Legal Market Research

How well do you understand your target clients and the broader legal market?  At SIS International, we’ve been helping law firms make data-driven decisions for 40 years, leveraging our global expertise – and we’ve seen the transformative power of legal market research in guiding firms’ growth.

What is Legal Market Research?

Legal market research analyzes clients, competitors, and broader market trends data. There are two main types of legal market research:

1. Primary research: This involves collecting original data directly from sources such as client interviews, focus groups, and surveys. Primary research offers deep, firsthand insights into specific issues or populations but can be time-consuming and costly.
   
2. Secondary research: This involves analyzing existing data from sources such as industry reports, legal directories, and public records. Secondary research is often more cost-effective and can provide a broad overview of market trends but may lack the specificity of primary research.

Why Your Law Firm Needs Legal Market Research

Today, relying on gut instincts or anecdotal evidence is no longer enough. Law firms that consistently outperform their peers make strategic decisions based on rigorous research and data-driven insights. Here’s what I check before conducting research:

1. Identifying new market opportunities and client needs: By systematically analyzing market trends and client feedback, you can uncover untapped areas for growth and develop new services tailored to evolving client demands.
   
2. Enhancing client acquisition and retention strategies: Legal market research can help you better understand what drives client decision-making, from factors influencing law firm selection to sources of client satisfaction and loyalty. 
   
3. Benchmarking against competitors: By analyzing the strengths, weaknesses, and strategic positioning of your competitors, you can identify areas where your firm can differentiate itself and gain a competitive edge.
   
4. Staying ahead of industry trends and disruptions: Legal market research can help you anticipate and prepare for emerging trends, from the growing importance of technology and innovation to the impact of globalization and regulatory changes.

Opportunities and Challenges in the Legal Market Research Space

As someone who’s been in the market research game for decades, there’s never been a better time for law firms to leverage legal market research… But with every opportunity, there are also challenges to overcome. Let’s break it down:

Opportunities

Informed Decisions Lead to Real Growth

When you really understand the market—what your competitors are up to, what clients want, and what trends are emerging—you can make decisions that move the needle not just in the short term but for sustainable, long-term growth. You can stop guessing and start taking action based on facts.

Embrace Technology to Stay Ahead

You don’t want to be the law firm that’s stuck using outdated tools and methods. Legal market research helps you spot tech trends early, from AI in legal work to legal automation tools. If you can identify which tech will disrupt the industry next, you’ll be ahead of the curve. 

Better Client Relationships = More Business

Let’s be honest—clients want a law firm that gets them. By doing solid market research, you can truly understand client pain points, preferences, and needs. You can build long-lasting relationships when you tailor your services to meet those needs. And loyal clients? They send more clients your way. It’s a cycle of growth that keeps giving.

Targeted Marketing and Stronger Branding

You’re not just competing for clients; you’re competing for attention. Legal market research gives you the insights to craft marketing strategies that actually work. You can figure out where your competitors are falling short and create campaigns that tap into those gaps. 

Challenges

1. Data Overload – Too Much Information, Not Enough Action

With so much data available today, it’s easy to get overwhelmed. Trust me—I’ve seen it happen more times than I can count. The key is filtering the noise and focusing on what really matters. Legal market research can provide a ton of information, but you’ll drown in it if you’re not careful. The challenge is making sure you’re using the right data to guide your decisions—not just hoarding it for the sake of it.

2. Constant Change in Regulations and Laws

New laws, new regulations, shifting client expectations—it’s all in constant flux. Keeping up with these changes can feel like trying to catch a moving train. But that’s why legal market research is so essential. You must be ahead of the curve, constantly monitoring shifts so you’re not left scrambling when changes happen.

3. Standing Out in a Crowded Market

The truth is, legal market research can help you understand what your competitors are doing right—but it also shows you what they’re doing wrong. The real challenge is differentiating your firm in a crowded market. There’s a lot of noise out there, and if you’re doing what everyone else is doing, you won’t stand out. You need to figure out where the gaps are, where you can innovate, and how to make your services different. That’s where the real opportunity lies.

4. Budget Limitations for Smaller Firms

Let’s face it—not every law firm has the budget to throw at extensive market research. The challenge here is doing more with less. But the great thing is, legal market research doesn’t always require a huge budget if you focus on the right areas. You don’t need to buy every piece of data out there—just the most relevant data to your firm.

5. Adapting to New Tools and Technology

New tools and technologies for market research can seem overwhelming. The challenge isn’t just understanding the new tech—it’s integrating it into your firm without disrupting everything else. But if you can make that leap, efficiency and insight will pay off.

What Separates SIS International in the Legal Market Research Space?

