The Coronavirus wreaked havoc on businesses across America, including PI law firms. Auto traffic plummeted by 90% in some cities and so did car accident cases. Several law firm analysts even contended cases signed during the pandemic would be worth less because of victims’ limited ability to receive medical treatment. But there was a silver lining. Though TV viewing exploded as people were trapped in their houses, Brantley Davis negotiated sharply lower TV ad rates in April and May of 2020. Up to 50% lower. In addition, we were also able to negotiate 2 for 1 bonus spots. And the bonus spots weren’t just airing 12 midnight to 6am. 95% were running 6a-12m. We know because we were checking post logs weekly. And the lower rates and hundreds of bonus spots paid off. Law firm call traffic started to pick up and so did cases. As important, cost per case decreased in some markets during the height of the pandemic.
So, how can PI law firms hold onto lower TV rates as political campaigns kick into 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, 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 bd@jbdadagency.com. 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 about our free competitive market analysis. You may be surprised by the tactics your competitors are employing.