- Your business is dubbed as the Local Magnet Legal Advertising Network. Explain exactly what the business it and who are your businesses prospective customers?
Our business is lead generation. We help local businesses find clients for their business. Instead of giving our customers a web form lead, we actually drive phone calls to their business using Call Performance Marketing. (CPM) is a system for generating, qualifying, tracking, and converting consumer interest into real-time conversations with law practice staff. Successful practices have found that, compared to pay-per-click and web-form-response strategies, only CPM delivers the winning formula of exclusive opportunities to interact in real time with qualified, motivated prospects. Additionally, given the way consumers research, validate, and select providers, using CPM puts firms in the best possible position to convert marketing spending into new clients. Lastly, CPM conforms to ABA Model Rule 7.2 on attorney advertising acceptable practices.
Because of these reasons, our main customers are lawyers. Lawyers have a high turnover rate hence they are always looking for new customers.
- How did Local Magnet get started and who are the principals behind this business enterprise?
Local Magnet was started in 2011 and the principals are Steven Clark and Ron Lasorsa. Ron Lasorsa is a graduate of the Naval Academy and was an Officer in the Marine Corps. During his time of service, he led combat missions into Kuwait in support of Operation Desert Storm and worked as a military adviser to the Saudi Arabian government. Additionally, he received his MBA from Boston University while on active duty, and upon release from active duty, joined JP Morgan as an equity trader. Ron then went on to manage several multimillion dollar trading desks at firms like JP Morgan, ABN Amro and UBS that covered both corporate finance and hedge fund clients. After leaving Wall Street, Mr. Lasorsa co-founded Local Magnet.
Steven Clark is co founder of Local Magnet. Prior to starting Local Magnet, he spent twelve years at Merrill Lynch/Bank of America in their emerging markets divisions. At Merrill Lynch, he traded emerging markets debt. He also spent several years on the fixed income sales desk advising Latin American financial institutions. Before joining Merrill Lynch, Mr. Clark worked for Cargill as a grain trader. Mr. Clark has a Masters in Business from The University of Sydney and an Bachelors in Accounting from Boston University. Prior to his career in finance, Mr. Clark served as an Infantry Officer in the US Marines and he led combat missions in support of Operation Desert Storm. He worked as a military adviser to the Saudi Arabian government and left the service with the rank of Captain.
- On the home page is states, “When you work with Local Magnet Legal Advertising you get an exclusive marketing arrangement where your services are offered to pre-qualified local internet consumers.” Share in more detail your offer?
With Call Performance Marketing we can geo target areas so that local businesses only get calls from people who live in their area and want to use their services. The problem with searching the web for say “dental services” is that the top search results might be from a dentist in Miami but that information is useless if the person searching is from Atlanta . In addition our service allows us to ask certain questions once a call is initiated to ensure the person calling is qualified for the offer.
- What will your clients gain through working with you in this arena?
There comes a moment for all pay-per-click advertisers when they realize they have absolutely no way to determine the effectiveness of their PPC marketing spend. Did the prospect land on their site from paid search, or organic search? Did the phone call originate with internet marketing, or with off-line strategies? How many of the clicks that your PPC provider sent actually converted into a qualified inquiry?
CPM only bills clients for the actual qualified telephone inquiries it unquestionably generated. By using unique telephone numbers for each component of the overall marketing scheme, and screening calls with Interactive Voice Recognition (IVR), legal practices utilizing Call Performance Marketing are able to see exactly which marketing components produce qualified leads. Call Performance Marketing gives these practices an edge over other firms, allowing them to drop unproductive marketing avenues and expand successful ones.
- Look forward one year and share with my readers what you see as the future for the economy and your business niche.
I see this as the next wave in marketing, businesses will know now exactly how their ad budget is being spent. It is a much better business model to pay for pre-qualified leads that get delivered to your doorstep.
- What makes your firm the firm of choice?
Although Local Magnet was founded only in 2011 we have been in this space since 2007. We have been doing lead generation for over 5 years so we have a good core expertise in doing this- but the fact remains we are only a handful of firms that are offering this service and we believe our software platform is the best in class.
- A number of my readers are in the media, so as we conclude this interview – what two things would you want them to know about the uniqueness of your organization or product/service?
Call Performance Marketing clearly outperforms both pay-per-click and web-form-response strategies. CPM delivers exclusive and immediate engagement with qualified prospects, as well as ROI transparency. Firms utilizing CPM are much more likely to consistently outperform those firms which choose Pay Per Click (PPC) and Web Form Leads (WFR). Both PPC and WFR hinder engagement, while neither providing immediacy nor prospect qualification. WFR’s lack of exclusivity, in combination with these other factors make it completely unappealing to savvy firms. PPCs inability to demonstrate ROI make it unwelcome in any data-driven marketing program.
To find out more visit http://localmagnet.info/