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October 2011 Deadline Looms

 Deadline Looms- Are You Ready?

October 6th 2011.

The date that everything changes for solicitors. It's the date that non solicitor organisations are able to provide legal services - so called "Tesco" Law.

Not all solicitors practices will necessarily suffer from this new competition, but for those that provide services that can be "conveyor belted," such as Personal Injury or Residential Conveyancing, then they should be wary.

A non solicitor organisation wanting to provide these services may be considerably larger than the local High Street firm, with well established brands, such as Tesco, Halifax, RAC, The Co-Op and several others expressing an interest in doing so. These brands will have access to resources the local solicitor won't, such as national marketing campaigns. But that isn't the only threat.

From a commercial perspective, these brands are known for keeping their costs down while providing consumer services. Anticipating what strategy they would adopt for Residential Conveyancing and Personal Injury isn't difficult, they will use the cheapest back office support available, and rather than qualified solicitors carrying out the work, paralegals or legal assistants would.

How can solicitors respond to this threat?

There isn't an 'off the shelf' answer to that question, as every solicitor's practice would require a different approach and strategy, but some general points may be;

  • Start marketing now to emphasise the use of a qualified solicitor. Make use of Law Society marketing material for this, as they are actively promoting the same message.
  • Examine the practices' costs for providing these services, and consider how they could be made cheaper. Note, this applies to the cost, not the price to the client, as the difference between the two is the practice profit.
  • Consider how effective the practice use of the internet is in provision of services via its website. Can the service be streamlined by the client providing basic information through the website?
  • Use social media to promote the practice

There is one thing that firms facing the challenge of this new competition cannot do;

Ignore them.

For information on services provided by CPM21 that can help with this, go to;

https://www.cpm21.co.uk/index.php?page=17

https://www.cpm21.co.uk/index.php?page=19