Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
'Competitive Intelligence:' CI Is Another Tool in Marketing's Arsenal for Practice Group Planning
It's the budgeting and planning time of year. And, if the legal industry literature is anything to go by, strategies are in for law firms. A well-defined and well-communicated strategy provides a tangible way for law firms to identify their strengths and differentiators. Once firms have determined their identity and how they want to communicate that to the market, practice and industry groups create business development plans around executing that strategy. This usually includes reviewing client targets (existing and potential), evaluating events and sponsorships to determine which ones gain most exposure, and looking for new opportunities to showcase firm expertise. Marketers are well aware of this fact and have been working with practice and industry groups toward this end-goal for a long time. The emergence of competitive intelligence (CI) functions in law firms provides marketers and business development professionals with another arsenal in their toolkit.
Below are three ways CI professionals can help advance your strategic initiatives:
- Include them in key meetings.
- Practice group plan support.
- Individual plan implementation.
Include Your CI Professional
We've talked before about the value of relationships. Relationships = visibility. Inviting the CI professional to participate in practice or industry groups helps them get to know the lawyers involved and understand the group's priorities. Include them on group emails, invite them to meetings, introduce them to practice group leadership. By doing this, you will not only provide a united front from the marketing team, but you'll provide the lawyers with a go-to resource for knowledge building.
As the group works more with CI and understands the intelligence outputs available, a level of trust is built and information between the two flows more freely. The intelligence report will be much richer when the CI professional understands the underlying drivers of a request and the purpose of the report. They can respond appropriately within context — is this an initial request, a deeper dive, is it as the result of a client referral, etc. The output of the intelligence can also be adapted, according to the objective.
The High Level Value of Having CI Involved with Practice Plans
The CI professional provides various support to practice groups in the planning stage.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
Hyperlinked Documents: The Latest e-Discovery Challenge
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing, and reviewing these documents in real-world cases.
Identifying Your Practice's Differentiator
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.