When working with clients we appreciate that there is strong competition in the Internet search market, with the value of search continuing to increase. Given that much legal business can be won through having optimised online presence, this inevitably means that law firms are finding it more challenging to rank well for the most profitable keywords.

Therefore, unless law firms continue to have a strong online marketing partner or, indeed, marketing partners, they could be losing out on valuable legal business. A recent McKinsey study, The impact of Internet technologies: Search explains and examines the phenomenon of Internet search and its rising value. Some of the key findings include:

• Using country-level analysis as a base, it is estimated that the total gross value of Internet search across the global economy was $780 billion (£494 billion) in 2009. By this estimate, each search is worth about $0.50 (£0.32). Among retailers, the value of search in 2009 equalled 2 percent of total annual revenues in developed nations and 1 percent in developing ones. That value stemmed directly from online shopping, as well as from online research that led to an in-store sale. US retailers saw as much as $67 billion (£42.4 billion) in search-related revenues.

• In the five countries studied, knowledge workers experienced search-related productivity gains of up to $117 billion (£74 billion), flowing from faster and more accurate access to information.

• There are new emerging sources of search-related value. These include the rise of use of “long tail” keywords as a search technique to help consumers access ever-narrower product or service segments. Another is new business models, such as those keyed to the needs of consumers who search via mobile devices.

At Moore Legal Technology, we appreciate the challenges faced by law firms and understand the online search market as it applies to the legal profession. Contact us today on 0845 620 5664 or complete our online enquiry form to discuss how we can help you.