According to the U.S. Census Bureau, there are 28 million local businesses in the United States.
Your law firm is one of them.
So how can you make sure your law firm grows into a profitable business? You graduated with a law degree, not one in business administration. And, as you well know, there is a lot you weren’t taught in law school about running a law firm. Fortunately, you’re not alone. More than 40% of small business owners identify themselves as financially illiterate, with 66% wishing they knew more about managing their finances.
But there are lots of steps you can take to increase your business savvy and put your law firm on the road to success. To get started, here are just a few simple tips you can use to begin building a profitable, thriving law practice.
Update Your Law Firm Website
There was a time in the early days of the Internet where a dated website only represented a flaw in your eye for design rather than actual functionality. Those days are gone. In 2017, simply having a website isn’t enough anymore.
A website isn’t like a yellow page ad from 1997; you can’t create one and then never worry about again it (unless, for example, your law firm’s phone number changed). A website is a living, breathing thing that can bring in new business by helping potential clients find your firm.
Did you know that 44% of consumers are looking for local business that prioritize securing their personal information? And 67% rank website improvements as the top change they are interested in seeing over the next year?
So the question isn’t necessarily “What has my website done for me lately?” The question you should be asking is: “What have I done to help my website (so it can help me) lately?”
One way MyCase can help with your law firm marketing and online presence is with our law firm websites package. For a flat $995 set-up fee and low $50/month hosting cost (that includes future updates, hosting, and ongoing maintenance), we’ll handle everything and your law firm website will always be up-to-date! To get a free assessment of your law firm’s current website, schedule a one-on-one demo with a MyCase website specialist.
Ask Your Clients for Reviews (and Post Them to Your Updated Website)
Three-quarters of consumers say that having online reviews either sets the business apart from its competitors (36%) or is expected (40%). What is even more interesting is that 89% of consumers would post a review if they had a positive experience, but only 7% of consumers have been asked to write a review.
When was the last time you asked one of your clients for a review of the legal services you provided? Do you currently have any testimonials or reviews posted to your firm’s website? If not, you could be missing out on a big opportunity to strengthen your client relationships, while also getting valuable marketing materials.
As I’m sure you can attest, a referral from one of your colleagues and fellow attorneys is usually the best type of referral you can get. The same goes for your law firm clients: they have friends and family and if your clients are satisfied with the work you provide, chances are they’ll be more than happy to share that with you and allow you to add the testimonial to the homepage of your website.
Offer Your Law Firm Clients Online Services and Support
More than one quarter of consumers want more local businesses to provide the option of booking appointments, managing billing, and paying online. And you might be surprised to learn that 34% of consumers would like to be able to pay their invoices online. That’s why offering your clients online payment options such as the ability to pay with credit cards or eChecks is not only something you can provide — it’s something you should provide.
There are plenty of online payment processors for lawyers, but don’t be fooled. Many providers have hidden fees or varying rates that are unclear unless you carefully review your monthly invoice. MyCase Payments is different and provides transparent pricing with a flat 3% fee for credit cards and free eCheck processing.
But rest assured, pricing isn’t the only benefit of using a built-in legal payment processor with your law practice management software. Using a built-in payment processor that is tied to your case management software (like MyCase Payments) simplifies your life in a variety of ways, including:
- Invoices and payments are automatically reconciled in MyCase
- Duplicate entries are avoided
- No more transcription errors
- You save (billable) time, allowing you to focus on revenue generating tasks
- There is one solution, one provider, one bill, and one single source of support
- You can send invoice reminders from MyCase to encourage on time payment
- You’re able to stay PCI compliant
Another benefit is that by offering your clients online payment options, you make it easier for them to pay you! Instead of having to come into your office or mail in a check, your clients can visit your website, log in to your firm’s MyCase Client Portal, and pay their invoices with the click of the mouse.
To learn more about MyCase Payments, connect with a MyCase Payments specialist and they can show everything you (and your clients) are missing out on.
For lots more useful business tips and statistics, take a look at (and share) the full infographic “Business Tips for Solo and Small Firm Attorneys” below!