Being one of a client's go-to law firms used to be a pretty secure situation. But gone are the days of lifelong client loyalties. In fact, disloyalty is increasingly the norm according to the BTI Consulting Group's latest survey of clients ' a situation that creates challenges and opportunities for savvy firms.
A young, dynamic partner is rapidly building a practice. She is active, visible, and well connected in the market. She aggressively pursues business opportunities. She is known for her keen intellect, is highly respected, and her work is first rate. Clients regularly comment on her ability to seamlessly blend pragmatic legal and business advice that advances their agendas in very positive ways. Other firms have periodically made runs at her beginning around her mid- to-senior associate years, but she began her career here and feels much attached to the firm.
What do inside counsel say about law firms? And are you one of the firms described as "dumb" or "spoiled" or "dull" or worse?
Buyers of legal services often hold attitudes unsuspected by law firms. These are often based upon needs which are unexployed by law firms. This article looks at the pressures GC's are under.
Companies expect their general counsel to pay attention to all the little details, but some legal chiefs have fallen behind in keeping their own affairs in order. A survey by The Corporate Counselor's ALM sibling magazine, Corporate Counsel, of the Fortune 250 found eight GCs who are not properly licensed in the state in which they work.
Ever wonder how outside counsel is selected? Their decision making process is often complex, involving multiple concerns and pressures. Lawyers and marketing professionals need to identify what they are up against and how to improve the selection challenges. We will be focusing on these components for several weeks.
Numerous adjectives are used to describe the average law firm today — good, bad, or otherwise. But somehow I don't ever hear 'vibrant' on the list. Why?
As law firms grow in size, and expand geographically and across practice areas, the use of firm-wide profitability tools has become a business necessity. But understanding the urgency to adopt or update a profitability model doesn't guarantee its successful implementation.
Experts see social networks as the next wave of business opportunities to come from the Web ' opportunities that are being exploited by small startups and companies as large as The Coca-Cola Co.
Law firms don't sell cheese or perfume ' they sell expertise. So how does one provide prospective clients with a 'taste' or 'spray' of something so intangible? The same question could be asked concerning existing clients. Given the marketing axiom that it is more cost-effective to generate additional business from existing clients than to sign up new accounts, how does a firm cross-sell other areas of expertise to existing clients whose exposure to the firm has been limited thus far to a single practice area?
