The legal market is incredibly 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. For instance, some firms are now outsourcing specific needs of their business such as law firm bookkeeping and finance, so as to reduce the administrative burden on their staff. This will allow the employees to put their entire focus on the core business. This certainly is a cost-effective way to be on top of the business, while also not compromising the quality of work.
To many people, most firms do pretty much the exact 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. Many firms are using the help of AI tools to stay ahead in their Business Matters. Artificial Intelligence could help reduce most of their repetitive tasks and instead spend more time working on complex problems, interacting with clients, etc.
Having said that, here are some ways to stay competitive:
Showcasing experience
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.
Added value
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.
As an illustration, Ritchie Law Firm’s personal injury lawyers or the likes can share insights on recent developments in personal injury law by giving seminars or presentations. This approach would showcase the lawyer’s expertise in the specific niche by keeping the clients informed, eventually building trust and reputability in the law firm.
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. Collaborating with a Law Firm Marketing Agency can further improve these efforts by having strategic guidance on how to effectively communicate these added values to your clients. These agencies can help you create compelling content, and leverage digital platforms to reach a wider audience. By doing so, you are not only building a stronger relationship with your existing clients but also attract new clients who require your services.
Branding
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.
