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8 Legal Marketing Strategies that Work Now
If you think your business development efforts don't work, welcome to the club. Only 49% of law firms said their business development is successful, according to new research by LexisNexis InterAction.
What Is the Problem?
Lawyers are pursuing too many new business development opportunities, have a lack of focus, target prospects poorly, and fail to follow through.
Law firms also don't spend enough on business development. On average, firms spend only 2.1% of firm revenues on marketing, according to a 2019 Calibrate Legal survey. In contrast, high-growth firms spend 5% of annual revenues on their marketing budget, according to Hinge Research (defining high-growth law firms as those with 20% or greater annual growth in revenue).
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
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Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.