This research from First4Lawyers at the recent PI Futures conference highlights a significant issue.
Using industry averages and assumptions (see www.findgetgrow.com for details), I calculate that a £10M turnover law firm is losing something in the region of £120,000 per annum in lost fee income if they don't have suitable processes and systems in place.
aw firms are missing out on significant amounts of business because of the way they handle incoming enquiries from potential clients, according to research released at today’s PI Futures conference. Following up contacts was the most striking problem: where firms had to call back a mystery shopper, 23% of them did not do so for more than two days – or at all. By contrast, 35% called back within 15 minutes, what First4Lawyers – the leading marketing collective that commissioned the research – described as “a world-class level of response”.
https://www.legalfutures.co.uk/latest-news/law-firms-losing-work-due-to-follow-up-failures
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