Retention rates for conveyancers are poor, to say the least. The law firms we speak to often tell us they're confident their previous clients will seek them out again the next time they move. The truth from our analysts is perhaps a little more shocking:
Only 11% of clients instruct the same conveyancer they used in their previous move.
This means, on average, that only one in ten of your clients are returning to you and the other nine are opting for competitors. According to Shopify, legal services tend to have an average customer retention rate of 84%. This highlights just how low the retention rate is for conveyancers. What are the reasons behind this?
It’s easy for clients to forget who handled their previous transaction if you did little to make your law firm memorable. Here are some of the ways you can help to create a stronger brand presence:
Each case can quickly start to feel like just another transaction. However, the key is to create a personalised experience for each client. Get to know their individual goals, needs and concerns and give them that extra attention to detail to demonstrate that you’re invested. Tumbleweed for days or weeks on end is only going to cause frustration and contribute to wobbly buyers getting cold feet. You might be busy progressing their file, but the client doesn’t know that if you don’t tell them. A quick check-in will mean a lot. Even if there’s nothing to update about and you’re still waiting for a response from another solicitor or searches to come back, just let the client know that. They’ll be grateful for any update, no matter how small. Remember - most clients have no idea how long the conveyancing process takes. If you’re transparent about time scales, your clients will be a lot less stressed and a lot more understanding. Our conveyancing software tool Convey Insights gives you the stats on how long you take to complete and what the national average is. Use this stat to communicate with clients or track it over time to see how your law firm is performing.
When you update your clients, make sure you’re also available to answer any questions. The simple act of showing that you care will set you apart. You may be busy, and this may seem like a taxing task but it’s essential for the longevity of your law firm!
The transaction is complete - hurrah! But wait… don’t let your relationship end there. This is a great time to keep communication flowing. Send emails thanking the client for their business and asking if they need any additional support or have any questions. You may be able to offer advice on leasehold extensions or boundary disputes for instance. It’s such a small gesture that will go a long way.
At the end of each transaction, invite clients to participate in a review exercise. Seek feedback to understand their experience. This doesn’t need to be time-consuming. A simple telephone survey from someone neutral helps gather honest feedback and insights. It not only gives you points to work on but also helps cement the memory of your law firm for longer.
After the client has settled into their new home, you can reach out again to ask if they would be willing to leave you a review on Trustpilot or ReviewSolicitors. This is just another touchpoint; a reason to keep communication lines open and your law firm in their mind for longer. It’s also great for building up your reputation and social proof! If a client leaves a Google review, for instance, it remains on their account. This review serves as a reminder of which conveyancer they previously used.
To keep post-completion communication going, you need to come up with reasons to stay in touch. Why not celebrate milestones? Send personalised emails or cards on their home anniversaries or birthdays. If you want to be more formal, opt for newsletters. Include details about market insights, industry news, law changes such as stamp duty reforms, remortgaging benefits or even seasonal promotions. Act as the industry expert and you’ll create a reputation as a trusted go-to advisor for all things legal-related.
To maintain contact with past clients, TwentyConvey’s Convey Alerts can help. We can notify you every time your former clients have listed their homes for sale. This provides you the opportunity to reach out to them via email, phone call or letter offering your conveyancing services. From working closely with our clients who receive Convey Alerts, their feedback is that homemovers are happy to hear from their former conveyancer. They’re impressed they’ve been proactive in reaching out and this results in more instructions won.
Many law firms focus solely on new client acquisition. But you’re leaving value on the table. You can unlock more revenue opportunities if you focus on client retention. Our Convey Alerts are warm conveyancing leads for solicitors so they’re more likely to convert compared to going after new clients.
Word-of-mouth referrals are powerful for any firm. Happy clients will often recommend your services, but they sometimes need a nudge to do so. Set up a referral programme that offers an incentive for your existing clients to spread the word about your services to friends, family and colleagues. Offer rewards such as discounts on future services, gift cards or vouchers. Forge ties with local estate agents or mortgage advisors to secure consistent referrals.
Cross-selling is a strong way to increase revenue per client. By suggesting additional legal services at key moments, you can provide greater value while growing your business. A natural cross-sell is will creation – homemovers, especially first-time buyers, often consider making a will to protect their new asset. If the move involves a couple moving in together or a separation, clients may also be interested in prenuptial agreements, divorce services or child custody arrangements. Additionally, many homemovers seek tax and financial advice on matters like inheritance tax and capital gains tax.
Encourage your entire team to prioritise not just client satisfaction, but also long-term relationship building. Every interaction is an opportunity to build lasting loyalty, which in turn leads to repeat business and referrals. This is the foundation for getting more value from your clients.
Your time is precious, and relationship-building is not a quick task. It may be worth segmenting your client base and focusing your retention efforts on the most profitable clients. Find out your client’s circumstances. Those purchasing a small house such as first-time buyers are more likely to outgrow these in a few years especially if they start a family. According to Zoopla, homeowners in one or two beds don’t stay as long – nine years versus 13 years for those in larger homes. As mentioned, clients who are moving due to a separation may also be more open to other law services such as child custody and divorces.
We need to stop viewing conveyancing as a one-off transaction and think about how to ensure long-term success. Repeat business isn’t the norm. But it can be! As Bethany De Montjoie Rudolf states in her article, Future proofing your firm is not just about technology, repeat business is tricky “because of the tendency not to view conveyancers as ‘my conveyancer’, as you might do for example with a financial adviser, an accountant, indeed a solicitor in general.” It’s time we changed that mentality to help generate consistent business.
Keep your clients happy, stay on their radar and who knows – they might just be back sooner than you think, with another transaction that has your name on it.