Will writing: How to stand out in a crowded marketplace
The Will writing services market is growing.
The stability of the profession paired with the rise in consumer awareness of Wills has spurred a whole host of newcomers to enter the market, meaning more choice for prospective consumers.
However, with market growth comes competition – something which is often regarded as unfavourable to any business. As the number of Willwriters grows, surely client numbers will fall, not to mention that prices will have to be dropped to increase business…
Or will they?
Whilst competition is often seen as a negative, it doesn’t have to be viewed this way. As more businesses enter the market, it provides your practice with an opportunity to stand out and prove to consumers why they should choose your services over a competitor.
Similarly, a more crowded marketplace doesn’t mean that you have to reduce fees; instead, you just need to justify the cost to the consumer. Whether it’s respectively low or high, a prospective client will be much more likely to pay a high price if they believe that the quality of service they’re going to receive matches this.
How can you ensure that clients pick you over a competitor?
When looking for Will writing services, consumers will be looking for a practice that they can trust.
At a time when probate fraud is rarely out of the headlines, consumers tend to be much more cautious; they need to be reassured that their Willwriter is protecting their best interests.
Becoming a member of the IPW enables Willwriters to demonstrate this.
In addition to providing access to high-quality training and access to an exclusive network of professionals, becoming a member of the Institute of Professional Willwriters demonstrates that your practice has met the high requirements set out in our Code of Practice.
Once expertise in Wills and Estate Planning has been showed, members are not only able to benefit from the exclusive IPW logo, but also use the scheme’s Chartered Standards Trading Standards Institute logo.
This provides clients with the level of reassurance that they’re looking for, certifying that services have met high qualification criteria and that awareness of the industry is up-to-date.
Suitable for use on websites and marketing materials, the logo effectively communicates the quality of Will writing services whilst acknowledging the importance of meeting a certain standard in an industry which is unregulated.
To find out more about the benefits of being an IPW member, please click here.
This article was submitted to be published by the Institute of Professional Willwriters as part of their advertising agreement with the Institute of Professional Willwriters. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.