Top 5 Legal Industry Trends to Follow in 2023
11–13 minutes to read
If you don’t pay attention early and often to the trends that are impacting the legal industry and beyond, you could find yourself falling behind fast. Don’t let this happen.
To help you keep up with what’s coming in 2023, we’ve compiled a list of the top legal industry trends to follow and adopt:
- Focusing on Client Experience
- Making the Most of Marketing
- Creating an Award-Winning Culture
- Fighting for the Best Talent
- Plugging Holes in the Intake Process
Remember: Your biggest competitors are not slowing down. If you want to beat them at their own game, you’ve got to be willing to play. Don’t ignore the following trends if you want to succeed.
1. Focusing on Client Experience
Prioritizing client experience is the future for law firms who want to grow and positively impact more people.
Here are just a few of the ways focusing on your client experience in 2023 will help your practice grow into the most evolved version of itself:
- Increased Revenue: The better client experience you provide, the more cases — and thus more money — you will bring in.
- Greater Team Morale: The happier your clients are with the experience you provide, the happier your team will be to serve them, and the more committed they will be to your law firm’s vision.
- More Premium Offerings: The brands that are known for being the best and delivering the best service are the ones who are able to charge more for their services — and people will be glad to pay a premium for that premium experience.
- Lower Cost of Acquisition: The better your brand’s reputation is, the less you’ll have to spend to acquire new clients. If your target audience has already made up their mind that you’re the firm they want representing them, your marketing won’t have to work as hard to convince them.
- Brand Credibility: Companies that are known for providing excellent client experience are viewed as more trustworthy in the eyes of their target audience. Why do most people think Delta is more credible than Spirit, the Ritz-Carlton is more credible than Super 8 Motel>, and Chick-fil-A is more credible than Popeyes? Replicate their success in your law firm by prioritizing client experience.
- Referrals: Consumers love to recommend brands and organizations that create an unforgettable client experience for them. Become that kind of organization, and you will generate more direct referrals over time.
- Higher Margins: If you’re ready to get the most out of your law firm, it starts with prioritizing excellent client experience. Once you do, everything will fall into place, and the revenue coming in will greatly exceed the investments you make in growing your business.
In short: providing an incredible experience (beyond just getting great results) is your key to growth.
One of the most rewarding ways to grow your law firm is for your clients to promote your business without you having to ask them to — and that only happens if and when they have a flawless experience working with you.
It’s not enough anymore to have an audience, or even a community. A cult following is the only way to accelerate your law firm to something you’ve never thought possible. Check out Crisp Founder & CEO Michael Mogill’s exclusive presentation all about building the ultimate cult following for your law firm.
Takeaway for 2023: Go beyond just getting great results for the cases you take on. Give the people you help a world-class, memorable, loyalty-inducing experience to stand out from your competition and catapult your law firm to new heights.
2. Making the Most of Marketing
Marketing is the engine that generates new business for your law firm — and to succeed in the legal industry today, you must maximize your exposure to your target audience.
Marketing is how people know who you are, what you do, and why they should choose to work with you over the thousands of other options on the market.
If that’s the case, then why are so many leaders afraid to invest the resources needed to spread the word about their businesses?
Here’s the bottom line: If you aren’t investing enough into marketing your law firm, then you’re stagnating your own growth.
If you strongly believe in what you’re doing — if you’re doing something that’s providing value to the world by helping people and you want to be able to reach more — then maximizing your marketing and advertising efforts is a service to those who need you.
They can’t hire you if they don’t know that you exist. You can’t help them if you don’t get their attention and get them to take action.
Trends also indicate that the volume and frequency of marketing must be significantly increased to generate results. The average person sees anywhere from 6,000 to 10,000 advertisements every single day. Those aren’t just coming from law firms, either — they’re coming from companies like Apple, Amazon, Nike, McDonald’s, Target, and so many others — plus hundreds of other firms.
