The term ‘referral fee’ is enough to make any business professional sit up and take notice. Having spent several months taking our roadshows around the country to introduce law firms to our unique platform, I’ve found that the question of pricing is almost always the first on people’s lips – understandably so.
While referral fees are not an alien concept to the profession and have had a rather chequered history in recent years, our own fees have been closely scrutinised and queried. It felt only right then that I should tackle this point in today’s blog post.
Perhaps the most surprising detail to come out of our roadshows is how few legal service providers have an accurate handle on their own cost of acquisition. Indeed, the bigger the firm the more challenging it is to drill down into each marketing and business development channel to get a clear picture of which tactic generates a return and which does not.
What is particularly evident is that tracking those intangibles such as business lunches with potential clients or the cost of attendance at a networking event are not taken into account. This is perhaps surprising when we consider that the outlay on hosting events can far exceed the cost of a simple referral fee.
But what do I get for my money with The Law Superstore?
In short: a pre-qualified case. No other business generation tool brings a case to a firm in the same way as The Law Superstore. From networking to direct marketing, social media to Pay-Per-Click, all can be considered speculative lead generation activities when compared to our platform.
When a site visitor comes to The Law Superstore they are asked a number of carefully selected questions to hone their enquiry and direct them towards the right service. From here they are presented with a comparison table of Partners from which they can filter results based on criteria as wide ranging as location, parking facilities, price and customer ratings.
For the site user, this represents a freedom and flexibility to choose the service provider best equipped to deal with their legal issue. For the Partner, this means that they will only ever receive cases from clients that have specifically chosen them and are ready to proceed.
Our Partners will never receive lukewarm leads; have to compete for business against other firms beyond this stage; or have to pay for clicks or ad space that may come to nothing.
We offer quality cases NOT a quantity of vague leads.
But what if a case is received that requires no legal assistance?
We have taken every possible step to ensure that a legal service provider is never incentivised to take on a case when their professional judgment dictates that legal assistance is not required. As a result, we have laid out a very clear refund policy, enabling Partners to be reimbursed where a series of criteria are met.
FREE cases for three months
Want to trial The Law Superstore before you make a decision on whether it’s right for your business? Sign up, complete your profile and enable your service pricing by June 7th and all referral fees are waived for three months from launch.
Sign up today at www.thelawsuperstore.co.uk/partners