The 5 Key Shifts Your Law Firm Needs To Make To Embrace Digitization
Many lawyers are finding the digitization of the legal sector intimidating, and as a result they are losing out on opportunities to build and future-proof their firm.
There are already online platforms that sell legal documents with no lawyer involvement. However, at Guidr we keep the lawyer at the center of the online service so that your expertise is on hand and the consumer trusts they will receive high quality documents.
In this blog, we’re going to look at the five key shifts you need to make so that you maximize the new opportunities that digitization offers.
There are five main areas you must explore if you want your law firm to succeed:
- Recognize that consumer needs are changing.
- Expand your mindset.
- Adapt your business model.
- Look at the evidence.
- Use your digital service as a marketing tool.
1. Recognize that consumer needs are changing
Consumers are driving the move towards digital legal services. They want to do things when it suits them and not conform to traditional office hours. If they wake up in the middle of the night (or work shifts), they want to be able to sit on the sofa, get their phone or iPad out, do their research, and purchase what they need without going into a law firm.
If your firm doesn’t offer an online service, they will buy from a firm that does.
2. Expand your mindset
Any new way of working takes time to adapt to, and the digital world requires time and a mindset shift. There was once a time when the future of Uber was in question, but it has grown in popularity because the service tells people the name of the driver, their location, when they will arrive, and how much the fare will cost. If it’s raining outside, you’re not getting soaked waiting for a taxi to turn up. Consumers love that it saves them money, is convenient, and offers a user-friendly experience.
Initially the taxi industry fought for it to be banned in the hope the competition would go away, but the reality is that customer requirements will always win, and it’s likely that customer demand for online legal services will determine the future of your firm.
There is no doubt that digitization will transform the legal industry; if you want to reap the benefits, you need to understand what your consumer wants, and make the most of the new opportunity.
You might also benefit from our earlier blog Ready To Find Out If Your Mindset Supports Or Hinders Your Law Firm?
3. Adapt your business model
For your law firm to succeed, you need to change your practice and business model to accommodate the digital platform (not the other way around). The digital model is designed to support your firm so that you can delegate parts of your business to technology, creating time and space for you to work on the legal intricacies that require bespoke expertise.
4. Look at the evidence
It can be challenging to understand why your firm might want to offer a product online for $995 when you could charge $4,000 for it in person, but the truth is people are already accessing those legal products elsewhere for $695 or $495, and if you’re not offering a digital version of that product, your firm is likely losing business already.
A leading online legal platform has delivered legal documents to five million customers; that’s five million people who have said no to going to a law firm and decided to choose a digital product instead.
If you successfully sell online digital documents for a lesser price than an in-person service, then you have the opportunity to build a relationship with that customer and potentially upsell other services or products they didn’t know were available or suited to them. However, if you have no digital products, those customers will go elsewhere, which means you lose 100% of their business.
5. Use your digital service as a marketing tool
By providing a digital service, you are driving traffic to your website, streamlining your operations, and educating people in the range of services that you offer, all of which creates an opportunity for you to increase efficiencies and expand your services without having to expand your physical space.
While your online consumers might be purchasing at a lower fee initially, as their wealth and financial complexities increase, they may outgrow the online systems and require a custom legal service; they’re then more likely to choose your firm because they have already got to know, like, and trust what you offer.
Digital services are a fantastic way to build and nurture your customer base for the future.
We know that resisting digitization is likely to negatively impact your business, but if you’re willing to explore the five suggestions we’ve made above, you’ll get ahead of your competition and realize that the future is as big as you want to make it!
Are you curious about how a legal platform such as Guidr can support your law firm to attract new clients? Are you wondering how technically minded you need to be to use it? Get in touch with us (Dave or Guy), and check out our book which provides you with an overview of the digitization of legal services (or download a free copy).
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