Reid & Partners
Power your decision making with data
Legal market research enables your law firm to make strategic decision making across all areas of your practice. Without accurate data, the partners or principal are operating on nothing more than a whim which could prove to be costly if misguided.
A competitor analysis is the process of examining competitor marketing activities and assessing their strengths, weaknesses and opportunities. They help law firms benchmark their own activities and can even highlight other law firms that were not known to be a serious competitor. We are available to perform an tailored and comprehensive analysis of rival law firms. Dependent on your goals, we can look at things like:
- Competitors’ online presence, including websites and social media.
- The legal services offered by your competitors.
- Competitor digital advertising activities.
- Up and coming law firms that are increasing reach and market share.
Publicly available data relating to the legal sector and general consumerism can be obtained from various databases and through the Freedom of Information Act 2000. The type of data sought out depends on your specific need of it. We are available to identify what data is available, collect it and compile it in report format.
In-demand legal services are constantly evolving and the market size for each service often ebs and flows. We can help discover and consider gaps in the market based on micro and macroenvironmental factors.
We can identify market research reports and analyse them with a view to dissect information that can be used by the Partners or Principal to make well-informed decisions.
We offer free, no obligation initial consultations.
We adhere to Solicitors Regulation Authority (SRA) rules on cost transparency. We’re of the opinion that if you have to, then we will too.
- £80 hourly rate.
- Plus costs. (eg. market research reports).
- Monthly rolling agreement with optional capped hours.
- 5% discount if you enter a retainer agreement.