Having as many specialists as possible in a law firm is vital for several reasons. Mainly it allows a law firm to grow in several niche markets, providing a successful growth strategy.
Each lawyer in the law firm can offer services they specialize in, leaving others free to offer their particular expertise to other clients. Perhaps, in the beginning, there won’t be a demand for all the specialties, but as clients become more aware of the different niches you offer, the bigger the potential advantages are for your law firm. The benefits of having specialist lawyers apply to both small and large law firms.
There are several fascinating niches, and the type of specialists you will want to employ will depend on your law firm, clients, location of your legal practice, and market trends. Interesting specialties include digital privacy, patent law, tax law, family law, personal injury law, or oil and gas law.
Other interesting specialties include winery attorneys, elder law, gambling and entertainment law, and timeshare law. Demand is also increasing for legal skills in newer areas regarding cannabis, cybersecurity, cryptocurrency, LGBT, sports, and drones.
7 Reasons To Have As Many Specialists as Possible
Whether you are building a new law firm or remodeling your existing firm, these are the seven reasons why your firm needs as many specialists as possible.
1. Grow Your Competitive Advantage
Practicing general law means that a more extensive base of lawyers competes for prospective clients. If you build a firm with as many specialists as possible, you increase your competitive advantage by attracting clients requiring different niches. It might take some time to grow a client base in each of the areas your firm specializes in, but once you have a few satisfied clients, more will follow.
A firm with several specialists can use this to its advantage by writing blogs, speaking at legal industry events, and sending out informative newsletters. In addition, this knowledge going out to clients and prospective clients helps gain recognition for your firm.
Other activities within a niche that can get your firm recognized include joining the committees of bar associations and lobbying for legislation. When you and our legal team are involved, more people are likely to hear of the several areas of law you specialize in and are likely to refer your law firm to others.
3. Marketing is Easier
Marketing is required to target your ideal audience, and the more areas your firm specializes in, the easier it is to market your firm. Create a website showcasing the niche areas your team members specialize in and use keywords to your advantage, helping to attract organic traffic to your website pages.
4. Become A One-Stop Legal Firm
The more specialized services your firm offers, the more you can assist your clients with legal issues. Think of a person requiring real estate law but is also branching into growing grapes for wine. The same person also needs a good family lawyer because of an ongoing custody battle with their ex. Having a team of specialist lawyers means that your client has access to all the legal services under one roof. An excellent real estate lawyer is one thing, but offering more legal services helps you retain a more extensive client base.
5. Clients Demand Expertise
Clients prefer to hire legal firms with extensive knowledge in the field of law they require, preventing any surprises in their cases. The more specialized the services you offer, the more likely it is for clients to prefer your firm over others.
6. More Income and Higher Profits
Clients will pay more for specialized knowledge, so the more specialist areas your firm represents, the more you can charge. You will have to pay specialist lawyers more, but your profits increase because each person in your firm is practicing in niche areas.
7. Job Satisfaction
Undeniably, a team of legal people, each practicing in the area they specialize in, will ensure that you have a legal firm packed with people who love their job. Many lawyers find it satisfying to work in a specialized legal field instead of just practicing general law.
Creating a legal firm with as many specialists as possible will increase the clients you attract to your legal firm and allow you to offer them a wider variety of legal services. In addition, people who become specialists in their field are more likely to love their legal career, offering your clients niche legal services and a passion for the law.