Are You Missing Out on Clients Because You Don’t Accept Credit Cards?

By 2017, it is estimated that 95% of non-cash transactions will be paid by credit or debit cards. That leaves just a mere 5% paid through traditional paper check payments. Many attorneys are beginning to recognize if they don’t accept credit cards already, they may need to reconsider in order to facilitate collection of fees in the very near future.

When New Lawyers (and a Few Old) Leave Money On The Table For All the Wrong Reasons

If I hear one more lawyer tell me they referred out a case to another lawyer ‘just because’ and maybe that lawyer will send something their way down the road, I want to scream, ‘You are leaving money on the table.’ Do you not understand what a referral fee is? Do you not understand the value of this fee to provide you some financial stability for your practice?

How Can I Compete on Value? Every Client Shops on Fees.

Every time a client makes the decision to retain a lawyer, they weigh the fee against the value of your services. If your fee is too high relative to the (perceived) value they will receive, they are not going to retain you. Therefore, if you don’t have a compelling value proposition, you must reduce your fee in order to get the client to retain you. And no lawyer really wants to do that, right? Because then you are competing based upon fees (cost proposition) and that is a losing game. So, what do you do?

Are You Speaking a Different Language?

Unless you are actively looking for non-English speaking communities you may not even realize to the extent they are present in your area. These are families that experience marriage and custody issues, these are workers that have employment and injury-related issues, and these are entrepreneurs that have business formation needs. In fact, due to language barriers, more trivial matters such as traffic tickets and ordinance violations are areas of concern for them as well. But you don’t speak (fill in any language). Learn how to tap these communities even if you don’t speak their language.

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