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.