The legal market is incredible overcrowded, and this means that competition is fiercer than ever. Here’s how law firms are pushing to stay on top of the game.
This can be a bit daunting for some firms, but changes can also bring exciting new challenges, prospects and ideas.
To many people, most firms do pretty much the exact the same thing as any other. For clients the amount one firm quotes compared to another could be the reason they choose them, but now firms are starting to get smarter and are trying to distinguish themselves from competitors.
Here are some ways to stay competitive:
If your employees have a serious amount of experience in a certain area, then make sure you are shouting about this.
Clients are more likely to go for lawyers who are specialised in the area that they require assistance in.
Unfortunately, these days for a firm to be successful they need to know more than just the black-letter law.
Adding value is all about giving extra help to clients. Try to think outside of the box when giving clients a solution to an issue. Whilst the law may give a straightforward answer to a legal issue/question, your legal team should be proactive towards suggesting alternative and creative methods to getting around an issue. Ask yourself, is there some form of loophole or quick way to solve this?
Added value comes from experience and if you want to provide added value, you should let your clients know that your firm knows its clients and business well and can offered tailored advice.
This is a way of firms engaging with clients like a brand would engage with a consumer. More examples of added value could be articles in trade press, speaking at conferences and sending legal updates via email so clients are up to date.
This is great for building relationships, if you can show clients that you care and that you offer something personal that other firms don’t, then you’ll be their top choice.
Branding is a relatively new concept for lawyers but the market is now hugely consumer driven and image is incredibly important.
To develop your own brand you should firstly think about who you’d like to target/who your clients are, then evaluate your unique selling point and use this to position your firm appropriately in the market.
To develop your brand and gain more business you need to be present in the minds of your target audience. Branding covers all areas from your logo to your culture and staff. Branding is one of the most significant ways a firm can work to stand out from competitors.