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The year 2020 will go down in history as one of the worst in terms of its impact on law firm marketing and business development budgets. The end of Q3 2020 saw the average marketing budget decline by 33.2% on a year-over-year rolling 12-month basis, according to Thomson Reuters Peer Monitor. That translated into nearly $3,000 less per lawyer FTE than in the same quarter one year prior.
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By Catherine Alman MacDonagh and Frederick J. Esposito Jr.
Law firms must continuously review business and legal processes to operate and interact with less waste and costs and develop pricing models that address client needs while generating profits for the law firm. This is actually simple, but not easy to do.
By J. Mark Santiago
Planning for the downturn in a clear, methodical way by investing the existing good fortune that most firms enjoy into strengthening your technical infrastructure, trimming expenses, and rethinking how administrative services are delivered to the attorneys.
By Dean Whalen
In the court reporting market, technology has matured to match or exceed stenography’s stronghold on speed and accuracy and, as such, is poised to disrupt the market.
By Kristen Dallman
In this marketplace, one thing is abundantly clear: To remain competitive, you must adapt. So how can you adapt in a way that meets the increased expectations of today’s client? Focus on client experience.