On the Job: In Large Marketing Operations, Think Small
Whether increases in staff and responsibility come through consolidation, market growth or merger, many law firm marketing departments are facing issues brought on by their larger size. The best advice in most situations is to 'think small.'
Research Notes
The BTI Consulting Group, Boston, MA just released the results of a new survey of law firm Chief Marketing Officers (CMOs). The results are based on telephone interviews conducted during the first quarter of 2003 with the CMOs of 62 AmLaw 200 firms.
Ask the Coach
This month's questions:<br>Q: Like many firms, we struggle with the ability to cross-sell our firm's services. How can we change lawyers' attitudes and beef up our cross-selling efforts?<br>Q: How can we stimulate more referrals from our sources?
Best Practices in Law Firm Marketing:Think Strategically and Tactically for Maximum Results
So, based on the advice given last month, you've developed a strategic, firm-wide plan and coupled it with strong research efforts. Your firm has adopted approaches that will help differentiate it, not merely through expertise, but also through client service, and you've placed attorney training and coaching at the top of your 'must-do' list. Now it's time to tackle some nagging concerns ' globalization and a flagging economy ' and to consider implementing new tactics (and adapting existing ones) to improve your client acquisition and retention efforts.
Is Your Firm Using Its Practice Groups To Maximum Advantage?
Practice groups are a common fixture in most mid- to large-sized law firms. Many firms use them in administrative or 'traffic cop' roles. However, marketers can use PGs to help market not only the attorneys within those groups, but the firm as a whole.
Insurance Company Insolvencies: A Primer for Corporate Policy Holders
The past several years have seen some major property-casualty insurance companies on the ropes and worse, far worse. Home Indemnity Company and Legion Insurance Company, two notable insolvency casualties, have left their policyholders without the full protection paid for and required. Sadly, they pale in comparison to the train wreck that is Reliance Insurance Company. The demise of Reliance has had repercussions for insurance buyers and others all over. Once a fixture in the directors' and officers' ('D&O') liability insurance marketplace, among other insurance markets, Reliance is now well underway in the liquidation process, after a brief and unsuccessful attempt at 'rehabilitation.' The Reliance debacle has left policyholders scrambling to protect themselves while state insurance departments wrangle with one another in an attempt to snap up a share of the inadequate pool of assets left behind in the collapse of Reliance.
NEWS BRIEFS
Highlights of the latest franchising news from around the country.
Five Keys to Assessing Economic Damages
The proper assessment of economic damages, once liability is determined, is one of the most crucial elements of the legal process. In fact, even before a case ever enters the courtroom, an accurate estimate of economic loss may pave the way for a settlement, saving both sides time and expense.
E-Commerce Rising
What does a cash-register ka-ching sound like online? It's the tune of $45.6 billion. That's the estimated e-commerce sales ring-up for 2002, the U.S. Department of Commerce reported in February. The activity represented an estimated increase in total e-commerce revenues from 2001 to 2002 of 3.1%.
