Recent research conducted by the Solicitors Regulation Authority (SRA) found a firm’s reputation (42%) and price (32%) are the two most important factors people consider when choosing a law firm.
Prospective clients are not afraid to shop around and price plays a large role in determining your firm’s value for money. In fact, 71% of consumers spend more than one hour researching options and 66% consider more than one provider before choosing a firm.
So, if you haven’t started displaying your prices yet, you might want to consider doing so. A Web Portal provides you with the option to include a price lists tab, allowing you to display prices for services in your areas of specialisation. Prospective clients can easily access your prices and make an enquiry, all in the one place.
BENEFITS OF USING PRICE LISTS
Cater to your time-poor clients. Prospective clients want to know prices instantly without having to wait to call your office during business hours. Online price lists help streamline the decision making process for potential clients.
Improve client screening
Avoid the headaches associated with difficult clients. Price lists can help minimise fee disputes and ensure the relationship is a good fit before commencing work.
Reduce barriers to purchase
No hidden fees. Potential leads are informed of prices before starting on a matter. Displaying prices can give your firm the competitive edge and ensure you own the price conversation.
Improve trust and transparency
Give clients the transparency they crave. Research shows 73 per cent of consumers are more willing to pay for a service that offers transparency.
You cannot build trust overnight but by being forthcoming about your pricing structure clients may trust and respect your firm more. This is particularly relevant for potential clients in the information gathering stage as they weighing up available options and often using price as a deciding factor.1