The last 10 years have seen a 75% rise in legal costs, which compares to a 20% increase for other fields. It’s estimated that there are one billion dollars worth of unrecognized legal needs in today’s market. Even when legal needs are recognized, it’s common for potential clients to see their problems as prohibitively expensive. As a solo practitioner or law firm, you might be wondering how to tap into that potential billable revenue. As it turns out, your answer could be branded networks.
In this episode of Legal Toolkit, host Jared Correia and Solo Practice University founder Susan Cartier Liebel discuss the benefits of being part of branded networks like Legalzoom, Rocket Lawyer, Avvo, upcounsel, LawGo, Priori Legal, and lawtrades. By leveraging network marketing resources, participating practitioners get the benefit of a large scale advertising campaign without having to make an in kind investment. In addition, some of these organizations are capable of offering low cost malpractice insurance and/or invoicing platforms to help make practice life easier. Whether you decide to join a branded network or not, the prediction is that they are here to stay. Stay tuned to hear advice on selecting a network to be part of as well as Jared’s true feelings about Peyton Manning.