Case Study: How Benesch Drilled Down

Editor's note: When Benesch sent us this story in conjunction with its winning entry in the MLF 50, we asked its Marketing Department to explain how they thought outside the box ' and came up with such a unique marketing endeavor. Here is their response.

As the nation is striving to achieve energy independence, one of the fastest-growing energy sources will be Utica Shale, an Ohio shale deposit believed to be unusually rich in natural gas, oil and natural-gas liquids. Eastern Ohio, home to Benesch headquarters, is conservatively estimated to have the country's fourth largest shale deposits representing the potential for creating more than 200,000 jobs directly or indirectly supported by Utica Shale leasing, exploration, drilling and pipeline construction.

How often do opportunities like this come around to any service firm? Building on the deep-rooted strength of Benesch's Energy Practice Group, the firm formed a cross-functional team of corporate, public and private finance, transportation and logistics, regulatory, environmental, real estate, public law and construction attorneys to form the Shale Oil & Gas Industry Team. At the same time, and as part of this effort, the Marketing Department engaged a business consulting firm to test the opportunity to determine if it was worth allocating time and firm resources, and to build the strongest business case going forward. We wanted to ensure that we had a solid foundation and certain opportunities before developing a practice in this area. The consulting firm delivered a report, with additional research and resources from our Marketing Department, from which the green light was given to build our strategy and business plan.

Building on the Shale Boom

The Marketing Department capitalized on this opportunity to market the firm's capabilities to a large number of businesses affected by the shale boom. By aligning our attorneys from various practice areas with clients in different industries that have, or will be, affected, we are helping navigate the complexities and exploit the potential of the Utica Shale in the following areas: 1) Real Estate; 2) Environmental; 3) Transportation & Logistics; 4) Public Finance; 5) Public Law; 6) Private Equity; 7) Corporate; and 8) Construction.

One of our first steps was to tap the expertise of a market intelligence agency to manage the flood of information about the industry. Our intent was to use the information to cultivate stronger end-client relationships by providing our clients with a steady flow of news and information as it relates to Utica Shale. Using keywords, the agency filters news about the industry and provides briefings in a private newsroom from which we send updates and industry reports to our clients and contacts. We also created a twitter handle (@ohioshaleupdate) to report daily updates about the industry and, most recently, launched a blog (www.ohioshaleupdate.com) to which we post regularly on topical issues, such as regulatory changes or how regional banks are mobilizing teams to attract shale sector business. Clients are thrilled with the timeliness of Benesch's information as well as the firm's ability to personalize the news they need.

Raising the Firm's Profile

To raise our public profile, Benesch worked with a PR firm specializing in the shale industry to assist in showcasing the firm as a thought leader via speaking opportunities, sponsorships, studies and published pieces. For example, in the last quarter of 2012, we conducted a survey of National Tank Truck Carriers (NTTC) and Ohio Trucking Association (OTA) members to determine how the shale boom is affecting the transportation/logistics industry. The marketing value of such a study is multi-dimensional and carries far greater value than simply advertising. When the associations share the survey findings among thousands of its members or Benesch shares the report among clients and prospects, we are heightening awareness of the firm as a thought leader in the transportation industry. We plan to publish the results and replicate the survey among other industries with interests relevant to shale oil and gas. We've also helped our attorneys to secure speaking spots at various related industry conferences and conventions.

Repurposing the Results

With information consistently flowing from the firm's consultants and various news sources, our Marketing Department needed to synchronize and create a methodology for sharing information. We created an internal site to which all parties and the firm participants have access. This alleviated the flood of e-mails and averted redundancies, thereby making the operation and all communications more efficient and cost-effective. We use the site to post all activities in which the firm is engaged such as sponsorships, events, presentations, industry reports and competitor activities and events. Internally, we track opportunities, pipelines and ROI.

Conclusion

Since the launch of our “Shale Initiative,” the firm has generated a dozen new clients, each contributing mightily to the firm's revenue. By carefully building a business case before launching our marketing initiative and optimizing consultant output, the Benesch Marketing Department now serves our clients and prospects with far greater effectiveness and precision. We are aligning with relevant industry partners, building an ever-increasing thought leadership platform and positioning the firm for greatest growth impact. It's been an “energizing” effort, to say the least, and an opportunity to work with almost every practice area of the firm.

