Marketing in simple terms, refers to the process by which a company’s product or services are communicated to the ‘market’; the consumer or buyer. The business sense of the term, “process of moving goods from producer to consumer with emphasis on advertising and sales” was attested by 1897.
A conveyancing law firm is a business like any other and any business needs continual input in terms of its generation efforts, even McDonald’s! Moreover, the market for conveyancing practice is set only to expand. The traditional method of business generation (referrals) however, is very much in jeopardy: ‘Marketing’ is essential.
As is seemingly confirmed to us by different sources on a daily basis, these are trying times. It is a broadly flat market, Britain is slipping back into recession; asking prices have been rising continually since March; house sales are 40% lower than they were five years ago; the Diamond Jubilee and Olympics have distorted indicator gauges for the state of the market; conveyancing departments are closing down; the already cumbersome burden of lengthy repetitive forms is set to increase as lenders delay in adopting the comprehensive data collection process and on top of everything supermarkets competing with their “no move, no fee” legal services!
However, it is not quite as ‘stormy’ as we hear continuously reported (not on the economic front anyway). In spite of the situation, activity in the property market is still increasing:
Unsurprisingly, there has been a massive shift in the law industry with regards to business growth as a result. This is where LM Group come in, and precisely why they exist. LM Group is the only company in the UK who reward their searches partners with new conveyancing clients. They want to see less closure in conveyancing departments, more firms becoming CQS accredited and modernisation of the law landscape in general.
Consequently, they are offering firms the opportunity to generate new clients and business at no cost for a period enough to demonstrate that, were they to create a budget for marketing, they would see a tangible return on their investment.
In the current climate consumers are moving through the online infrastructure, they are budget conscious and distrustful and they respond to simplicity and the well-known; hence why supermarkets are selling legal advice. LM Group understand the market, know where to find consumers and how to target them.
We will bring you up to date marketing technique advice based on the current conveyancing climate. This blog will be your source of information and guidance. So stay tuned.
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