Law Firm Revenues Down? Stop Blaming the Competition.

Lawyers are quick to blame the competition when challenged about why their firm’s revenues are not better. Before you keep on with the finger-pointing, you might want to stop and assess how your firm performs in light of some of the findings from the latest Clio Legal Trends Report.

How Consumers Shop for Lawyers

Clio’s latest Legal Trends Report provides great insight into how consumers shop for legal services.

  • When seeking legal help, approximately 4 out of 5 surveyed consumers said they expected a response within 24 hours.
  • Forty-two percent also said that if they liked the first lawyer they spoke to, their search for counsel stopped.

It’s clear that follow-up and human-to-human connection matter to consumers. Knowing this,

Clio wanted to determine how well firms would perform when put to the test.

How Law Firms Meet Consumer Expectations

Clio emailed 1,000 firms posing as a potential client. Sixty percent of those firms failed to respond. Yes, 60%.

It gets better.

Clio also telephoned 500 of the same firms. Only 56% of those calls received an answer. Thirty-nine percent of calls went to voicemail.

Curious to know what else Clio found? Read their 2019 Legal Trends Report.
Get the report here.

You’re More in Control Than You Think

Think about it. For many of you, more than half of your competitors probably won’t respond to a prospect’s email and almost half won’t answer the phone. If you ask me, that’s the kind of competition to love.

Your Lack of Revenue Isn’t Due to External Factors

If you’re an attorney who loves to bellyache about how business could be better, take a look in the mirror. If you’re one of those “outed” by Clio as non-responsive, you’re obviously leaving money on the table through no fault other than your own. If you’re one of those who responded appropriately, count your blessings that so many others don’t. If they did, your business would be worse off.

Our firm is glad we went through the strategic and succession planning process with Roy and have implemented many of his suggestions. Not surprisingly, some, though not all, of Roy’s ideas were things that I, as the firm’s leader, had wan…" Read the rest
– Managing partner, small central NE law firm

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