Editor's note: When Benesch sent us this story in conjunction with its winning entry in the MLF 50, we asked its Marketing Department to explain how they thought outside the box ' and came up with such a unique marketing endeavor. Here is their response.

As the nation is striving to achieve energy independence, one of the fastest-growing energy sources will be Utica Shale, an Ohio shale deposit believed to be unusually rich in natural gas, oil and natural-gas liquids. Eastern Ohio, home to Benesch headquarters, is conservatively estimated to have the country's fourth largest shale deposits representing the potential for creating more than 200,000 jobs directly or indirectly supported by Utica Shale leasing, exploration, drilling and pipeline construction.

How often do opportunities like this come around to any service firm? Building on the deep-rooted strength of Benesch's Energy Practice Group, the firm formed a cross-functional team of corporate, public and private finance, transportation and logistics, regulatory, environmental, real estate, public law and construction attorneys to form the Shale Oil & Gas Industry Team. At the same time, and as part of this effort, the Marketing Department engaged a business consulting firm to test the opportunity to determine if it was worth allocating time and firm resources, and to build the strongest business case going forward. We wanted to ensure that we had a solid foundation and certain opportunities before developing a practice in this area. The consulting firm delivered a report, with additional research and resources from our Marketing Department, from which the green light was given to build our strategy and business plan.

Building on the Shale Boom

The Marketing Department capitalized on this opportunity to market the firm's capabilities to a large number of businesses affected by the shale boom. By aligning our attorneys from various practice areas with clients in different industries that have, or will be, affected, we are helping navigate the complexities and exploit the potential of the Utica Shale in the following areas: 1) Real Estate; 2) Environmental; 3) Transportation & Logistics; 4) Public Finance; 5) Public Law; 6) Private Equity; 7) Corporate; and 8) Construction.

One of our first steps was to tap the expertise of a market intelligence agency to manage the flood of information about the industry. Our intent was to use the information to cultivate stronger end-client relationships by providing our clients with a steady flow of news and information as it relates to Utica Shale. Using keywords, the agency filters news about the industry and provides briefings in a private newsroom from which we send updates and industry reports to our clients and contacts. We also created a twitter handle (@ohioshaleupdate) to report daily updates about the industry and, most recently, launched a blog (www.ohioshaleupdate.com) to which we post regularly on topical issues, such as regulatory changes or how regional banks are mobilizing teams to attract shale sector business. Clients are thrilled with the timeliness of Benesch's information as well as the firm's ability to personalize the news they need.

Raising the Firm's Profile

To raise our public profile, Benesch worked with a PR firm specializing in the shale industry to assist in showcasing the firm as a thought leader via speaking opportunities, sponsorships, studies and published pieces. For example, in the last quarter of 2012, we conducted a survey of National Tank Truck Carriers (NTTC) and Ohio Trucking Association (OTA) members to determine how the shale boom is affecting the transportation/logistics industry. The marketing value of such a study is multi-dimensional and carries far greater value than simply advertising. When the associations share the survey findings among thousands of its members or Benesch shares the report among clients and prospects, we are heightening awareness of the firm as a thought leader in the transportation industry. We plan to publish the results and replicate the survey among other industries with interests relevant to shale oil and gas. We've also helped our attorneys to secure speaking spots at various related industry conferences and conventions.

Repurposing the Results

With information consistently flowing from the firm's consultants and various news sources, our Marketing Department needed to synchronize and create a methodology for sharing information. We created an internal site to which all parties and the firm participants have access. This alleviated the flood of e-mails and averted redundancies, thereby making the operation and all communications more efficient and cost-effective. We use the site to post all activities in which the firm is engaged such as sponsorships, events, presentations, industry reports and competitor activities and events. Internally, we track opportunities, pipelines and ROI.

Conclusion

Since the launch of our “Shale Initiative,” the firm has generated a dozen new clients, each contributing mightily to the firm's revenue. By carefully building a business case before launching our marketing initiative and optimizing consultant output, the Benesch Marketing Department now serves our clients and prospects with far greater effectiveness and precision. We are aligning with relevant industry partners, building an ever-increasing thought leadership platform and positioning the firm for greatest growth impact. It's been an “energizing” effort, to say the least, and an opportunity to work with almost every practice area of the firm.