ReviewSolicitors is excited to announce a brand new feature that will fill a real need in the legal market.
Our ‘Value for Money’ pricing charts will give clients relative information on price with the ability to determine the value they are likely to receive from each firm.
Charts will be available for every law firm in the UK, and will be displayed on each law firm’s ReviewSolicitors profile page.
Since its inception, ReviewSolicitors has strived to help clients understand that the level of service provided by law firms varies significantly – and so does price. Many clients often view law firms as ‘all the same’, and fail to understand why one firm would have higher hourly rates than another.
Simply publishing pricing information is not a valid solution as it provides no context as to what a client will actually receive for their money. This also encourages firms to compete on price alone, whilst potentially lowering the level of service, in order to compensate for lost revenue. This has happened in the conveyancing market and has led to a degradation in quality of service in some instances. As a result, we have decided to introduce our new ‘Value for Money’ chart system. It will allow clients to see the value for money they can expect when instructing a law firm.
Trustworthiness is what clients really want
Aside from those clients who do not want to have to pay for legal services in the first place, most understand that their legal case comes with its own specific requirements, and thus determining an exact price prior to speaking with a firm is inherently difficult.
What clients are really looking for when searching for a firm to use, is reassurance that they will receive a ‘fair price’. That is, a price that is competitive and ‘good value for money’ for the service provided.
Without having some sense of this value, the majority will make their hiring decision based on price alone and instruct the cheapest solicitor. Our intention is to help clients understand that paying more for legal services often leads to a significantly better outcome, due to the selection of a professional firm with plentiful resources and talented, motivated staff willing and able to dedicate the requisite time and attention to each case.
How the new ‘Value for Money’ chart works
Our newly revised client questionnaire now contains optional questions regarding price. Over the coming months, we will be compiling the relevant data obtained from these and launch the pricing charts soon thereafter.
The charts will be based on clients’ opinions of firms’ services and whether they thought it represented ‘good value for money’.
You have the opportunity to influence where you appear on the scale by signing up for a ReviewSolicitors account (which you can do free of charge) and providing pricing information for the different areas of law in which you specialise. This will allow your firm to stand out from its competitors. Your pricing information will not be displayed on your public profile (unless you want it to be), but will be used by our system to help calculate your ‘Value for Money Score’. We will cross-reference this with the satisfaction levels from past reviews.
As more reviews are collected, the chart will be adjusted to reflect the new client feedback. You can influence the chart by asking clients to leave a review on ReviewSolicitors.
The charts will be specific to the service the client is looking for, and will show how your firm compares with other firms, both locally and nationally.
It’s not just price
Remember that cost in isolation is not the overriding factor here; rather, it is the value clients place on your service, which will allow your firm to stand out. Our research shows that clients are unlikely to speak with more than three firms when making a hiring decision, so this is an important step to ensure that your law firm is on the shortlist.
To get started, head over to ReviewSolicitors and take control of your listing now: