How would you measure the success of LexisNexis's Lexis+ legal research platform?

Introduction

Measuring the success of LexisNexis's Lexis+ legal research platform requires a comprehensive approach that considers multiple stakeholders and the complex nature of legal research. To address this product success metrics challenge, I'll follow a structured framework covering core metrics, supporting indicators, and risk factors while considering all key stakeholders.

Step 1

Product Context

Lexis+ is LexisNexis's flagship legal research platform, designed to provide legal professionals with comprehensive access to case law, statutes, regulations, and secondary sources. Key stakeholders include:

1. Legal professionals (attorneys, paralegals)
2. Law firms and corporate legal departments
3. Law schools and academic institutions
4. Courts and government agencies
5. LexisNexis (revenue and market share)

The user flow typically involves:

1. Logging in to the platform
2. Conducting searches using natural language or Boolean operators
3. Reviewing search results and filtering as needed
4. Accessing and analyzing relevant documents
5. Saving, annotating, or exporting findings

Lexis+ fits into LexisNexis's broader strategy of maintaining its position as a leading provider of legal information services. It competes primarily with Westlaw (owned by Thomson Reuters) and newer entrants like Casetext and ROSS Intelligence.

In terms of product lifecycle, Lexis+ is in the growth stage, having been launched relatively recently (2020) as an evolution of the previous LexisNexis platform.