Law firms have seen several changes in the legal industry, with changes in business development being one of the most significant. Market developments greatly influence this change. This shows that potential law firms can now select and connect with a lawyer or the law firm of their choice through any vast online network or platform that offers a wide range of qualified lawyers or legal experts.
These online platforms are a new generation of websites that facilitate communication between legal firms and potential clients. Given the growing popularity and demand for these trending listing platforms, law firms are revamping their business development strategies to keep up with the game.
What do prospects expect?
They are not looking for a master, but professional legal help specialized in their needs.
Improving the online aspects of a law firm is as essential for business development as improving offline operations.
Competitive pricing and additional customer services are not enough; law firms need a strong plan that covers overall business development strategies. Law firms that can adapt their business development strategies to these market trends and conditions are more likely to achieve unprecedented growth in the coming years.
Why should law firms have a business development plan in place?
As a law firm owner, your business development plan will help lay the foundation for the sustainable growth and expansion of your law firm. It serves as a framework for starting things in a systematic way. For example, you could focus on the execution of the strategy and evaluate the growth of the company in the previous months to be able to take the necessary measures in time.
An effective business development plan requires your time, the opinion of your lawyers and other employees, and extensive information about the activities of your law firm over a certain period. But since it may not be as easy as it sounds, here are the best business development strategies for law firms to succeed.
Top Business Development Strategies for Law Firms to Succeed
1. Go live with a well-designed website
In today’s world, where digital adoption is increasing in various industries and sectors, it becomes necessary to have a well-designed website for your legal business. Since it primarily acts as the first point of contact, it makes a huge difference in how a potential customer learns about your business. A disorganized, poorly designed website would not attract the attention of many people.
According to Google Research, within milliseconds of landing on your website, customers decide whether or not they want to see more pages. Make sure you use high-quality images and videos as studies have shown that about 60% of consumers would pay more attention to pictures than words.
2. Establish strong relationships with clients
The old saying goes that the best way to get new customers is to make sure your current customers are well-versed with the best services. According to the 2020 Legal Trends Report, a person looking for a lawyer is more likely to rely on recommendations from friends or loved ones before looking online for reviews, social media insights, etc.
To get the most customer referrals from your existing networks, you must create and implement a customer-centric strategy to build and maintain strong customer relationships. Your goal should be an exceptional customer experience.
3. Maintain operational efficiency
To maintain high efficiency, you should consider monitoring the work of your staff and how many working hours are spent in which areas. For example, you may be surprised to find that your lawyers spend more time on administrative tasks and less time on litigation tasks or vice versa.
Define clear guidelines for the responsibilities of employees in different fields of activity. A well-synchronized team, fully aware of its role, ensures the efficiency of your legal business.
4. Plan for hiring new staff
As your legal business grows, you need to hire more lawyers to meet the needs of your clients. However, you may find that choosing the right time was difficult because you could not decide on the best time to hire. To help you make better decisions, here are some signs that you may need to hire new people.
- Your law firm is too busy to accept new clients
- The quality of service is constantly deteriorating
- Your employees are working overtime due to workload and burnout
- You cannot focus on business development
If you deal with any of the situations described above, there is a high probability that you need to hire employees; define in advance the requirements of your company and plan to hire new employees.
5. Find where outsourcing can help
There are many cases where it is not necessary to hire a full-time employee. You can simply use legal outsourcing services to get support for some of the most labor-intensive and time-consuming activities that quickly consume your firm’s resources. In this way, your outsourcing partner acts as an extension of your team, reducing their workload and improving your law firm’s capabilities.
By outsourcing part or all of the process, you allow your employees to focus on other core business areas that require more attention and can have a positive impact on the overall development of the company.
6. Focus on branding & marketing
It is very important to brand and market your legal practice. For this, it is important to ensure that the branding elements are consistent. The possibilities to improve your brand are endless, from becoming a sustainable paperless law firm to being featured in your local newspaper or magazine.
You can also invest in digital or traditional marketing according to your needs and the demographic structure of your target audience.
7. Ask clients to submit their valuable reviews
Positive reviews on business listings and review sites not only help improve your online brand but also have a direct impact on your business.
Even if a customer does not want to mention their name in a review, they can write as an anonymous user in some business reviews. You can also offer incentives to your attorneys for positive online reviews from satisfied clients.
8. Add new services to your portfolio
This is a difficult but very effective strategy that you can use to grow your business; however, this cannot be done overnight. For example, you may not have sufficient resources to start a new legal service offering and this requires planning and investment.
You can start by identifying gaps, such as a lack of resources or skills to enter new markets; you will learn whether you have the appropriate and industry-standard technology tools to efficiently and skillfully deliver new services. Adding new services and new customers means your business development strategies are working well.
If you haven’t been working on business development strategies for your law firm, you’ll likely be busy managing your core duties and responsibilities, leaving less time for marketing and business development. If so, you will receive full support in the back-office functions of your law firm from experienced experts in legal support work at OBS. Contact us for more details.