The Referral Fee Ban

The Referral fee ban, what does it mean and who will it affect ?

At the moment we have no idea as to what will be deemed as a referral fee and how it will be policed by the SRA. All we do know is that in April 2013 the referral fee ban will come into affect and that solicitors will need to find a way around getting new clients without the help of claims management companies or insurance companies.

One option seems to be to get into bed with an SEO company and a few companies are already going down that route. The problem then is choosing the correct company. How do you know which one to choose, how much do you need to spend and how do you know if they will even produce results ?

A second option is to form an ABS. This can be costly and time consuming and a lot of companies are averse to handing over a part of there company to a claims management company. Again this is a risky business and has several implications as to what could go wrong.

The third option and one that for some reason a lot of personal injury solicitors are not thinking about is to get new business through their own websites. When the ban comes into play we know for sure that people will still be looking online for a personal injury specialist. If anything the numbers will increase as people find themselves with only one a few routes to find a lawyer, either through a friend/business referral or on the internet. A ban will not stop people searching for help. In this case those people that are looking for help will be even more valuable and likely to need help as they will actively be searching for help, instead of being hounded by 4-5 companies to sign a CFA.

It is becoming more and more important to find ways to beat the referral fee ban and as April looms closer injury lawyers and solicitors need to act now or risk being wiped altogether. If you need help to beat the referral fee ban you need to talk to a company that can offer you an online solution. But that is just the start!

Next thing you will be talking to SEO companies to find out how they are going to help you and then asking for prices. Then like in any business tendering process you will ask for a few other quotes. And that could be the big mistake. Next thing it is a bidding war and like most will come down to price. As discussed before you need to Beware of Cheap SEO for Solicitors as this could end up costing you far more time and money in the long run.