The Price is Right - Buying into Transparency

The CILEx Regulation Transparency Rules came into force on 14 January 2019. Marketing specialist Rachel Tombs says law firms should use the opportunity to shift the emphasis from "price" to "value", going beyond the minimum requirements to distinguish their firm’s offering on their website and differentiate themselves from the competition.

If you are a CILEx regulated firm providing relevant legal services you now have to publish price, service, complaints procedure and regulatory status on your website. The CILEx Regulation Transparency Rules stipulate that you must include this information from your website homepage. If you don’t comply, you will be missing an opportunity.

Sceptics might be surprised to find out that research shows that prospective clients assume the cost of using a legal professional is 22 percent higher than is the case and that law firms that explained pricing transparently and clearly were chosen 65 percent of the time.

There are actually a number of benefits to providing your pricing information upfront.

  • It gives your prospective clients the confidence to approach your law firm, feeling better informed and knowing they can afford your fees.
  • It may help to avoid misunderstanding and cost-related complaints later in a transaction.
  • It may mean you get fewer calls from those just looking for the cheapest quote regardless of any other factors.

The key is how you present the information. If you produce a static, technical list you are providing a prospective client with nothing to differentiate you from the competition but price alone. However, if you use the opportunity to showcase your expertise and reputation, you are already helping the client to make the buying decision about more than just the cost of your service.

So, what do you need to consider to convert Transparency Rules into an opportunity on your website?

  • Think about how you illustrate price. Is your website attractive and the information well laid out? Would an online estimator be beneficial to your clients?
  • What criteria do your clients use for buying decisions? Speed of delivery, convenience, online access, additional services? Do you clearly outline that your law firm provides this additional value?
  • How do you showcase your expertise? Do you provide jargon-free information about the legal process? Have you reviewed your staff profiles to explain how qualified and experienced they are?
  • Do you include a clear call to action that encourages your website visitors to contact you for a tailored quotation or further information, and enables you to build rapport and trust in person, over the phone or by email?

Anyone buying a product or service instinctively looks to price as part of the decision even though it often isn’t the deciding factor. If they can’t find a price, you’re not part of the equation. You need to shift the emphasis in your prospective client’s mind. Price is what you pay. Value is what you get.

Use your website to illustrate your law firm’s expertise, quality, service and client relationships, as well as price. If these crucial elements are presented well you will win the business and have a head start over your competitors!

This article was written by Rachel Tombs of Orion Legal Marketing, a full-service marketing agency that helps lawyers attract, engage and retain more of their ideal clients.


See more