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WHAT WE’RE WATCHING
BUYER (AND SELLER) BEWARE - There has never before been such a plethora of legal technology options on the market. Whether or not that’s a good thing, however, depends on your perspective. The legal tech industry is exploding. But, as Law.com’s Frank Ready has covered extensively over the past several weeks, the influx of new players and products to the market has made purchasing a complicated process rife with potential pitfalls. Meanwhile, legal tech vendors are fighting to stand out in a rapidly growing crowd of competitors, often employing aggressive marketing techniques that have proven effective in other industries but that tend to rankle legal industry buyers and leave salespeople frustrated. In this week’s Law.com Trendspotter column, we’ll look at the challenges both purchasers and vendors are facing in an incredibly cutthroat market, as well as some best practices for overcoming those obstacles. I’m interested to hear your thoughts: What are some of the biggest challenges to selling legal tech solutions in this ultracompetitive environment? What are some of the biggest hurdles for purchasers? How can buyers and vendors overcome these issues? Let me know at [email protected].