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Consumer insight
According to the LSB there is an access gap in the legal sector worth several billion a year – and the Federation of Small Businesses estimate it’s £100bn a year. Every adult in the UK has a legal issue once every three years but only 20 per cent use a lawyer. Similarly 40 per cent of SME’s have a legal issue every year but only 11 per cent will consult a solicitor. That’s a lot of legal advice to be sold if you can get your brand in front of those people. In addition to tapping into a new market, there are other benefits to being part of a legal aggregator – insight into what consumers want. Over time legal aggregators will collect insight about the things that are important to consumers, what impacts on their buying decisions, and share that insight to enable law firms to make smart decisions that enhance or align their proposition with changing customer needs. Not to mention it is a measurable. It allows firms to accurately work out their cost of acquisition and outsources the need for a law firm to invest in its own digital presence. Partnering with a digital specialist that understands the customer journey, user experience and knows how to get visitors to its website through specialist marketing leaves lawyers to do what they are good at – giving great advice and helping clients when they need expert guidance. Perhaps it’s the beginnings of a mutually beneficial partnership?
Matthew Briggs is Chief Executive Officer of The Law Superstore, the first legal services aggregator website. For more information lawyers should call www.thelawsuperstore.co.uk