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Tag Archives: law firm business development

BTI Consulting: US legal market exceeds $100 billion

US legal market exceeds $100 billion

More than 600 people attended BTI Consulting’s webinar titled “BTI Market Outlook and Client Service Review” according to Michael B. Rynowecer, the consulting firm’s president and CEO.  Both the slides and a recording of the webinar are provided below.  It’s easy to understand why: the webinar, which ran about 90 minutes, was filled with metrics and data about the legal ... Read More »

5 Lessons from an Expert Webinar on Law Firm Marketing

What is the opportunity cost of law firm marketing and resource allocation? (Screenshot from webinar)

  Tim Corcoran and Chris Fritsch presented an excellent webinar in December titled ROI:  Reality or Illusion.  It’s a perfect segue into the New Year because the webinar is essentially a best practices guide for law firm marketing and business development – and the two presenters combined for the perfect blend of business and legal savvy. Both Tim and Chris have written extensively on ... Read More »

New Survey: Insight Into The State Of Law Firm CRM

Law-firm-CRM-investment

Note:  This post was originally published by Ted Seward. It is never sufficient to just have a CRM system; the real value comes from use.  We recently completed a CRM survey that provides insight into the state of CRM in the legal market. The findings can be summed up by saying: you get back what you put into it. The ... Read More »

Law Firm CMO Opportunity: People Powered Advocacy

People-Powered-Advocacy

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? The low hanging fruit might be #1 and ... 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 »

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 »

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 »