An interesting article on Legal Futures noted that the Legal Services Board has secured agreement from regulators to publish information in a way that can be used by comparison websites.
Is the volume of transactions that would be referenced on sites, for any but the larger, more private client focused firms, truly sufficient to create a “legal trip advisor”? However, as the author says, “Even if we don’t see full-blown comparison websites, the market will shift towards consumers demanding greater transparency and more information about the quality of service they expect to get from a legal practice.“
The overall direction is undoubtedly true; people in both corporate and personal life are using social media to gain a better understanding of the quality and service of legal as well as other professional services firms. This is something managing partners and marketers need to be thinking about. It generates a potential gain – but also a potential risk if you don’t understand your current performance and are not getting the more detailed feedback from clients that would allow you to improve it.