Wow-sers ... this research from Moneypenny makes for uncomfortable reading when you do the maths:

  • A £10M t/o law firms gets about 200 opportunities (leads) per month (Find Get Grow research in 2018); if we assume 25% are calls ... that's 50 calls ... 15% 'missed' = 7.5, doubling to 15 calls in the summer ... that's 15 missed opportunities for NEW CLIENTS.
  • Then there are the existing clients calling ... what's the cost here?  The Moneypenny research says only 1 in 10 of the calls to a law firm is a brand new enquiry ... which means (if my maths is correct) - c. 75 calls from existing clients per month (using my example £10M t/o firm) are MISSED (not including the doubling in the summer).  

I know how I would feel if I was a client or a potential client calling that firm ... I'd be going elsewhere.

It's one of the topics we will be covering at the LegalCX conferences this Autumn ... we'll be helping to highlight the solutions and things that law firms can do.