Recent research* has revealed that over half (59%) of consumers will shop around for at least two or more conveyancing quotes, with home movers willing to pay more for convenience. Whilst these figures are interesting, what matters for professionals is how they can be used for their benefit; in other words, how can you ensure that your firm is the most convenient option?
When it comes to choosing a conveyancer, the top two factors consumers consider are price and reputation. They have been found to be equally important.
Just behind the two front running factors, the following were also valued as important where consumers were concerned:
- Quick communication
- Transparency
- Online services
- Good customer service & rapport
- Expertise
- Recommendations
Consumers have identified all of the above as key indicators of quality. Therefore, it’s important to review and consider how your firm could improve these elements of your service delivery.
Of course, it all starts with a strategy. When developing a plan to boost business, make sure you think about:
Lead Generation. A highly effective tool for firms when used right, lead generation can include everything from digital strategy like SEO and email campaigns, to offline marketing such as attending events and printed adverts. Whatever your preferred method of generating interest in your firm, what’s crucial is making sure that you are maximising the available opportunities to engage with your target audience.
Brand experience. Reputation is one of the key quality indicators for consumers, and naturally, the brand is the aspect of your business most likely to be attributed to it. It’s important to remember that a brand is not just a logo – a good website, strong call to actions and clear engagement with consumers all communicate a positive message about your brand and how it reflects your service. Rather than shouting about the fact you are the best at X, ensure that you are meeting the needs of the individual client. This is arguably the best way to ensure you receive a positive review.
Of course, it’s important to remember that where your conversion rate is concerned, responsibility lies with your staff and your online quote tools. It’s easy to think that just because staff are equipped to do a particular job, they’ll be able to do it to the best of their ability, something which becomes even less likely when they’re trying to deal with a growing caseload.
This is reflected in Infotrack’s whitepaper, which revealed that professionals face the following problems when converting leads into clients:
- 1/3 of conveyancers didn’t give an opportunity for a quote
- Less than 20% built a rapport with their client
- 90% didn’t make a follow up call
- Only 1 in 10 ask for work
It’s important for firms to remember that winning work is not just an operational function, and that it does require a level of strategic input.
After all, you are twice as likely to grow more quickly as a business if you invest time in planning for the future and considering your strategy.
By making simple changes like outsourcing or improving the tools your staff have access to, gaps in expertise can be filled, conversion rates can jump and efficiency could become synonymous with the name of your firm.
Staggeringly, Clio’s report found that law firms only have 29% of time left for billable hours for firms, with the rest being spent doing admin and business development. This shows the sheer lack of time that firms are able to dedicate to ongoing higher level strategy, particularly when trying to juggle day to day admin and handling prospective clients.
Outsourcing the sales element of your firm to someone with the appropriate training can free up resources and allow fee earners to concentrate on billable time.
Here at The Move Exchange, we understand the difficulties that firms face when it comes to managing new enquiries, having launched our professional Front of House service last year.
From mere overspill to completely outsourcing your new business, including panel work, The Move Exchange’s experienced team can provide quotes according to your fee scales, make welcome calls, open files on your case management system, and much more.
To discover more about how our front of house service could benefit your firm, contact Jennifer Davies at Jennifer.davies@themoveexchange.co.uk or call 0330 223 2913.
*InfoTrack Whitepaper – Home Moving in the Age of the Consumer
This article was submitted to be published by The Move Exchange as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.
