3 Law Firm Statistics you need to know about

Running a small law firm can be a rewarding experience, but it comes with its own unique set of challenges. In addition to being responsible for providing legal services to clients, attorneys hanging their own shingle must also handle the business side of things. This can include everything from marketing and advertising to bookkeeping and hiring staff.

The business aspects of running a small or medium-sized law-firm can be as complicated as representing a client in court. There’s a million questions you can ask yourself on whether or not your ship is running efficiently. Is your close-rate good? How can you get it better? How much profit should you make off of a specific case and or yearly? Should you hire a part-time CMO? The list goes on and on. 

With time, these questions can be answered. But, first you need to really consider why you should answer them. After all, you want your firm to succeed. Focusing on your marketing and the business processes of the firm are becoming more and more important. 

If there’s three things you need to focus on that can help your firm succeed in marketing nowadays, it’s these:

  • Almost 50% of Millenials and Gen Z care heavily about a law firm’s website
  • Less than 50% of Millennials and Gen Z value referrals heavily.
  • 60% of Americans now find their lawyers online.

Start with these three things and your business will be on the right trajectory. They may sound simple, but behind these three stats, there’s a lot of work to be done.

Don’t know where to start? Give our team a call. We can provide you with a complimentary marketing assessment and get you on the right track. 

Is your online presence helping or hurting your firm?

– Almost 50% of Millenials and Gen Z care heavily about a law firm’s website

Marketing and advertising are critical aspects of running a small law firm, but they can be challenging for lawyers who are not trained in these areas. Small law firm owners must find ways to promote their services and build their client base, but they may not know where to start. 

Investing time and money into inefficient marketing campaigns or projects can actually hurt you more than it can help. Why? Well, simply put, there is a shift occurring thanks to the younger-generations. Millennials and Gen-Z clients care more about online presence than ever before. This applies to their choice of lawyers too. Millennials and Zoomers care more about the online presence of an attorney than do their counterparts in Gen-X and Baby Boomers.

What does this mean? It means that if your website is clunky, out-dated, or simply doesn’t function well, then that could actually hurt your chances of landing new clients. Someone looking for an attorney to represent them or guide them is going to be persuaded to go with the firm with the better designed, better functioning, more informative website. 

Should you double-down on your website and social media?

– Less than 50% of Millennials and Gen Z value referrals heavily.

One of the reasons that a well-crafted online presence is more important than in years past is due to the fact that less people are relying on referrals than before.

Back in the day if you needed an attorney you could trust you’d ask around. Maybe you’d ask friends, co-workers, or family members. This would be a great way to verify that you picked someone who could help. Maybe you’re in need of a family law attorney and you remembered that your cousin recently had a similar issue. You’d get the referral and that would be that. However, with the rise of things like Google Business Profile, Yelp, and online reviews, personal referrals don’t have the same power as they once did. 

– Almost 60% of Americans now find lawyers through online-searches

An online presence is not just having a website, it also deals with having the proper social media channels and maybe even some online ads. Having a website is undoubtedly important, as it serves as the digital face of your law firm. It should be professional, informative, and user-friendly. A well-designed website can help establish credibility and trust with potential clients, as well as provide valuable information about the services your firm offers.

However, simply having a website is not enough. In order to reach a wider audience, it’s crucial to have a presence on social media platforms such as Facebook, Twitter, and LinkedIn. These channels can help you engage with clients, showcase your expertise, and increase brand awareness.

Don’t get left behind

As we mentioned above, crafting your law firm’s brand, creating the right online presence, and running your firm efficiently can get overwhelming. It’s easy to get bogged down in details or to get lost not knowing where to start or how to move forward. 

Give us a call. Let us take care of the marketing so you can take care of your clients.