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May 24, 2010
First Look at "New Lexis:" Just Wait to Compare WestlawNext with "New Lexis" Because When a Company is in Second Place, It Tends to Try Harder
And it sounds like LexisNexis has learned a thing or two from TR Legal's WestlawNext marketing fiasco. Check out Toby Brown's Lexis Strikes Back: The New Lexis post for his brief review. Two snips about "New Lexis" from his post:
This product will come out in a phased roll-out starting in the Fall. The product will be rolled out by market segment and each iteration will be slightly different to meet the needs of that market segment. This obviously recognizes the fact that a 30 year old solo practitioner will have different practice needs than a BigLaw partner. Score one for Lexis.
The BIG question is always pricing. Although they couldn't give me numbers yet (understandable) they did say 'predictability' will be the theme. The team actual read Greg's Open Letter [to "New Lexis.com" - Learn from WestlawNext Mistakes] posted here on 3 Geeks. Just like law firm clients, lawyers don't like surprises when it comes to a bill. So their service will be priced on a subscription basis instead of per search.
No Need to Rush: Just Wait to Compare WestlawNext and "New Lexis." When you only have one-third of the very expensive online legal search market, a vendor tends to be more responsive to online legal information buyers and consumers needs. Obviously, it is too soon to say how much more responsive but we are moving beyond "tabs and sidebars" competition in world of WEXIS online. Taking into consideration LexisNexis' print pricing moderation during the current economy vis a vis TR Legal's bleed your print budget dry approach and WestlawNext's pricing for a service not fully ready for prime time yet (see, e.g., Harrington's review and TR Legal Vice President, WestlawNext Product Development, Mike Dahn's comment), it is well worth holding off on a WestlawNext license until institutional buyers can chck out "New Lexis" and evaluate both online search services at the same time. [JH]