Posted in Latest News on 3 Feb 2013
The SRA began accepting applications for ABS status on 3rd January 2012. On 28th March 2012 the SRA licensed its first three ABSs; Co-Operative Legal Services, John Welch and Stammers, and Lawbridge Solicitors Ltd. In the twelve months to January 2013 the SRA reported that 454 firms started the application process. Without doubt, ABS incorporation is gathering momentum and the consensus is that the legal services landscape will change over the next five to ten years; consumer choice will not be limited to big brand law. Deregulation should not hold any fears for small, medium or large firms who are prepared to adapt.
Australia deregulated their legal services in early 2000. In 2011 the Australian Law Society National Profile Report stated that there were 8,234 private law firms operating in Australia and 83.4% of these were sole practitioner firms.
It was great to hear Berni Summers, Managing Partner of 3 Partner firm John Welch and Stammers, tell us how they leveraged the publicity from becoming one of the first ABS firms; as a result they have never been busier and have succeeded in driving new and lapsed business through their door.
Our Marketing Director, Adrian Bentley, advises that the marketing principles for legal services are the same as for any other business. If you are a business owner, Department Head or an ambitious Fee Earner and you are not yet familiar with the 4 P's, then you should get to know them! Product, Price, Promotion and Place will all ensure the survival of new and existing entrants to the legal services market! If you are not sure where to start or you suspect your current strategy is not working then our in-house Marketing team could help. Adrian is already working on some exciting legal projects and would be more than happy to have a chat about how we could sharpen up your legal service offering!
Email jon@douglas-scott.co.uk to book an initial call!