The legal market is evolving rapidly, with new trends, challenges, and opportunities always emerging. To succeed, law firms need to understand not just what their competitors are doing, but also the changing demands of clients, the latest regulatory shifts, and new market forces. Without this knowledge, staying competitive becomes a guessing game. But when you have precise, tailored market insights, you’re not just reacting—you’re staying ahead.

So, what makes us the go-to partner for legal market research?

1. Global Reach, Local Insight: We’ve worked with clients in 135+ countries, gathering insights from different regions, jurisdictions, and legal systems. This means we can help law firms navigate both local challenges and global opportunities—no matter where you operate.
   
   
2. Tailored Research: The legal industry isn’t one-size-fits-all, and neither is our approach to market research. We tailor every study to your specific needs, whether it’s understanding a niche area of law, evaluating competitors in your local market, or analyzing new legal tech trends. The level of customization ensures you get exactly the data you need, without the noise.
   
   
3. Actionable Insights, Not Just Data: Many market research companies provide piles of data—but that doesn’t help you make decisions. We don’t just deliver the facts; we interpret them, helping you understand what the data means for your business and how to act on it.
   
   
4. Comprehensive Competitive Analysis: Our legal market research goes beyond surface-level insights, providing a detailed competitive analysis that looks at your firm’s positioning relative to competitors. This enables you to make smarter decisions regarding pricing, marketing, and client acquisition.
   
   
5. Deep Industry Expertise: Our team isn’t just made up of researchers—we’ve got legal professionals and industry experts who understand the intricacies of the law. This gives us a unique advantage in interpreting the legal landscape, understanding its challenges, and offering insights that resonate with your firm’s specific needs.
   
   
6. Focus on Long-Term Growth: Our goal isn’t to provide one-off insights. We focus on long-term strategies that help law firms grow sustainably. From strategic market positioning to client retention tactics, we help law firms build strategies that deliver lasting value, rather than just short-term wins.
   

What Makes SIS International a Top Legal Market Research Company?

When it comes to legal market research, not all providers are created equal. At SIS International, we believe our unique combination of expertise, global reach, and client-centric approach sets us apart as a top choice for law firms looking to gain a competitive edge. Here are just a few of the reasons why:

Our 40 years of experience: 

We’ve been helping law firms and other businesses grow and thrive since 1984, giving us unparalleled depth and breadth of expertise.

The most affordable prices on the market: 

We believe every firm should have access to high-quality research insights, which is why we strive to offer the most competitive pricing in the industry.

Global reach and local expertise across 135+ countries: 

With a network of 150+ employees and collaborators worldwide, we have the global scale and local knowledge to support law firms wherever they do business.

Trusted by 70% of Fortune 500 companies: 

Our client roster speaks for itself. We’ve earned the trust of some of the world’s most successful and discerning businesses.

Actionable insights and strategic recommendations: 

We don’t just deliver data dumps. Our experienced analysts synthesize findings into clear, concise recommendations that help you make better decisions and drive real results.

Proven track record of driving sustainable growth for our clients: 

Across industries and geographies, we’ve helped businesses large and small achieve their growth objectives and stay ahead of the curve.

Commitment to delivering excellence and exceeding client expectations: 

Above all, we’re passionate about delivering exceptional service and value to every client we serve. Your success is our success.

FAQ – Legal Market Research

Q: What is legal market research, and why is it important for law firms?

Legal market research focuses on understand trends, competitors, client needs, and market changes in the legal industry. It helps make better decisions, find growth opportunities, stay ahead of competitors, and adjust their services to clients’ wants.

Q: How can legal market research help law firms grow?

Legal market research gives law firms the insights they need to make smart decisions. By learning about competitors, new practice areas, and what clients want, firms can improve their services, target new markets, and market themselves more effectively. 

Q: How often should a law firm do legal market research?

It depends on your firm’s goals and how quickly the market changes. But generally, law firms should do legal market research at least once a year. Regular updates are essential to stay ahead of trends and keep up with changes in the legal landscape.

Q: What tools can law firms use for legal market research?

Law firms can use many tools for market research, including surveys, interviews, competitive analysis, and data analytics software. They can also look at industry reports, legal news, and follow social media to stay informed. 

Q: Can smaller law firms benefit from legal market research?

Yes, smaller law firms can absolutely benefit from legal market research. They don’t need to gather all the data; they just need the right data to help them make smart decisions. 

Our Facility Location in New York

11 E 22nd Street, Floor 2, New York, NY 10010  T: +1(212) 505-6805

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About SIS International

SIS International offers Quantitative, Qualitative, and Strategy Research. We provide data, tools, strategies, reports, and insights for decision-making. We also conduct interviews, surveys, focus groups, and other Market Research methods and approaches. Contact us for your next Market Research project.

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