Legal industry in business Essay
Legal industry in business, 494 words essay example
Essay Topic: business, legal
We live in a time where the dynamics of conducting any business despite its nature or size, are changing drastically. The legal industry is no exception to these burgeoning changes. It is competitive, has always been but with the rapid changes the way law is being practiced- it has become even more so. With the emergence of nascent technology, comes a host of challenges that the legal professionals have to identify and meet head on, in order to stay in the business. One of the major problems being faced by solicitors today, is the increasing cost of implementing a robust and effective digital marketing strategy. Whether being conducted in-house or outsourced, there is no escaping the fact that digital marketing despite being crucial to your law firm, can be a burden on your budget if not being handled effectively. The second most common challenge that the law firms with an online presence have to meet is managing the additional costs of Google Adwords in order to keep pace with the increasing number of established law firms in the industry. Another hurdle that the lawyers have to deal with is the mismanagement of leads being generated through claim management companies. It's a common practice in the United Kingdom that CMCs' often put little or in some cases no value to the claims at all but usually charge a percentage of any compensation paid subsequently. The risk of compliance associated with the law firm is another challenge that the solicitors have to overcome in order to stay pertinent and competitive.
What you'll read next are the most effective solutions to the aforementioned problems being faced by solicitors today.
Firstly, in order to have a complete control over your online marketing budget, choose the right infrastructure to boost your firm's online presence. Legit Claims provides you the best online platform for advertising your law firm. Through Legit Claims, you can now spread the word about your services without exceeding your marketing budget. Secondly, Legit Claims acts as an ultimate go-between for the claimants and solicitors. By eliminating the involvement of CMCs' or any other third party, Legit Claims allows the solicitors to self-handle direct referrals without charging any commission. It also gives the solicitors the opportunity to gain complete control over their online profiles by curbing the risk of compliance.
According to a recent study, over three million people are injured in accidents each year - at home, in their cars, at work, or outdoors. Another study found that just 22% of adults who made a claim felt confident about it, while 26% were nervous about the process, 19% felt daunted and intimidated, and 10% worried about what others would think. These stats present a huge opportunity for the lawyers trying to build a long-term relationship with their clients. Legit Claims connects you directly to your clients without taking a cut. So what are you waiting for? Sign up for Legit Claims today and let us help you grow your business.