The personal injury law field is a crowded space. This is largely due to the complexity of the issues personal injury attorneys face each day.
As one Dallas personal injury attorney puts it, “personal injury law is easily the most misunderstood body of law in America today.” To make matters even more complicated, personal injury accidents can occur in nearly any facet of day-to-day life. Examples of scenarios that might lead someone to contact a personal injury attorney include:
- Motor vehicle accidents,
- Slip and fall accidents,
- Medical malpractice, and
- Assault and battery.
Due to the complexity of the law and breadth of potential knowledge required in this field, personal injury victims will often have difficulty navigating a case on their own. With so many potential clients out there looking for a personal injury lawyer to help, this has led to a steady increase in personal injury lawyers in recent years.
In fact, the average industry growth is estimated to be 1.6% per year. However, with the number of personal injury attorneys in practice increasing in recent years, this space can often feel saturated and competitive to the attorneys trying to get new clients in the door.
This constant growth, coupled with an ascertainable need, can lead to some great business opportunities to capitalize on.
If you are an entrepreneur looking for your next venture, look no further than the personal injury law field. This article will discuss what business opportunities exist in the personal injury law field and what you can do to maximize those opportunities.
Lead Generation Opportunities
These days, many personal injury lawyers rely on leads to acquire potential new clients. Lawyers spend the vast majority of their time handling the cases they currently have on their plates. This leaves little to no time to work on obtaining new clients.
However, this remains an essential part of the process. All cases will inevitably come to an end. Thus, if a personal injury lawyer does not have new cases coming in, business may slow or even come to a halt. This is where you can help.
Most attorneys know they need to work smarter and not harder, and they will be willing to pay for a service that can help their firm get new cases. This way, they can keep doing what they do best—helping clients with their legal needs.
Lead Generation in General
Lead generation can be a lucrative business opportunity. While lead gen strategies will vary from site to site, the concept is generally the same. Law firms will pay money for each qualified lead you are able to provide.
It is not uncommon for personal injury law firms to pay hundreds of dollars per lead. Scaled to the thousands of firms that exist nationwide, this can quickly lead to a fruitful business venture.
Rank a Website and Sell the Leads
There is a business opportunity in ranking a website geared toward the personal injury law field and selling leads your site receives. This process is sometimes referred to as “rank and rent”.
The goal here is to create a website and continue to build and nurture until it becomes visible in search engines, or “ranks.”
Ways to improve your site’s ranking include:
- Publishing relevant personal injury law content;
- Updating your content regularly;
- Effectively utilizing metadata;
- Using links to relevant content within the text on your site; and
- Describing visual and video media using alt tags.
Taking these steps can greatly improve your site’s rank and draw traffic, along with potential leads. These leads are where the business opportunities lie.
Once you start getting inquiries and phone calls, you can then sell those to lead generation companies like Ring Partner, who have the connections and resources to connect those leads with personal injury lawyers who can assist them.
Alternatively, you can attempt to take those leads and sell them directly to personal injury law firms on your own.
Creating Website Directories to Sell Memberships
Website directories, such as findapersonalinjuryattorney.com, can also be beneficial for personal injury lawyers looking to acquire potential clients. Thus, this can also be a business opportunity to tap into.
These types of online directories for lawyers are just what they sound like. They list information about lawyers in one convenient online location for potential clients to utilize when searching for an attorney.
To get clients in such a crowded space, personal injury lawyers need to be seen. Thus, many lawyers will want to be on as many of these types of directories as possible to reach a wider audience. By creating such a website directory and selling memberships to attorneys, you provide lawyers with the visibility they need while also running an effective business model on your end.
Creating “Nomination” Badge Sites for Attorneys
Personal injury lawyers are always looking to set themselves apart from other competing lawyers in their area. One way to do so is by getting featured on websites that distinguish certain attorneys.
This is a great opportunity to capitalize on. Consider creating a branded or “nomination” site, like Best Attorneys of America. These types of sites provide paid nominations and badges for attorneys with links back to their site. Lawyers will gladly pay to be featured on a high-quality website that showcases their expertise and may ultimately lead to business opportunities for them.
While sites like these do already exist, there are ways to improve upon them and make them unique. Create the right site, and the personal injury lawyers will pay to be featured.