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This
information has been provided by Australian Lawyer
Ann
Janssen
Internet Strategy: Part 4
Strategies for Small, Medium and Large Law Firms
In our last three Articles we looked at how law firms were using the Internet, how the
internet was likely to impact on the legal profession, and the profile of the profession in
Australia. With this foundation in place, this last Article looks at e-strategies for
small, medium and large law firms.
Many lawyers see the Internet’s mechanization of their process driven services, as well as
the provision of free information, as a threat to their survival. However the Internet also
possesses enormous potential for law firms to reach larger audiences in a cost effective
way, use technology to save on expensive labour costs, and to free up their time to focus on
complex areas or areas that still require their personal touch. As in all times of change,
there are as many opportunities as there are threats.
E-STRATEGIES FOR SMALL FIRMS
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In our 3rd Article, we saw that over 95% of law firms in Australia fell into this category
(under 20 employees). A large portion of their work is process driven and generates lower
profit margins than their larger colleagues.
| Major Strengths: |
Good knowledge of local laws, strong tradition of personal service |
| Major Weaknesses: |
Fragmented market equates to weak marketing position and brand |
| Threats: |
The Internet is a borderless medium which provides national and
international marketing reach with strong branding.
The Internet carries with it the technology to provide process driven legal work online with
little practitioner involvement |
| Strategy: |
Ensure that internal operations are streamlined and fully computerized
(including Internet enablement).
Shift revenue focus from procedural work and strengthen or develop expertise in specialty
areas that are resilient to mechanization and standardization. |
| Opportunity: |
For procedural work, consider joining a 'cyber mediary' that combines many
small law firms under one strong brand. |
E-STRATEGIES FOR MEDIUM SIZE FIRMS
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Medium size firms (20 – 100 employees) appear to straddle the fence between a small firm
mentality and client base, and a large firm persona. You may recall that 2/3rds of medium
sized law firms in our Brisbane law firm study in April still described themselves as a
‘general practice’.
| Major Strengths: |
Broad spread of good expertise. More flexible (less bureaucratic)
than larger law firms so can move more swiftly |
| Major Weaknesses: |
Combines 'small firm' work with 'large firm' overheads. Internet
commoditisation could erode marketshare. May lack the resources to effect a major Internet presence on it own |
| Threat: |
Crowded out of the internet space by resource rich large firms and cybermediaries |
| Strategy: |
Rationalise overheads by ensuring that Office procedures take full advantage
of computerization and Internet technology. Aim to minimize revenue reliance on procedural
work, whilst cultivating specialties and exploring niche areas.
Concentrate on networking and strategic alliances, particularly with organizations in
related business fields that have a strong Internet presence (eg Accountants, Financial
Advisors, Banks, etc) with a view to co-branding services and reaching larger audiences |
E-STRATEGIES FOR LARGE FIRMS
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Major Strengths: High quality, specialist legal services. Strong resources and broad
networks
| Major Weaknesses: |
Conservative, bureaucratic and expensive
|
| Threat: |
The Internet may not follow traditional business practices. Marketing practices
are different and a strong terrestrial reputation may not automatically equate to a strong
Internet brand.
The Internet delivers a lot of free information on legal issues, which law firms previously
charged for. |
| Strategy: |
Look at ways of delivering specialty legal services to create added value to
existing client base, both using the Internet and terrestrially. Streamline and
proceduralise portions of service to free up practitioners to focus on service that is
personal, proactive and preventative.
Reach into other service areas (eg accounting functions, financial planning, etc)
Use the Internet to extend geographic reach |
Obviously it is impossible to cover all areas of this It is topic in one Article, and not
all of the above comments will be relevant to every law firm in a particular size category.
What we have seen from the surveys and studies done to date, is that law firms of all sizes
are only using the Internet for internal streamlining, and are not using the Internet to
increase their client base or marketing reach. As we have seen above, this should be the
natural next step for firms of all sizes, although their particular
strategy may differ based on their resources and type of work.
Lawyers need to be adopt these external strategies and aggressively dominate the new
Internet space with their services. The legal profession as a whole is in danger of being
reduced to a minority voice by disruptive technologies from non-legal private companies and
other professions who do adopt the Internet as a method of delivering personal services or
substitute products. I am sure that most lawyers would agree that the interests of the
public would best be served if lawyers stood behind all such products and services in the
e-space.
CONCLUSION
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I believe that law firms, whether large or small, who alone or in combination under a legal
cyber umbrella can develop visionary strategies that incorporate the power of the Internet,
not only for internal streamlining but for aggressively reaching out to provide new services
to their existing clients as well as new clients, and to reach new markets, have a real
opportunity to establish and sustain a competitive advantage over their slower rivals into
the future and to ensure that the Internet space for legal services is serviced by legal
practitioners.
Ann Janssen
BA.LLB (Hons)
Solicitor & Consultant
ann.janssen@legalmart.com.au
Copyright.
July 2000. All rights reserved
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