additional income generators #1

In the challenging market we all find ourselves in, sources of new income are always on the agenda.  One recent development in the UK market which has caught legal edge’s eye are the online legal answers portals which are emerging.

Many of the new entrants to the legal services market are spending a lot of resource on trying to uncover the lucrative “latent market”.  That is to say those potential clients who would not ordinarily seek out legal advice because of various factors, but most significantly due to their perceptions around the time and cost.  CPP for instance are busy making significant headway into this market with their “legal triage” products.

However the question is, how can lawyers get into this marketplace.  One option is to register with a company that has already built the infrastructure.  Legal Edge have been speaking to one such organisation, www.expert-answers.co.uk.  Their concept is taken from the States, where is has proven extremely successful.  A visitor to the website with a legal question simply types it in, and then waits for one of the online experts to provide a reply.  The fee structures are set up to allow the customer to decide on the value of the answer.

“What appears to be attractive to our customers is the ease of use of our interface”, says director Lloyd Barrett.  ” If visitors to the site have a legal query, all they need to do in the first instance is to type in the question. There is no requirement for pre-registration, or to leave a number for someone to call them back.”

The Experts who are answering these questions are lawyers who have registered with the site.

Its easy to see how this type of portal could be a significant additional income generator for lawyers (as it has been in the States), and may be attractive to sole practitioners in particular.

Expert Answers are still actively recruiting lawyers onto their panel of experts.  If you are interested in registering then visit www.expert-answers.co.uk/register_expert.php quoting Legal Edge.

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