In this video we use Clio’s 2019 Legal Trends report to compare how hourly billing stacks up against subscription billing. What’s great about Clio’s Legal Trends report is that contains a very large data set from active firms. Because of the reliability of the data, we are able to draw some firm conclusions about how this model is performing. Here is a quick hint at what you’ll find in the video; for small firms it is a very inefficient monetization model (we explain why). We then compare the billable hour inefficiencies to a subscription billing based model and the difference will impress you I am sure.
Why watch this video? Well, the author Allen Rodriguez (also our Founder/CEO) has been creating subscription legal services for law firms and other organizations like LegalZoom for about a decade. In fact here are some quick facts to demonstrate his experience in this area:
Watch the video, you won’t be disappointed. If the video inspires questions, just ask, we are here to help. If you want a good history and relevance of subscription legal plans for law firms be sure to read our post on the subject. Enjoy.
If you are interested in offering subscription plans at your firm, or would simply like to learn more and network with attorneys who already offer subscription plans, consider joining our moderated Facebook group: https://www.facebook.com/groups/3329161770499196/
In this group, we share insights, best practices, and answer questions related to subscription services of all types for law firms.