LEAP – The secret to profitable conveyancing
To increase profits in such a competitive market, busy law firms must maximise efficiencies when processing conveyancing work and generate new business wherever possible. LEAP, a leading cloud software provider for small law firms, is hosting two seminars, one in London at Microsoft’s headquarters and one at the Manchester Art Galleries, on how law firms can improve business profitability.
These free to attend events look at how putting effective methods in place to convert incoming conveyancing enquiries into new business and increasing the use of cloud-based software, can hasten the conveyancing process, so generating efficiencies and greater profits. In addition, the event will look at ways to improve profitability by removing the reliance on panel managers and their resulting commission.
Keynote speaker Ian Cooper, author of the Financial Times Guide to Business Development, will provide advice based on his recent major survey on ‘Converting Telephone Enquiries: Residential Conveyancing.’
The survey and subsequent report is a comprehensive review of the way residential conveyancing firms and departments deal with conveyancing requests. It is based on reviewing the results of mystery calls for quotes to 387 firms nationwide; interviews with senior management from residential conveyancing departments in over 100 firms and feedback from over 1,000 call handlers.
Amongst the findings, the study shows that:
- Over 85% of firms seem to treat ‘residential conveyancing quotes’ as a purely ‘low level’ administrative task.
- 91% of firms make no attempt to differentiate themselves from competitors, either during the telephone enquiry or in any follow up email.
- In over a third of all calls, neither party knew who they were talking to, as the caller’s name was not taken and the call handler had not introduced themselves and in 97% the call handler failed to either ask if the caller wanted to go ahead, even when the caller responded positively to the quote.
“The truth is that the majority of firms condemn themselves to the inevitability of quotes conversion failure.” says Professor Cooper. “The report reveals the main reasons for failing to convert. We looked at a number of key areas, including telephone techniques; how disbursements are dealt with; email follow up quoting; pricing; opening hours; competition from online website conveyancing operations; tracking results; who handles the calls”.
Benefits of attending the LEAP seminars include:
- Hear from Professor Ian Cooper’s on ‘Finding the missing millions: Converting telephone enquiries for conveyancing quotes into profitable business’.
- Learn how to generate extra revenue from experts in the field and leading conveyancing software suppliers including LEAP, InfoTrack, Microsoft and Perfect Portal.
- Explore how the innovative use of technology within the conveyancing market is helping law firms to work more efficiently.
- Identify how to grow your network of referrers and market your services directly to estate agents, mortgages and the public at large without the need for a panel manager.
- Take part in an interactive discussion that examines how cloud technology is changing the way law firms practice conveyancing.