According to online journal Lawyers Weekly, the face of the Australian legal market will experience a dramatic change over the next five years. Firms are pressured to embrace the gradual change soon lest they lose to the competition. Several factors that reportedly encumber private practice in the country are flourishing boutique firms, tightened budget allocations and proposed alternative price structures.
A survey cited in the article showed that 61.8% of managing partners in the legal industry describe current market conditions as being in a state of constant change. Meanwhile, 20.6% of them say that firms are pressured by their clients. Clearly, law firms are in for some challenging times and they’ll need every possible edge to stay on top of things. To that end, they can start with raising their marketing game.