Last week, LawPath formed a partnership with leading legal content and technology provider, LexisNexis Pacific in a bid to assist firms with the commoditisation of the profession. They will now be offering LexisNexis customers access to LawPath’s innovative lead generation platform as part of their workflow.
While larger law firms are at the forefront of the industry with sophisticated practice management and breakthrough business development technology, LawPath’s unique lead generation model is set to revolutionise how smaller firms find and engage with new clients, while at the same time, dramatically reducing business development costs.
LawPath offers a low-cost, risk-free lead generation model to lawyers by connecting them with clients urgently seeking legal assistance, only charging when the lead converts into a billable matter for the lawyer.
The new partnership between LawPath and LexisNexis means lawyers will eventually be able to accept new client referrals seamlessly within one LexisNexis practice management solution.
“LawPath are obviously very pleased that a globally respected brand such as LexisNexis have entrusted us to partner with them. It is a major breakthrough for our business, adding remarkable value for our customers and our lawyers. We’ll benefit from that brand association as lawyers throughout Australia will see that we’re a serious online legal service provider that they can trust,” says Paul Lupson, CEO of LawPath.
“Lawyers will also benefit from the LawPath LexisNexis alliance as we’ll be offering easy access to a range of LexisNexis products direct from the lawyer extranet they log in to when they join LawPath … Similarly, we’re excited by the value we can bring to LexisNexis clients in helping them to build a profitable practice.”
Lupson adds that the timing couldn’t be more perfect. In a recent study by LexisNexis Pacific, small law firms across New Zealand and Australia identified maintaining profitability, managing costs and cash flow as their three biggest pain points.
“Our clients were telling us that they felt threatened with economic pressures and were seriously concerned about declining revenue. We knew we needed to adapt to help our customers grow,” says LexisNexis Pacific CEO, TJ Viljoen.
LawPath has been designed to help with these issues through their delivery of qualified leads to the 190 participating law firms, reducing time spent on marketing and business development.
“LawPath essentially becomes an outsourced marketing and business development team for our law firms; the biggest benefit is there are no costs until a lead converts into a billable matter, and we win when our lawyers win,” says LawPath Cofounder, Damien Andreasen.
LawPath Co-Founders Lupson, Adreason and Andrew Rose have extensive knowledge on how the internet can redefine industries and create new revenue streams. They’ve founded and exited internet companies, including a $53 million dollar exit for European business, Budgetplaces and a $40 million dollar exit for Australian group buying company, Spreets.