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Accounting and Financial Planning for Law FirmsFeaturesLaw Firm FinancialsLaw Firm ManagementLaw Firm Marketing and Business Development

How Do Business Development Efforts In High-Performing Law Firms Differ?

By Meghan Frank
May 01, 2021

In 2020, law firms had to make a fast pivot on many levels. Business development (BD) and marketing strategies were at the forefront of that shift. Despite the inability to strengthen client relations and prospects in traditional ways via in-person meetings and events, firms recognized that it was vital for BD efforts to continue and succeed, particularly given the economic uncertainty caused by the COVID pandemic.

In fact, according to a 2020 Altman Weil survey, nearly 60% of firms are investing more in business development. Yet, according to the InterAction "2019 Law Firm Marketing & Business Development Report," fewer than half believe that their BD efforts are successful. So, what makes one firm's BD and marketing strategies succeed while others fall short — especially in the current environment?

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