Austin Bar Blog

November is Adoption month and Austin is celebrating the 21st Adoption Day this year with 20 children from Travis county finding their forever homes. Adoption Day will be held at Gardner Betts on 11/10 beginning at 8am where the juvenile center is transformed into a Wizard of Oz themed party celebrating all the new families. Adoption Day activities include a book store, jewelry making, ice cream party, arts & crafts and so much more to truly make this a day to remember for these Travis County families.

The 20th Annual Austin Bar Foundation Gala is set for January 28, 2023. Don’t  miss our presentation of Distinguished Lawyer award winners: Judge Lora Livingston, Bobby Taylor, and Judge Lee Yeakel. Learn about the event and sponsorships now here.

While the term Key Performance Indicators (KPIs) may sound like nothing but jargon, it essentially refers to the business metrics that evaluate a company's performance. Tracking KPIs takes time and effort, but the rewards are worth it when you see a big difference in your revenue and client acquisition processes. Law firm KPIs should be measurable, specific, and targeted to the particular goals of your business to give you relevant data and information.

We believe your firm can use four specific metrics to gauge and build on its success.

Client and Matter Development KPIs
What is your approach to developing a relationship with a client? How efficiently are you resolving their cases? Tracking these client development KPIs will help you gain a deeper understanding of your client base:

•    The average number of cases closed
•    The average fee per client
•    Number of lawyers per client
•    Active clients
•    New client acquisitions
•    Number of matters per client

Marketing KPIs
Marketing your firm will help you to generate leads and capture interest from your target audience. If you're spending money to acquire as many new clients as possible, you'll want to track your effort to ensure that you're not simply throwing cash at a strategy that isn't creating optimal results. Here are some law firm marketing metrics to keep a close eye on:

•    Number of website visitors per month
•    Landing page conversion rates
•    Email marketing performance
•    Cost per customer acquisition
•    Traffic from referrals
•    Lifetime customer value
•    Social media engagement

Financial KPIs
Every law firm strives to maintain healthy finances and profitability. You don't need an accounting degree to strategically assess financial performance to improve your decision-making. Keep these KPIs in mind to ensure your business meets its financial goals:

•    Monthly billed revenue
•    Total firm debt
•    Collection rate
•    Length of accounts receivables
•    The current estimate of operating costs
•    The current estimate of annual revenue
•    Net income as a percentage of revenue
•    Net overhead
•    Which payment methods clients prefer

Lead Analysis KPIs
Acquiring new clients is crucial to your law firm's success, but finding them can be challenging. Check which channels bring the highest number of leads by recording how visitors or prospective clients find your firm.

•    Cost of acquiring a new client
•    Number of new cases/matters opened
•    Number of new clients
•    The number of new clients by source (referral, website, review site, etc.)
•    Estimated average value of each new case
•    Number of consultation appointments set
•    The number of potential new clients who showed up to their consultation appointments
•    Number of potential clients converted into clients

Hopefully, you now have a better understanding of KPIs and why you should be tracking them for your law firm.

However you measure success, LawPay has the tools to help you achieve it.

Special offer for Austin Bar Members: if you sign up for LawPay by November 30, you’ll pay no monthly fee for a whole year. Get started >>

Attorney volunteers will provide brief legal advice in their preferred practice area(s) to veterans in need. Walk-ins are welcome or you may pre-register online.  Sign up starts at 1:30 p.m. and please sign in before 3:30 p.m.

Veterans can also complete an intake application via phone. Call 512.472.0279 x110 to see if you qualify. For more information, please see the click here.

Volunteers may select a specific timeslot or attend the entire duration of the clinic to provide advice. Volunteer here.

Mon, November 14, 2022 | 1:30 PM - 4:00 PM CT

Austin VA Outpatient Clinic | 7901 Metropolis Drive |  Austin, Texas, 78744

In the November issue of Austin Lawyer, get set for Adoption Day, learn how one talented member made history in life and the legal community, see what's being done to help veterans thrive and what grants our program won, get updated on what attorneys can do to "Be Well", know more about pro bono opportunities, and find out what's happening at Austin Bar so you can get involved.  Plus, see all the great initiatives happening with AYLA and more! Read here.

Long-time Austin Bar member Edwin “Walker” Arenson passed away on October 13th. Read his obituary here.

Long-time Austin Bar member Bennie Ray passed away on October 18, 2022. Read his obituary here.

Members: This is to inform you of the revised Local Rules, effective as of October 15, 2022, for Travis County. You may view the revisions here. This and other valuable information can also be found on the Travis County website under the Latest News section.

In honor of Veterans Day, special legal events and clinics are being held across the state. The Texas Veterans Legal Aid Coalition, a project of the Texas Access to Justice Foundation (TAJF), coordinates the annual Texas Veterans Legal Aid Week (TvLAW), a statewide effort in honor of Veterans Day during the week of Nov. 7-11, to highlight the legal services available to veterans. 
 
The Austin Bar Foundation’s Veterans Legal Assistance Program and the Caldwell County Veterans Service Officer will co-host an in-person outreach event for veterans residing in Central Texas.
When:  November 10, 2022 | 1:30pm – 4:00pm
Where: The Caldwell County Justice Center | 1703 S Colorado Street | Lockhart, TX 78644.

To register for the Free Legal Advice Clinic, you will need complete an intake form.
Paper forms will be provided at sign-in on the date of the clinic or you can conveniently pre-register online today!

For more details see the flyer here.

Social Networking is the hot new trend in many aspects of the legal profession but how many attorneys really understand its implications in the litigation process.  How does social networking affect discovery?  How can social networking be used during voir dire, trial and post-verdict?  These and other topics will be addressed which demonstrate rules and best practices each lawyer should know to render social networking research a valuable and powerful tool.

Friday, October 28, 2022 | 12:00 PM - 1:00 PM CT

Register Here | Online

Membership dues statements have been emailed. We ask that you promptly view. We appreciate your membership and are here to help if you have questions. Contact carol@austinbar.org.