Over the last week, many of my bankruptcy clients have reached out asking for advice on how they might continue to practice with limited disruption due to COVID-19 (coronavirus) over the next few months, along with my overall thoughts and outlook for the bankruptcy market.

I have spent my entire career adapting technology to the law to make it easier for clients, so I hope you find my insights useful.

While the timing could not be any worse in the midst of tax season, there is significant upside. I expect next week to remain soft for search volume, but the market will begin to pick back up once a “new normal” of living with COVID-19 is established and people begin to shift out of panic mode. Unfortunately, this will lead to a soft tax season overall. On the plus side, there are still significant tax season refunds yet to come from the IRS, so there will be some high collection days ahead.

Additionally, at the end of Q3 and beginning of Q4, there will be a significant increase in the need to file bankruptcy based on the impending recession, and the overall market will take off like a rocket.

Here are several guidelines to adopt:
1. Confirm that everyone has the ability to work remotely. Does each employee have a computer and all equipment needed?
2. Does each employee have access to the cloud, remote desktop, CRM, phone system, and any other platform needed to perform their job? I recommend writing up instructions on how to use these systems remotely.
3. Does each employee have internet strong enough to support the above programs? Make sure to test your VoIP quality before rolling it out.
4. Make your employees feel safe and comfortable in the fact that they can work remotely without any negative repercussions from you. Empower them to make the right decision for their families.

2. Lead Automation – With your staff working remotely, they likely won’t have the time and ability to follow up with your leads in the same dedicated manner they did previously. Look to marketing automation to help with this by rolling out automated follow-up calls, emails, and text messages to reach your leads more easily.

3. Chat – Roll out chat functionality on your website to reduce the number of calls that need answering and drive additional leads. Sophisticated chatbots can answer questions from your clients and send you an email with the conversion history, so you can follow up with prospective clients.

4. Phone Consultations – Stop making clients drive to your office and make it a habit to get started over the phone immediately. It saves your client time and money, it’s healthier and safer for everyone, and it will increase your conversion rate. This form of consultation takes practice and a new approach.

5. Client Meetings – Client meetings in person will be limited over the coming weeks, so learn to make them more efficient. Now is the ideal time to implement a cloud-based document collection platform, so your team can work remotely with clients. You can also take meetings with clients via Skype or other video chat platforms.

Immediate Solutions
Please feel free to reach out to me to see how Firm Outcomes can help you implement any of the above tips, advice, and functionality. We have solutions that can help you with exclusive lead sources, marketing automation, remote intake, document collection, and technology-savvy practice management.

The next several months will be tough, but you can make it to the other side of COVID-19 (Coronavirus) and strengthen your firm with the right mindset.

Please stay healthy and safe in these unprecedented times!

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