Law Firm Management

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?

A new comic gives marketing tips in a humorous format.

Networking has become extremely important for law firms, especially now that the legal business is growing more and more competitive. If your attorneys are not getting out there to stake claim to new relationships (and new matters), someone else will. Fortunately, attorneys and firm marketing professionals who are at the forefront of networking have developed innovative programs to assist attorneys in making a stranger into an acquaintance, an acquaintance into a prospect, and a prospect into a client. Ah ' the circle of life!

When we are hired to begin a new search, the very first thing we hear from our clients' mouths is 'Ideally, we would like someone with X years in law firm marketing.' If you analyze the AmLaw 100 law firms, which combined have more than 2000 marketing professionals, coupled with the fact that at any moment there are more than 100 open positions nationwide, there are more jobs than qualified professionals to meet these needs. So, how do employers find the 'right' talent for their firm in this competitive environment? How do the people with law firm marketing experience find the 'right' firm, since they are in high demand by every firm? Below we have outlined some tips for those who are hiring and those looking to be hired.

Not to be left behind, the legal community is actively engaged in the ever-expanding blogoshpere. With more than 1000 active legal blogs on the Web, firms and attorneys recognize the value of blogs as unique marketing and business development tools. However, for a blog to be beneficial, it must distinguish itself from the diluted market through creativity, consistency, and a strategic media plan.

In the old days, decisions made by executives and directors in the board room often were cloaked with a veil of legitimacy. Now, however, these decisions are under constant surveillance and scrutiny from outsiders and are even vulnerable to leaks from insiders. As executives and directors are thrust into the media and legal forefront, not only do they face potential personal liability for their decisions, but the corporations themselves face liability for their actions.