When you don’t send that email, when you don’t make that communication, when you don’t run that ad, it doesn’t mean that the rest of the world or your competition holds back on that day as well. They don’t. You’re just absent from the conversation. It takes what it takes to reach your target audience and beyond. One email, one letter, or one phone call isn’t going to cut it anymore.
Takeaway for 2023: No one’s going to be your advocate but you. No one’s going to push your law firm’s message the way you will. You can say it’s unreasonable. You can believe that you shouldn’t have to do that to succeed. But there’s a difference between what we believe should be true — and what realities are. Marketing will make your dreams a reality. Invest in it this year.
3. Creating an Award-Winning Culture
Culture is the character and personality of your organization. It’s what makes your business unique and is the sum of its values, traditions, beliefs, interactions, behaviors, and attitudes. That might be the dictionary definition, but we prefer Michael Mogill’s definition: “Culture is how sh*t gets done.”
Going forward, developing a unique and results-oriented culture in your law firm will give you a competitive advantage.
To prove the point, check out some of these fascinating statistics surrounding culture in the workplace:
- 15% of job seekers declined a job due to the company’s culture.
- Company culture is an important factor for46% of job seekers.
- 94% of entrepreneurs and 88% of job seekers say that healthy work culture is vital for success.
- 86% of job seekers avoid companies with a bad reputation.
- 82% of surveyed people feel that culture is a competitive advantage.
- Culture attracts high-caliber employees and leads to a 33% revenue increase.
As you can see, without an intentional culture in your law firm, you’re likely missing out on great team players.
Take Crisp’s core values for example. Not only do we have them painted on the walls of our building, but we make sure each and every team member abides by them day in and day out:
- Results Driven, Not Effort Driven – Keep your focus on achieving metrics and objectives; stay committed to the end; never lose sight of the goal.
- Vested in Client Success – Go the extra mile; find a solution no matter what; ensure clients’ best interests are in mind.
- Better Than Yesterday – Hold yourself to the same expectations you hold teammates; learn from your mistakes and make progress; create better standards for yourself and your teammates.
- Solution Focused – Make impactful and effective changes; speak up when something is not working; keep your mindset focused on finding the right solution rather than only bringing problems.
- Take Ownership – Step up and step in rather than waiting for others to take action first; be accountable for the results of your actions; take the initiative to bring positive results and learn from moments of failure.
- Team First – Jump in when you see your teammate in need of help; be proactive in finding ways to add value; focus on our five-year vision that we can all be constantly working together toward achieving $1 billion in impact.
- Consistency – Repeat your behaviors until your habits become second nature; be consistent with your work, habits, mindset, and grind; be a game changer every single day.
Hiring, firing, and making decisions based on these core values have propelled our organization onto the Inc. 5000 List of Fastest-Growing Private Companies in the U.S. six years in a row, the Top 100 Fastest-Growing Private Companies in Atlanta seven years in a row, Top Workplace in Atlanta, and more.
Consider the following questions when deciding on your own core values for your law firm:
- Think back to some of your favorite jobs and/or bosses. What made them so memorable?
- When it comes to collaborating with others, what matters most to you? Is it time management, finding solutions, or respectful discourse?
- Do you prefer asking for permission first and planning astutely or diving in first and asking for forgiveness later?
- What kind of people do you choose to surround yourself with?
- What do you consider a non-negotiable for anyone working with you? Are you okay with flexible hours, but missing deadlines are unacceptable? Do you have firm expectations about everyone being in the office to collaborate during certain times?
- When someone leaves a position at your law firm, what is the most common reason for their departure?
- Would you enthusiastically re-hire every single member of your existing team? Why or why not? What is it about the “weak links” that dampers your enthusiasm?
- What would “great” look like for each member of your team? Think about your favorite team members. What do they all have in common?
- What makes your law firm different from your competitors’? Why do people apply to yours over others?
