We are delighted to share a post from a terrific legal industry blogger – Alicia Norton.
The legal industry has done exceptionally well in response to the challenges brought by the global health crisis. According to a managing partner of a boutique legal search firm, many law firms were able to realize strong gains and profits throughout 2020 and 2021. This is due to the drastic changes that law firms have adopted in order to prioritize employee safety, as well as maintain workforce productivity. This includes allowing work from home arrangements, accommodating remote litigation, and being more proactive in reaching out to leads and clients.
Aside from the aforementioned practices, law firms have also made the most of available services to further their business. If you want your law firm to attain greater success this 2022, here are three important services that you should take advantage of.
If you want your law firm to remain fast and efficient, it may be in your interest to partner with a reliable IT solutions provider. Such services can ensure that all the technological aspects and resources your firm utilizes work smoothly and are protected from malicious software and cyberattacks. In addition, IT services can also boost the productivity of your law firm by setting you up with automation solutions. By using automation, you can free your lawyers and paralegals from menial and repetitive tasks, helping them remain focused on the more important aspects of their job. Such solutions are possible today thanks to algorithms and artificial intelligence programs that can quickly process and understand documents and records.
Leading a law firm is akin to running a business. Without proper accounting and good financial management, starting law firms can easily fail. However, many of those that lead small firms and solo practices make the mistake of doing their firm’s bookkeeping and accounting needs by themselves.
Many law firms today are realizing the benefits of outsourcing high value business functions, and this includes accounting and bookkeeping. Thankfully, outsourced accounting services are now more accessible today, as the accounting workforce is filled with professionals equipped with online degrees which has opened up the field to many more people. Today’s top universities have created online accounting degrees that help students develop a deeper understanding of business concepts such as managerial accounting business statistics, operations management, communication, and law without having to step foot inside a campus. This, in turn, has created a generation of freelance accountants who are more financially accessible for smaller law firms and independent legal practices — unlike accountants who come from huge firms. By outsourcing your law firm’s accounting and bookkeeping needs, you can focus more on the other critical aspects of your firm.
Another crucial service that your law firm should consider is a marketing service. Unfortunately, today, being recommended by traditional avenues may not be enough to gain the clients and revenue to keep your firm going. You have to actively market your law firm’s services in order to propel its growth and reach a target audience.
Partnering with a marketing professional can greatly benefit your law firm in a number of ways. For one, they can help you establish a unique brand image that allows your firm to stand out from the crowd. Furthermore, they can also create a foolproof digital marketing strategy that allows your firm to have greater visibility in the digital sphere. This is because most marketing experts today are equipped with a digital marketing degree that allows them to gain knowledge in key concepts such as search engine marketing (SEM), social media, paid advertising, data analytics, and content strategy.
To help your law firm grow its revenue and achieve more milestones this year, be sure to keep in mind what we’ve discussed above.
Article specially written for managinglawfirmtransition.com
By Alicia Norton