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Confronting the Downturn: An InterAction Research Report

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You’re probably tired of hearing and reading about “these unprecedented times” and “how we are alone together” and #flattenthecurve—whatever turn of phrase is making its rounds now. Who knew a global pandemic could become so meme-worthy in such a short time? I’m feeling the pressure of unknowns—aren’t we all?—in both mundane and profound ways.

Still, those of us in the legal world know there’s no sitting back to wait and see. We have staff all over the world who continue to work diligently (and remotely) to create and maintain digital client resources for business continuity, craft service plans for 24/7 technical support, and hold virtual events to keep our InterAction users connected and well informed. For some, business has not only stayed steady, it’s grown, and we have kept in stride with fast changes and quick turns to accommodate our firms that need us.

Taking action in uncertain circumstances can seem risky, but as professionals with decisions to make and teams to lead, we understand that driving actions now that will ensure our continued success is more critical than ever.  My team understands how important business resilience is to our clients, so we started thinking about the many firms that have weathered years of ups and downs. How have other successful firms and legal departments handled extreme duress, economic downturns, and recessions? What steps did they take to mitigate risk, stem cash loss, and draft plans for recovery—and even develop their marketing strategies for future growth? What can we learn from them?

In the LexisNexis® InterAction® research report, Confronting the 2020 Downturn: Lessons Learned by Law Firm Marketing Professionals During Previous Economic Crises, we deep-dive into the crisis events that affected the global economy in years past. The report shines a light on the practical steps that law firm marketers took then, and how we can prepare for recovery now. Yes, even now … in these unprecedented times! (Sorry, I had to.)

It turns out that all of the crises had two things in common: They were painful, and they were temporary. So, there are lessons to be learned from the past to help us make key decisions for our future. The InterAction team studied articles published in the immediate aftermath of the crisis flash points. We interviewed a number of legal marketing experts who worked at Global 100 firms during those dark times and made it out the other side—stronger than ever. The report is ultimately one of hope, a takeaway of lessons learned from those who have gone before and how to put those lessons to use. The report will reveal how taking steps to ramp up your marketing initiatives now—to help your firm thrive later—just makes sense.

Read the free report and learn how adapting digital marketing tactics of successful firms will help your law firm seize the inevitable business opportunities that lie ahead.

DOWNLOAD FULL REPORT >

In addition, you’re invited to join us for the supporting live webinar, Confronting the 2020 Downturn: Lessons Learned from Legal Marketing, on Wednesday, June 10, 2020. I’ll be online with you to discuss the report findings and reveal up-to-date action items that we can all take now. Attendees will have a chance to talk about their own business concerns in light of current events, and how to visualize the next few months and years of prosperity with the right tools and technology. It may be hard to imagine right now but join me, so we can plot out the future in the footsteps of giants.

Webinar:

Confronting the 2020 Downturn: Lessons Learned from Legal Marketing
Wednesday, June 10, 2020
11 am ET | 4 pm GMT+1

Presenters:
Scott Wallingford, V.P. & General Manager, LexisNexis Software Solutions
Meghan Frank, Global Director of Marketing, LexisNexis Software Solutions

REGISTER NOW >

 

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About Scott Wallingford

Scott Wallingford
Scott Wallingford is the VP & General Manager of LexisNexis’ Law Firm Software Solutions business. A versatile global growth leader for software and technology businesses, he brings over 20 years’ experience in scaling nascent businesses and revitalizing mature ones. Scott’s career includes senior leadership positions in software, telecommunications and management consulting working across U.S., Europe and Asia. He holds a degree in electrical engineering from Northwestern University and an MBA in Finance from Duke University’s Fuqua School of Business.