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It is widely recognized that Big Law has surplus partner capacity. What is less well recognized is just how massive this surplus has become, how unevenly it is spread across firms in different profitability cohorts, and what it portends for when the next downturn hits.
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As firms turn their focus to revenue generation, some of the more progressive firms look to their clients to help them create their strategic priorities. In some cases, they even ask their clients to be involved in the planning process.
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A look at a recent group coaching initiative at a major law firm. Having had success with group coaching in the past, the CMO established a six-month pilot program and chose eight attorneys to participate. Here's what happened.
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In every issue of <i>Marketing the Law Firm</i>, we read about best practices and new trends. However, not even that prepared us for this year's LSSO (Legal Sales and Service Organization Inc.) Legal Sales and Service Awards winners — specifically, the long-term success established in a short amount of time at two law firms.
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<b><i>The Impact of What We Do as Marketers and Lawyers</b></i><p>Sometimes the legal profession can seem to be too much about money and the chase thereof. So, maybe it is time to talk more about the human impact of what we do — we almost never talk about what could arguably be the most important aspect of our professional lives: How what we do as professionals impacts the lives of real people, in meaningful ways.
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At the ALA annual conference in Denver, I was speaking on how law firms could provide better administrative support for their attorneys and how alternative strategies were being deployed by some law firms to achieve those goals. After my session, the discussion continued with a group of participants and the hat trick metaphor was born.
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"Data Science" and "Artificial Intelligence" are terms being thrown around in every field, including legal. But what are they? Why are they generating so much excitement these days? There are many definitions out there, but Data Science is really just statistics of the real world, including business and customer data. The question is how do you get the right statistics?
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<b><i>Law Firm Marketing Teams Need to Adapt!</b></i><p>For the most part, law firms continue to structure themselves in a traditional operating and employment models with a dedicated workforce of talent arranged in an organizational hierarchy. In today's Gig Economy, however, this will unlikely hold. Here's why.
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<i><b>The Case for Value Billing</i></b><p>Alternative fee arrangements (AFAs) are about value, a benefit legal departments are increasingly pressured to bring to their companies. When hiring an outside lawyer, clients are not looking for "hours," and they certainly are not looking for tenths of hours. They seek value.
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This article offers a case for legal marketers to consider when strategizing how to best support their lawyer clients on a level that they are personally unable to do on their own, given the many diverse demands within a busy marketing department.