Date: April 12, 2013 Topic: The Shrinking ... - Georgetown Law

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50 40 30 20 10 0 Quarterly Revenues (in millions) The company remains focused on transforming the small business and consumer legal services market by leveraging the power of technology and people. Today, LegalZoom’s services include a portfolio of interactive legal documents that are personalized by customers through dynamic online processes, as well as subscription legal plans and registered agent services. For small businesses and consumers who want legal advice, LegalZoom’s subscription legal plans connect customers with experienced attorneys who participate in a legal plan network. In order to continue this type of expansion over the last 12 years, LegalZoom has focused a great deal of effort on two areas: exceptional customer experience and building a leading brand. A. Exceptional customer experience. Nearly every LegalZoom customer is asked one question following his or her purchase: “How likely are you to recommend LegalZoom.com to a friend or colleague?” This question is intended to measure customer loyalty by facilitating the tracking of net promoters – the percentage of customers who are promoters of a brand or company minus the percentage who are detractors 82 . The number is important as loyalty drives revenues both from repeat customers and from new customers who were referred to a company. The net promoter score has been shown to serve as a very good indicator of customer loyalty and predictor of growth. For a striking example of this, see the chart below which shows 3-year growth of several airlines on the Y-axis against net promoter score of those same companies on the X-axis. 82 For a thorough discussion of Net Promoter Score and loyalty, see Reichheld, Frederick, The One Number You Need to Grow, Harvard Business Review, 2003. To calculate net promoter score, calculate the percentage of customers who respond with nine or ten (promoters) and the percentage that respond with zero through six (detractors). Subtract the percentage of detractors from the percentage of promoters to arrive at your net promoter score. 18
While net promoter score is not a perfect indicator and is not appropriate for all industries, it does provide a simple and fairly accurate measure of customer loyalty when applied appropriately. Because LegalZoom recognizes the importance of this type of loyalty in the online legal service business, customer satisfaction has been a primary focus of the company for years and the company has provided an exceptional customer experience through a variety of strategies. For example, customer care is central to LegalZoom’s culture and employees are highly focused on providing exceptional customer experiences. Even in the early days as a legal document provider, LegalZoom provided live customer care representatives who focused on resolving customer issues. LegalZoom has put its money where its mouth is regarding customer experience by maintaining a satisfaction guarantee for its offerings. If a customer is not completely satisfied with services received for any reason, LegalZoom will attempt to correct the situation, or provide a refund or credit. Approaches such as these have not gone unnoticed by LegalZoom’s customers. While LegalZoom does not publicize its net promoter score, in 2011, nine out of ten of the approximately 34,000 customers who responded to a LegalZoom survey said they would recommend the company to their friends and family. B. Leading Brand. LegalZoom recognized early on that building a trusted brand would be critical for a company providing legal documents online. The credibility of the documents is extremely important for any company in the space. That is why LegalZoom co-founders Brian Lee and Brian Liu approached Robert Shapiro with an offer to join as a co-founder in the very early days of the company. Since that time, LegalZoom has continued to focus on building a trusted brand through use of talk radio, pod casts, television commercial using real LegalZoom customers and innovative social media initiatives such as Free Joe Friday (a free legal Q&A session on Facebook with Joe Escalante; an attorney and host of the syndicated entertainment legal advice radio call-in program “Barely Legal Radio.”). As a result of these efforts, LegalZoom has become the leading, nationally recognized legal brand for small businesses and consumers in the United States; with 60% aided brand awareness based on a survey conducted using United Sample, Inc. in January 2012 84 . 83 83 Reichheld, Frederick, The One Number You Need to Grow, Harvard Business Review, 200 84 LegalZoom.com, Inc. S1 19
Page 1 and 2: Date: April 12, 2013 Topic: The Shr
Page 4 and 5: PROGRAM AGENDA & ROOM LOCATIONS The
Page 6 and 7: Things to do in Washington, D.C. Wa
Page 9 and 10: The Shrinking Pyramid: Implications
Page 11 and 12: III
Page 13 and 14: DRAFT IN PROGRESS—PLEASE DO NOT C
Page 15 and 16: legal services based upon data aggr
Page 17 and 18: on a consistent, sustained basis. T
Page 19 and 20: the marketing concept or market(ing
Page 21 and 22: Technology and online access democr
Page 23 and 24: portion of their curated informatio
Page 25 and 26: in the United States and Britain, a
Page 27 and 28: whether some activities traditional
Page 29: Without the necessary systems or pr
Page 33 and 34: Today, LegalZoom offers a broad por
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Page 39 and 40: experience, skills and competencies
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Page 47 and 48: These are exciting times for those
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Page 51 and 52: Before turning to our main quantita
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Page 55 and 56: Independent variables Technology us
Page 57 and 58: Our research reconciles these two d
Page 59 and 60: REFERENCES Alavi, M., Leidner, D. E
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Page 63 and 64: Table 2: Descriptive Statistics Var
Page 65: Table 4: Results of Individual Fixe
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Page 71 and 72: 1 DECONSTRUCTING BIG LAW The Future
Page 73 and 74: The Stanford Law School Research Pr
Page 75 and 76: 2011 General Counsel with Power
Page 77 and 78: Executive Summary of Key Findin
Page 79 and 80: General Counsel with Power? 201
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General Counsel with Power? 201
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Resource Co-Specialization and Supp
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and from transferring best practice
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specialized tasks such as complex a
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In case studies of innovating firms
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knowledge. This translates into a r
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Law firms. In order to measure the
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services. The coefficient for selli
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study design and accounted explicit
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usiness benefits only if resource c
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Gulati R, Puranam P. 2006. Compleme
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Sako M. 2013. Professionals between
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Table 3. Panel data regression mode
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The Shrinking Pyramid: Implications
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Limiting the Damage of Lateral Part
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Date: April 12, 2013 Topic: The Shrinking ... - Georgetown Law

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