How Much Money Do Solicitors Leave Behind?

How Much Money Do You Leave Behind?

When you act for a client, how much money do you leave behind which they would happily give to you?

Many clients are incredibly happy with your service. They like what you do for them, they like you as people and they are more than happy with all that you do for them, yet you are letting them down time and time again.

I am talking here about offering a range of services instead of just a basic level service. One of my favourite examples of this is coffee shops. We love our coffee shops in the UK. Costa Coffee, Starbucks etc manage to sell you a 10p cup of coffee for £2 or £3.00. What they do so cleverly though is offer you a choice of three sizes. This makes them so much extra profit it is almost criminal. If you stand in the queue you will hear someone ask for a coffee (a latte, cappuccino or whatever their preference). If they do not specify a size the question comes from the Barista which size they would like. If they only had one size of coffee cup, they could only buy that one small size; but cleverly, because they fully understand the principle of “upselling”, they offer three sizes, and if you stand in that queue and listen to the responses very few people opt for the smallest and cheapest service.

60% of Your Clients would pay you more for a higher level of service!
How many levels of service do you offer?

This question could literally add thousands of pounds to your bottom line for very little extra cost for you to implement the changes. If you are offering a conveyancing service, why not offer a standard service and a gold service? Let me explain why this is so vital. If you persuade a client to instruct you, on average 60% of those clients would be prepared to upgrade to your next level of service, but usually solicitors have no other level to offer them. Change this now, create new levels and be amazed how many of your clients will pay the extra fee and how this will add instantly to your profits.

Examples of how you can add a new level of service

  • Conveyancing. Standard Service £500. Premium Service (includes 10% off with ABC removals, free Home Information Pack, 0.25% deduction in Estate Agency Fees with XYZ (yes that is you now in control of referrals to the estate agent) etc £750. In this example all of the additional benefits of the Premium Service are supplied by other businesses, not you. But by using your power as the provider of the leads you add value for your clients and can charge a premium for doing so! You have now added 50% more to your fee and apart from negotiating the deals with these companies who will all be happy to give them to you if you are referring business, it has cost you nothing except time, and that time is only used once, whereas the additional price can be charged forever.
  • Joint Wills. Standard £175.00. Premium (includes lifetime free storage, three year annual review and rewrite included) £150 set up fee plus £75 per annum. By lowering the initial price you create a client that will pay you every year and you only need to rewrite the will every three years and only then if the client’s circumstances change.

I could provide you with countless more examples, but by now hopefully you see the point. If you only offer one level of service, your clients can only buy that level. Offer two levels, or preferably even three and you can upsell the 60% of your clients who would gladly pay you for a higher level of service.

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Law Firm Marketing

Case Study

“We’re busier and more profitable than ever before, but we’re also having more fun too.”

I came across Nick and Samson Consulting back when I was employed and looking for help to grow my caseload.

Unsurprisingly I found him on Google (he definitely has a knack for that platform!), while looking for a legal marketing expert, and ended up joining his Marketing4Solicitors group, learning from afar for several years.

His advice was smart, sound and – most importantly – it worked.

And that’s why when I came to start my own firm up three years ago, I pretty quickly ended up giving Nick a call and started working with him.

I had used another company to help me with some online marketing before that, and to be honest – it was an absolute disaster, costing huge amounts of money and not really delivering any tangible results.

I hoped that wouldn’t be the case with Nick, and I was right.

I brought him right into the business, getting him involved top to bottom, and I can honestly say that it’s the best thing I’ve ever done.

His guidance quickly starting paying dividends, as he coached and mentored me on how to generate more interest and achieve more client instructions, as well as generally how to structure the firm in a way that was the most profitable and productive.

Three years in, and I’m over the moon with the impact that Nick has had on my business.

We’ve got a clear focus and a direction, we know why we do what we do, and most of importantly at all, we’re more successful.

We’re busier and more profitable than ever before, but we’re also having more fun too.

That’s one of the best things about working with Nick – the fact that the advice and guidance he gives is so holistic.

It’s not just about making money, although he has had a huge impact on that for us, but it’s also about helping me to enjoy my life, and growing my firm in a way that means that I have more money in the bank, but more time to enjoy life with my family too.

I guess that’s what makes him so different to others out there – he really does have my best interests at heart and I trust him implicitly.

It’s hard for me to convey just how good Nick is at what he does – before I started working with him, I thought I was pretty good with PR and marketing, but the truth is that in comparison to Nick, I really don’t know anything.

Nick really is a very, very smart guy, and when it comes to running a profitable legal firm, I think there are very few people who could touch him.

And that’s why I’m glad he’s on my team, and that isn’t just hyperbole – he really is a part of my team: any significant business decision I make is run by him first, because I know he’ll give me useful, tangible and practical advice that’ll result in the best outcome for me and the people I care about.

Before working with Nick, I felt like I was on my own, and the future of the firm was on my shoulders; to be honest it was quite a weight.

But now, I’m relaxed about the future, because I know that I’ve got Nick in my corner, one of the smartest marketing minds I’ve ever come across, and a truly honest good guy to boot.

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