How to differentiate your business beyond price

8 Mar 2013

It’s a common question: how do we distinguish our services from those offered by other firms?

The legal landscape is shifting and firms are now having to compete in areas where they have traditionally had little or no experience in order to win and retain business.

Differentiation through niche market offerings

The changing market is beginning to make it impossible for firms to be ‘all things to all people’, which is why boutique firms are flourishing in the new landscape.

A clear business development strategy

A clear survival strategy is needed. If you are looking to grow then you may need to look beyond the UK market. Consider areas such as Western Europe but ensure you understand fully the implications of this high risk strategy.

Innovate

Use technology to bring greater transparency to processes and reduce business costs. In six years’ time the landscape of legal services will be very different with many adopting business models that are highly automated and largely technology driven – get ahead now.

Manage cost but don’t compromise on service

Understand the relationship you have with your clients. Consider the ‘personal touch’ but ensure that you manage your cost base. Find the balance of increasing client expectations without increasing cost.

Keep your processes and systems up to date

Automation is key. Consider streamlining your processes and systems to give you a real competitive advantage.