisements could be the most effective method of promoting the brand’s visibility among this population.
Lawyers for personal injury and law firms could use online and TV ads to enhance their brand awareness campaigns. For instance, advertising on local TV channels is a good idea in smaller cities. If your goal is to get as many people to watch at any time feasible, TV will surely accomplish the task. It’s completely free of clutter and online competition, so millions of people can watch it. Yet, online advertisements are an absolute win when you wish to target selectively.
The Future of Advertising for Personal Injury Law Firms
When we look to the near future, we see several developments and changes that lawyers handling personal injury cases must pay to. AI and machine learning will keep progressing and provide more advanced automation, predictive analysis, and understanding of the audience. In addition, although voice search requires changes in how we use keywords, this will make local-based search and local SEO methods essential for brick-and-mortar law firms.
The audience itself may make the most significant changes. We’re already witnessing the full spectrum of Gen Z’ers joining the workforce and subsequently becoming clients, which makes it essential that legal firms recognize and adjust to their needs. This could mean engaging ads on TikTok as well as a transparent and honest approach to the use of data or even branding that is socially responsible.
To stay on top, legal firms that specialize in personal injury should implement a continuous learning strategy that keeps them up to date with the most recent techniques of digital marketing, observing shifts in the target audience and being able to adjust as needed. Remember that the future won’t give those who are the most up-to-date or fastest, but rather those who can adapt at the highest level.
Revolts Inc is specialised in marketing law firms in the most advanced way possible. We utilise the up to date marketing strategies integrated with AI revolution to put you head and shoulders above your competition and give edge to your business. Talk to Revolts Inc experts today to get better understanding.
