With the UK legal industry currently turning over a reputed £33 billion a year in revenue, despite a slight post-EU referendum downturn in 2016, due to a lull in corporate confidence, this is a sector that continues to grow at a rate of approximately 2.7% a year.
The future of the industry in the context of Brexit makes this an uncertain but opportunity-filled time for the UK legal industry. With potentially hundreds of changes in legislation on the way, this could have an impact on everything from immigration law and employment law, to corporate and tax laws. Any major economic changes, such as a recession, would also undoubtedly have a knock-on effective on commercial lawyers, if not the wider sector as a whole.
The expected upcoming changes to personal injury law, with the introduction of a £5,000 minimum claim value, as stated by The Law Gazette, is something that will also have a huge impact on thousands of law firms operating in the UK in 2017, and beyond, making this a period of great uncertainty for much of the industry.
To perhaps help mitigate some of the unknown aspects of the future of UK law, legal firms have an opportunity to focus their attention on boosting their online visibility and presence in a low-risk, but high impact, way. Making sure that their websites are geared for their digital users’ needs will send strong signals to search engines and result in higher levels of relevant traffic and more leads.
"Approximately 2 million searches per day on legal subjects took place in the UK in 2014 alone" - Google
In 2014, a Google executive shared the information that approximately 2 million searches per day on legal subjects took place in the UK, with a big emphasis being placed on video and other visual content. The growing use of mobile devices to consume this information is also an important consideration for legal firms looking to grow their market share and increase the number of qualified leads and enquiries they generate.
Our legal sector digital benchmark report focuses on giving a snapshot of the UK legal industry and how the top 200 firms are performing in the digital marketplace currently; taking into account their revenue, share of organic search engine traffic, social media presence, and mobile responsiveness, all in relation to their estimated marketing spend.
The report will highlight which of the top 200 legal firms are making the most of their marketing budgets and are most visible online organically to people using search engines. The really interesting thing is that it’s not always the firms with the biggest budgets who have the greatest bite of the market share; it’s what they’re doing with that marketing spend that counts.
If you have a business in the financial sector and would like to up your marketing game or receive some expert information about digital marketing for financial services, then get in touch with a member of our team!
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