Product Placement: How to Use Document Automation to Develop an Additional Revenue Stream
Most lawyers view document automation as a time-saving device. And, that's true: the efficiency wrought by document automation allows law firms to take on more work, and to make more money. But, in the modern context, it may be that law firms are still underutilizing document automation. As law firms seek to revise their payment structures in order to appeal to modern clients, some are opting to sell products, rather than (or more likely, in addition to), services. Law firms have always sold personal services, which are high-touch, and costly. But, modern consumers want cost certainty, in terms of total cost of representation -- and, some folks who want to access legal services want to manage that process themselves. Traditionally, law firms had no way to reach, or capture revenue, from DIY clients. With legal products, however, law firms can appeal to both DIY-focused and cost-sensitive legal consumers. One obvious product law firms can sell are legal docume...