A recent report by Clio assessing the impacts of the coronavirus on the legal industry and consumers found that the virus has created a 40 percent drop in the number of new legal matters opened per week. Almost half of the polled consumers said that if they had a legal issue, they would delay seeking legal help until after the virus subsided. Further, 22 percent of consumers indicated they were under the impression that attorneys stopped working altogether because of COVID-19.
From our friends at NW Sidebar.
This post focuses on how COVID-19 is likely to affect small to mid-size law firms. I encourage you to read the full post. Here are some key points of interest:
- Numbers and analytics that indicate business will rebound.
- You should prepare your firm to transition to an even more client-centric model.
- Develop technology platforms to avoid in-person client consultations.
- Deliver documents electronically if you aren’t doing so already.
- Be flexible with fees. More potential clients may want flat fees (or at least a hybrid arrangement).
- Be open to limited scope representation, aka unbundling.
- Update your marketing. Specifically your website, blog, social media accounts, and whitepapers as suggested in the post. Get the word out that you are open for business and include a COVID-19 statement.
- Read the June issue of the Oregon State Bar Bulletin. Implement the marketing tips offered by Sharon Nelson, John Simek, and Kimberly Haught and take the advice about how to navigate the pandemic.
Life is different and also the same. Clients expect you to cater to their needs. Put yourself in their shoes and you will do well.
All Rights Reserved 2020 Beverly Michaelis