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3 Steps To A Better Budgeting Process For Law Firm Marketers

steps-to-better-decision-making

Note:  this post was originally written by Angela Petros.  It is that dreaded time of the year again when law firm CMOs are asked to come up with their budgets for next year.  How to avoid getting caught in the trap of having your budget automatically set at what it was this year or worse because of cost pressures, last year’s budget less ... Read More »

Law Firm CMO Opportunity: People Powered Advocacy

People-Powered-Advocacy

Note:  this post was originally written by Angela Petros.  Russ Fradin, CEO Dynamic Signal recently presented B2B Marketing Trends to Watch at the Brand Innovators B2B summit in NYC.   His top 5 were: Employee advocacy and social selling Content Marketing Mobile and consumerization Big Data Agile Marketing It got me thinking, what are the opportunities for CMOs at Law Firms to leverage these trends? ... Read More »

Corporate Philanthropy: More than Writing a Check

LexisNexis-Cares

Few charitable causes would turn down an ethical donation from a corporation.  Every charity is strapped for cash, and there’s always something more that can be done. Corporations, too, can be very generous with donations. And to be clear, those that do give to charity deserve every bit of goodwill they might generate in exchange. Money buys things; money makes things happen, ... Read More »

The “Gamification” of Law Firm Business Development

gamification-of-business-development

One of the most substantial challenges to law firm business development and CRM we hear is getting busy attorneys to use the system. There was a solid CRM session at ILTA that focused precisely on this topic. This isn’t a new question, but the framework around the question today is evolving: the economics of law are driving change; the business ... Read More »

38 Posts Summarizing the ILTA Conference

One view inside Caesar’s Palace where the ILTA Conference was held.

One view inside Caesar’s Palace where the ILTA Conference was held. Last week was a whirlwind of goodness – stemming from ILTA’s 36th Annual Educational Conference held in Las Vegas.  There were several key note presentations to stir the mind, ample sessions packed with information and statistics daily, and networking ongoing throughout the conference. All in all, the conference earned ... Read More »

Four Reasons Why Alternative Fees are here to Stay

As we can see from search trends, AFAs spiked dramatically in 2008 and have remained high.

As we can see from search trends, AFAs spiked dramatically in 2008 and have remained high. When Law Technology News Editor-in-Chief Monica Bay took the stage at ILTA to run a Q&A following Tuesday’s key note presentation she made a reference to alternative fee arrangements: She’s been forecasting the rise of AFAs for 15 years and while AFAs are certainly ... Read More »

7 Amazing Statistics for Law Firm Business Development

law firm business development

Sizing up the legal market, from a law firm business development perspective. The graphic nearby puts the legal market into one powerful perspective: customer relationships matter. Consider the following statistics: 1. Buyer’s market. 33 percent of clients have dropped at least one law firm in the last year, or the average in-house counsel terminates two long-term firms every year. 2. ... Read More »

Five Quick Takes from the Survey of Law Firm Economics

Five-Quick-Takes-from-the-Survey-of-Law-Firm-Economics1

After a week of stories about “big law is dying” the continuation of that news angle was somewhat blunted today with the announcement of the 2013 Survey of Law Firm Economics, which was first published in 1972. The study, conducted jointly by ALM and The National Law Journal, is a survey of 2012 economic figures and “contains information about nearly 10,000 lawyers from 159 U.S. law firms,” ... Read More »

Second Hundred Lateral Moves is a Wake Up Call for CRM

Second-Hundred-Lateral-Moves-is-a-Wake-Up-Call-for-CRM

The Am Law 200 has reportedly increased headcount and at the expense of the top tier law firms. Headcount was up 885 or about a 3% increase, versus a 0.8% increase in top tier firms.  There’s a business case for lateral hires: often they come with a book of clients. Under the current economic conditions, law firms have had two broad approaches for ... Read More »

Seven Essential AFA Articles Every Lawyer Should Read

AFAs, legal

So much of the conversation on alternative fee agreements (AFAs) only serves to stir confusion rather than clear it up.  From a business perspective, AFAs are nothing more than a pricing strategy, something both companies that provide products and services experiment with all the time. Think about it in the context of department stores: who is the target market and ... Read More »