June 28, 2017
Trends in the legal sector that could impact your law firm.
The demand of specific legal areas always changes over time. As new technologies arise and as new challenges face businesses and governments, the areas of law which become more in demand change.
Keeping up with these changes is vital as this will help your law firm know which areas to invest in and ensure you can best serve your clients.
Here at Edward Drummond, we are passionate about helping our clients in the legal sector overcome any challenges that face them or their customers. Understanding what the public is searching for and the questions they are asking Google or other search engines can help us learn more about those we are serving. This can also be a good thing in terms of creating servicing and products that better solve their problems and provide value to the market.
So, what areas are really on the rise?
Many articles always claim to predict the big trends in law each year but these are often just guesses. We’ve looked at Google Trends to see what topics are on the rise. This is based on what people are searching for on Google. This is by no means concrete evidence however it does provide initial insights that could spark creative ideas down the line. Being able to react to these changes quickly means law firms can better serve their clients and help ensure they deliver the best possible service.
As we enter an interesting period in terms of geopolitics and technology, the law firms that spot new opportunities and trends are the ones that will thrive in the future.
Trends in Consumer Concerns
There have been two breakout stars trending amongst consumer concerns. These concerns can be solved with the help of legal teams putting together comprehensive education and services to help the UK public.
“UK Drone Laws”
Drones have become very popular in the last year, and this trend has come with people wanting to understand the law around using drones. This is a great opportunity for law firms to support the challenges around this technology and help people overcome any concerns or problems they have. Providing specialist consultancy around this topic could attract lots of new clients and business who need to know what the laws are.
As we continue to hear more stories of drones crashing into buildings or causing disruption, the government is increasingly likely to put increased legal restrictions on the use of them.
“New Car Seat Law”
The child booster seat law has recently changed and this has been reflected in the amount of people searching for answers around the “new car seat law.” Automotive law is big business and keeping up to date with regulations and law changes like this is likely to prove very important for any law firm who operates in this area.
Trends in Legal Sector
We can also see trends within the legal sector. These professional queries show what areas of law are becoming more popular and which areas have seen a decline.
Law Apprenticeships has seen a big increase in searches in the last 5 years. This is useful for law firms to take note and know that there are people looking for experience and apprenticeships in the UK. Does your firm currently have an apprenticeship to attract this future talent?
The Markets in Financial Instruments Directive (known as “MiFID”) is a European Union law that regulates the investment services across the European Economic Area. We can see that after events such as Brexit and government elections across Europe over the next few years, many in the industry may have been searching for the term.
MiFID is the cornerstone of the European Commission’s Financial Services Action Plan, whose 42 measures will significantly change how EU financial service markets operate.
“Tier 2 Visa”
Tier 2 Visa is a phrase that refers to the visa required for skilled workers to live and work in the UK. The graph below demonstrates how this has increased gradually over time. This reflects employment trends and changes in the UK.
Any employer that brings in international talent needs to stay on top of policies like this one to ensure they follow the correct regulations.
What do these trends in search mean for a legal firm?
The above examples demonstrate how legal firms can utilise behavioural data and consumer insights to make sure they can effectively support their clients and customers. The above examples were chosen at random but you could study any phrase or topic and start to delve deeper into the data.
Being able to spot trends and create services to combat any challenges that are on the rise can ensure a legal firm sits head and shoulders above the rest.
As technology increases and global barriers lessen, new challenges and new opportunities will come quick and fast for law firms. Those that are ready will do better.
Edward Drummond and Law Firms
Over the years, we have helped law firms grow and develop through holistic research and consultancy. To talk more about trends we’ve noticed in the legal sector, please get in contact and see how Edward Drummond can help you grow to the next level.