By Legal Futures Associate Redbrick Solutions
I think the answer is twofold. Data and clients.
I say twofold – in fact both themes are closely interrelated. Data around conveyancing performance is now emerging in a format that clients can understand and compare which is great news. The Conveyancing Map offers firms the chance to give clients an objective insight into their market presence and their operational efficiency. Instead of platitudes around putting clients first, firms can now demonstrate, using objective data, why they should be instructed. For example, evidence of their Market knowledge (e.g. more cases in the area than anyone else), that they are specialists in a particular area (e.g. greatest percentage of leasehold or new build cases) and their operational efficiency (e.g. post completion performances).
The second is clients’ own data. The bombshell that has landed is the new world of client reviews – and this is where I think change will also be driven. Companies like Trustpilot and Review Solicitors are now using data to give an aggregated voice to consumers that has never been heard before and which is proving immensely powerful in all walks of life including legal services. Hearing how former clients have fared is hugely influential for prospective clients unsure of their next steps.
In fact, the conveyancing market could have been designed specifically to maximise the impact of client reviews. Conveyancing is an intangible service that is poorly understood, infrequently used and opaque at the point of engagement. Set against that, Trustpilot’s own research has shown that 92% of consumers read reviews and 90% trust a site more that includes reviews. The company has 55 million reviews and adds 1 million every month. This, together with objective performance data is the new force that conveyancers will be wise to embrace as clients share their experiences of conveyancing.
Without doubt, as new, objective data becomes available and accessible to clients, this heightened transparency will be gratefully received by prospective clients thirsty for differentiators to help them decide where to place their instructions. Firms who embrace this will immediately take a metaphorical step closer to their clients by demonstrating that they appreciate it’s a difficult decision they’re being asked to make and that they want to help. Firms who don’t, can continue to rely on price.
Redbrick clients using Conveyancing Data Services (CDS) can benefit from Conveyancing Map’s invaluable solution. Learn more about how Conveyancing Map can benefit your firm in our webinar on Thursday 20th April 2023 at 11:30am, register your FREE place here.
Richard Hinton, Director at Pitsford Consulting