Home » Tag Archives: law firm business development (page 2)

Tag Archives: law firm business development

Friday Share: 6 Considerations for Origination Credit in BD

Fostering Law Firm BD 6 Considerations for Origination Credit-header

There’s an old saying in management guru circles:  Pay for performance, promote for potential. Compensation models and incentive structures are among the most central issues in any business, let alone law firms.  A key challenge in the professional services model, absent a professional sales force, is how to incent business development (BD)? The matter is of critical current interest in ... Read More »

197 Ways Law Firm Marketing and BizDev are Different

197 Ways Law Firm Marketing and BD are Different

Upwards of 90% of legal marketing and business development (BD) professionals believe there is a distinction between “law firm marketing” and “law firm business development. That’s according to a recent survey of 400 legal professionals in the industry. More importantly, these two functions require different skillsets.  The data is interesting, but it doesn’t justly serve the passion that goes along ... Read More »

3 Studies Suggest Law Firm BD Heating Up With Competition

Trending Law Firm BD Heats Up With Competition

Business development is heating up in law firm circles. Market research firm BTI Consulting, known for its benchmark survey research, has called the climate a “Predator’s Paradise.”    More recently, the research firm spied opportunity by noting corporate counsel is shifting some work back to law firms – but only for “bet- the-company” litigation business.   Some of our own ... Read More »

New Study:  Emerging Story of Law Firm Business Development

New Study Law Firms Emphasize BD Ways and Means Vary

Competition among law firms is fierce. It’s so fierce that in a newly published survey of 400 law firm marketing and business development (BD) professionals, 52% said competition is the #1 barrier to law firm growth.  Law firms large and small were well represented in the survey: 1-50 attorneys:  18% 51-200 attorneys: 30% 201-500 attorneys: 24% 501+ attorneys: 28% As ... Read More »

Slow and Steady “Sales” Slips into the Law Firm Lexicon

Slow and Steady “Sales” Slips into the Law Firm Lexicon-head

Law firms are warming up to the idea of the bona fide sales professional, according to a new survey of 53 law firms conducted by the Legal Marketing Association (LMA) conducted in conjunction with ALM. In a Strategies Magazine article published online, authors Greg Fleischmann, Kevin Iredell and Kevin McMurdo say the survey supports “the emergence of sales as a ... Read More »

3 Pragmatic Ways to Gain Law Firm Partner Buy-In for CRM

3 Easy Ways to Gain Law Firm Partner Buy-In for CRM

Lots of law firms share contact information in databases, but that’s not necessarily using CRM effectively, according to a marketing technology panel at the 2015 ITLACON tradeshow (#ILTA057). Forget the acronyms and focus instead on a tool that helps law firms focus on key initiatives – like growing a business. That’s the core of the lessons we gleaned from a ... Read More »

LexisNexis InterAction Unveils Law Firm BD Module

LexisNexis-InterAction-Business-Edge-win-loss-blog

While $300 billion trade hands in the US legal industry every year, the market for law firms has never fully recovered from the recession that hit the US in 2008. While observers once thought demand for legal services was unshakable, the reality is corporations have become increasingly focused on value. Corporate attorneys, the center of the client universe for law ... Read More »

5 BizDev Actions to Take with Existing Law Firm Data

5 BizDev Actions to Take with Existing Law Firm Data

Note: The following is a post from contributor Carla Del Bove, who provides support to the business of law software product line within the LexisNexis software division. Law firms seeking to better understand clients, and the strength of client relationships, have an often overlooked source of data: their own. In a LexisNexis webinar on “Revenue Generating Relationships,” Toni Minick, says some of the law ... Read More »

7 Creative Ideas to Kick Start Collaborative Legal Conversations

7 Creative Ideas to Kick Start Collaborative Legal Conversations

Note:  The following is a guest post by Timothy B. Corcoran. As a management consultant who spends time with both law firms and law departments, I frequently feel like a marriage counselor or mediator who is constantly encouraging each side to better understand the other. Quite often, the laments and wish lists by in-house counsel and outside counsel are fundamentally ... Read More »

The Best Kept Secret to Getting More Work: Stuff Envelopes  

The Best Kept Secret to Getting More Work Stuff Envelopes

  Note:  This is a guest post by Derek Maine, marketing director with Teague Campbell Dennis & Gorham, LLP. As summer begins so too does the familiar conference circuit. Attorneys and legal marketers book the group rate across the country for industry association conferences and trade shows, looking to ‘increase their exposure,’ ‘know the industry,’ ‘network with key decision makers,’ ... Read More »