By: Nicole Bradick, CSO of CuroLegal
Yes, your firm’s website is technically a digital product. But think more broadly of digital products as anything a person can consume online, without having to hire your firm and engage your services. This can include a wide range of things, from apps to stand-alone websites with useful information/tools, to whitepapers or guides.
Law firms are in the service business and typically do not think of themselves as creating and distributing products, but this can be an excellent option for your firm to create a competitive advantage and, ideally, increase revenue.
Your clients are online consuming digital products (both free and paid) every day – so why not products from your firm?
Think about LegalZoom and Avvo, for example. These sites give away or sell legal forms, and sometimes bundle them with attorney advice. This is precisely productization of legal services – taking something that used to be the result of hiring a lawyer for legal advice and other services, and creating some tangible digital product that a consumer can download and use, all without ever having to talk to a lawyer.
Why should your firm think about building products? There are a number of benefits, and they all generally fit into the marketing category. Digital products can be an excellent way to both create added value for your clients and to create trust in both prospective and existing clients. Giving away products for free is a very powerful marketing tool. Everyone loves free, and if clients and prospects find your product useful and high quality, they will know to come to your firm when they have a need for more custom solutions or complex scenarios that only a lawyer (and not technology) can handle. This can be particularly effective if your firm practices in a niche space and you can use your product as a way to build trust with prospects by showcasing your firm’s expertise.
Building products should be considered as a part of your firm’s overall marketing strategy. This is not something to approach lightly. Even if you are giving your product away for free, it should reflect the quality of your paid services. You will need to use good design, keep the product up to date, etc. It may cost you some time and/or money, but if done right, the return on investment should be substantial.