When competition for mind share and market share is fierce, how do you differentiate your firm to your clients? This year’s Legal Sales & Services Organization (LSSO) event, held last month in Chicago, tried to address the challenge of how law firms can create value. I had the opportunity to meet with one of LSSO’s co-founders, Beth Cuzzone, to discuss ... Read More »
Altman Weil’s recent 2014 Law Firms in Transition survey reminds us that many firms see the pace of change accelerating with clients as the catalyst. 34% of law firm leaders identified corporate law departments as the force most likely to lead change; 32% chose technology innovation; and, 15% selected non-law-firm providers of legal services. Only 10% of respondents believe that ... Read More »
“Corporate counsel drop 7 firms from their law firm rosters,” emphasizes BTI Consulting Group in its just released report on Corporate Counsel Management Strategies. And the news gets more challenging: “Overall legal budgets remain relatively flat and any increases seen are going straight to internal resources.” Add to client pressure on billing rates, which may have been frozen or even ... Read More »
Business development is synonymous with building, sustaining and managing productive business relationship – one person at a time. I like Bruce Alltop’s view from his January 2014 blog post Law Firm Marketing: Business Development is Relationship Development. In it Bruce reminds us “relationships trump everything”: “Since business development is more of an art than a science, few rules exist that ... Read More »
Social media is taking the business world by storm. Some industries are embracing digital communications with open arms while others are approaching them in a slower, more calculated fashion. The legal industry tends to fall into the latter group. As I look ahead to the next 12 to 18 months, I believe social media will begin to have a more ... Read More »
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