Hennessey Digital Releases 2022 Law Firm Response Time Study, Findings Reveal Gaps in Intake Process that Could Cost Law Firms Millions in Potential Revenue - Yahoo Finance
NORTH HOLLYWOOD, CA / ACCESSWIRE / April 19, 2022 / Lawyers are leaving millions of dollars of revenue from potential cases on the table, a new study on law firm responsiveness from digital marketing agency Hennessey Digital reveals.
For the second-consecutive year, Hennessey Digital, the digital marketing agency of choice for the legal industry, has conducted its Law Firm Response Time study to provide the industry with a deeper understanding of the effectiveness of online lead forms. Findings from the 2022 study show gaps in law firms' intake processes that could lead to millions in lost revenue for high-value leads and cases.
In its original 2021 law firm response time study, Hennessey Digital uncovered issues with firms' intake processes, most notably the importance of responding quickly to lead forms submitted via a law firm's website. The overall response rate improved from the previous year, with 67% of all firms contacted responding in 2022 (up from 59% in 2021).
17% of law firms in the 2022 study responded to the lead form inquiry in 10 minutes or less.
Other key findings:
If a law firm failed to respond to the lead form inquiry in 15 minutes, they were unlikely to respond at all.
The firms that responded in both 2021 and 2022 improved their response times significantly, by a median of 53 minutes faster than the year prior.
13% of firms responded with all four forms of communication tracked in the study (phone call, voicemail, email, and text messaging).
43% of firms were missing a live chat feature on their websites.
Have COVID and pandemic economics impacted the legal industry? A large number of firms contacted in last year's study either didn't respond or were unable to be reached in 2022. Only 43% of the firms in the original 2021 cohort responded this year.
Eight law firms responded to the lead form inquiry in under one minute, raising the bar for lead form responsiveness. Worthy of recognition are:
"As plaintiffs' law firms look for avenues for new growth, a low-hanging fruit for many continues to be improving how quickly they respond to inquiries from potential clients," said , President and COO of Hennessey Digital. "There is no shortage of solutions available for tracking and engaging with leads, but this study confirms once again that none of that matters if a firm takes hours to respond to inbound inquiries."
Hennessey Digital Senior Director of Marketing explained the significance of the study results and the agency's investment in law firm website research.
With the and in its SEO and web development teams, Hennessey Digital is well-positioned to advance its thought leadership and fulfill its for 2024, with legal industry research and technology innovation fueling its plans for growth and expansion.
source: https://finance.yahoo.com/news/hennessey-digital-releases-2022-law-123000489.html
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