By Legal Futures MLT Digital [1]
We have been generating new business opportunities for law firms from the Internet for over 14 years and, as you can imagine, we have dealt with the full spectrum of firms; large and small, local and international, niche and multidisciplinary.
With the very odd exception, there is one thing that has remained as a constant barrier to the vast majority of firms maximising their return on marketing spend.
And this one thing is?
- A failure to promptly, and efficiently, qualify new enquiries
In 2023 Conveyancer Insights conducted a study into the call handling performance of 230+ law firms and the results were staggering:
- 45% of enquiries were not handled promptly and routed to the correct department
- 38% failed to answer the enquiry professionally
- 49% of firms failed to answer the enquiry in a factually correct fashion
What does this mean in financial terms?
Our research would show that most firms offering a number of services within a relatively populous location would generate roughly 200 enquiries per month. If we were to extrapolate this across the UK (10000 law firms) one could estimate that of 2 million enquiries per month and an average fee value of £1052.50 that £1.052 bn in revenue is lost per month.
This does not take account of lost admin time, fee earner time and partner time, so in actual fact, the number is even bigger.
We believe that the solution to this problem is a technological one and this is why we have built ReceptIO [2].
Currently we are looking for firms to join our pilot phase for this new technology which:
- Intelligently qualifies leads
- handles all enquiries for both new business and also repetitive enquiries
- delivers multi-channel solutions
- completes anti money laundering checks
- initiates terms of engagement
- schedules appointments
- operates 24/7
- does not suffer from burnout
- can integrate with existing solutions
To find out more please contact stephen@mltdigital.co.uk [3]
About ReceptIO
ReceptIO [2] is a joint venture between MLT Digital [4] and Pay Justice. The software underpinning ReceptIO has been used by some of the UK’s largest law firms to boost conversion rates for some of the largest legal cases in UK history.