We all know that business and business development will be different post-pandemic, and we are not sure how. This article discusses the trends that lawyers and firms should be tracking and how they should plan and execute when the future is murky.
Instead of sharing my insights, experience and opinions as a 20-year vet in legal public relations, I went directly to the source – the ALM Media editorial staff. Here is what they had to say about the impact of COVID-19 on the industry as a whole and what they want and expect from law firms and PR pros in 2021.
In the legal industry, transitioning to a culture of care poses more of a challenge to law firms than other businesses. What is needed now is for attorneys to seize the chance to reshape their profession and strengthen their position as leaders of our society.
With a new year and fresh outlook for the future, the time is ripe for legal technologists and innovators to take the delivery of legal services and client experience to the next level. One key is recognizing that successful innovation is equal parts mindset, method and message.
What kinds of firms are best positioned to provide superior value to clients and why this is such a critical consideration in the current economic climate.
Law firms are increasingly adding new staff members and software to calculate their profitability, helping firms determine partner compensation and make other business decisions.
As alternative legal service providers (ALSPs) continue to take root with significant growth across the legal world, law firms have to consider how these niche companies affect their bottom line and how to react to this burgeoning parallel industry.
Firms must be cautious as they re-examine budget priorities to not underestimate the harm that can be caused by failing to consider the long-range damage that can be done to a firm's brand by cutting back too much on their marketing efforts.
The game has changed substantially for law firms today — the evolution of the legal business model is underway and artificial intelligence (AI) is playing a big role in calling time on the billable hour.
As we enter 2021, we should expect the needs of business and society to continue colliding. But if law firms prepare for those collisions, they can drive better outcomes.