Takeaway for 2023: Culture is your competitive advantage. This is your year to build your dream team, instill core values, and ensure everyone is aligned and working together toward a common goal. Look deep within yourself to clarify what matters to you and how you can shape your organization around it.
4. Fighting for the Best Talent
The latest legal industry trends will require you to not only find the best talent, but also retain said talent — and trust us, this year is going to be just as fierce as the past few have been.
Welcome to the age of the Great Attrition. In the past few years, a record number of employees have quit or planned to quit their jobs, and that number continues to increase. In the U.S. alone, voluntary attrition increased by almost 800,000 in the past year, while involuntary attrition decreased by almost 400,000 during the same period according to the Bureau of Labor Statistics. According to a recent McKinsey survey, nearly a quarter of employers believe they are holding on to more low-performing talent now compared to a year ago.
How can you attract the right people to your law firm? And more importantly, how do you keep them?
People want to work for organizations that value them. They want to know that they will be rewarded for working hard and committing to your vision. If you can promise them that, you automatically have a much better chance at attracting and retaining top candidates.
One way to become a competitive employer in your marketplace is to clearly communicate how unique your firm is. Prove to potential hires and existing team members why working at your firm is the best decision for them.
Consider the following questions when deciding why your firm stands out from all the rest:
- What is the personality of your law firm’s brand, both externally in your marketing and internally for the people who work there?
- What are the perks and benefits your law firm’s team members can expect to enjoy?
- Are the compensation and benefits packages up to par?
- How will each role contribute to your long-term vision or big-picture mission?
- Why should potential team members want to work for your law firm over any others?
Don’t forget that top team members want to know that their ceiling is high. The most talented team members don’t stop once they’ve gone above and beyond — they want to keep climbing the ladder and growing as individuals. Build growth opportunities into your law firm’s infrastructure, and help your team members evolve with your organization over time.
Takeaway for 2023: Your law firm is only as great as the sum of its parts. Once you attract and bring on high-performing team members, make sure you are doing everything you can to retain them for the long run.
5. Plugging Holes in the Intake Process
Intake is going to be essential this year — both your team and your systems.
Intake encompasses the way a law firm gathers information about a potential client to assess their potential case, determine whether the firm is a good fit for them, and convince them to hire the firm to represent them.
Intake is perhaps the most crucial step when it comes to bringing on new clients. Without an effective intake process, you won’t sign any new clients — which begs the question, what happens when you miss a call from a potential client?
We’ve got a solution.
Introducing CaptureNow, the legal industry’s first and only automated, interactive response solution that ensures every call to your law firm is immediately answered 24/7/365.
When someone needs a lawyer’s help, they usually need it as soon as possible — and they need it at all hours of the day, including nights and weekends.
If your potential clients are stuck waiting to be answered, forced to leave a message, or greeted by unprofessional and inconsistent call centers when they’re at their most vulnerable, their first impression of your office is starting off on a negative note.
Based on a study of 1,000 of the fastest-growing small and mid-sized law firms across the country, the missed call percentage without CaptureNow was 14 percent, and the average wait time until the call was answered was 56 seconds.
With CaptureNow, 100 percent of calls will be answered, and the wait time for incoming callers will be zero seconds.
You made a commitment to help those in need, and if you aren’t answering the phone when they call, you’re doing a disservice to yourself and them.
Takeaway for 2023: Do not let your intake processes get outdated. Your law firm cannot exist without effective intake, and all trends are pointing to 24/7/365 availability. Let 2023 be the year you bring on CaptureNow as your newest team member, and don’t ever miss out on a life-changing case again. You’ve got this!
2023 is your year to finally take what’s yours. This is the year that you won’t stand in anyone’s shadow. This is your year to shine and show your competitors what you’re made of.
If you’re ready to take on the challenges and reap the rewards that most certainly lie ahead of you, then join Crisp Coach to ensure that this is your most prosperous and fruitful year yet.
We’ll help you get ahead, stay ahead, and never look back at the old way of running your law firm.
Are you ready for this year?