Legal

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20 Sep: 3 Secrets to Legal Business Development with Joe Przybyla

The state of legal marketing and business development today is still evolving. Considering the fact that Chief Marketing Officers have only appeared in law firms over the past 15-20 years, it’s safe to say that marketing and business development is still relatively new to the legal world. But that doesn’t mean they can continue to ignore it. According to Joe Przybyla, Introhive’s new legal marketing expert and Regional Sales Director, it’s the greatest reason for law firms to embrace it—they are far behind the curve when it comes to attracting new business. And in a compressed marketplace where clients want…

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22 Aug: Law Firm Innovation Roundup: Design Thinking, Chatbots & More

Keeping your finger on the pulse of industry trends and innovations is essential to keeping your firm positioned for future success. Knowing how time-consuming it can be to slog through all the discussions out there, we’ve done the legwork for you. Here is a roundup of some of the freshest, inspiring ideas and resources published in recent days. 1. Improve Problem Solving with Design Thinking In a post on the International Legal Technology Association blog, Jason Dirkx outlines a proven approach to problem solving that is gaining traction in the legal profession: Design Thinking. This approach is well suited for addressing…

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16 Aug: Law Firms: It’s in the Data – You Must Innovate to Survive

It seems everywhere you turn, there’s talk about the legal industry undergoing radical change. Some trends end up being fly-by-night hype, while others usher in wholesale, long-term changes. The key is for firms to separate the hype from reality and respond accordingly. One terrific source for those purposes is the annual survey “Law Firms In Transition,” conducted by Altman Weil, a management consultancy that focuses solely on the legal profession. Now in its 9th year, the most recent survey of 386 firms (including 350 of the largest US firms) and 50% of the AmLaw 200 has surfaced some findings that…

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03 Aug: Terry M. Isner Shares Expert Advice on How Law Firms Can Succeed With Business Development

Business development is essential for any law firms with growth as a goal. One person who understands this well is Terry M. Isner is CEO and owner of Jaffe Associates, a multiple LMA Your Honor Award recipient and one of LawDragon’s “100 Legal Consultants You Need to Know.” Calling upon his vast experience crafting innovative approaches to law firm marketing and PR, he shares his advice on ways law firms can succeed with business development. 1. Why is sharing information critical to business development success? Terry: As children, we are taught that sharing is caring. It’s a lesson well learned and…

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01 Aug: Advance Your Law Firm’s Business Development with 14 Expert Tips

There’s no such thing as too much expert advice when it comes to succeeding with business development. But we know it can be tough finding the time to cull through all the sage wisdom out there. In this post, we did the legwork for you. Read on for guidance from industry leaders. 1. Understand the Role of Business Development “Make sure partners know the roles marketing and business development play – and that’s not recruiting clients for them. Business development is behind the scenes helping lawyers find opportunities and build relationships that win and maintain clients,” explains John Remsen, Jr.,…

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25 Jul: Don’t Get Fooled by a Higher Growth Rate: How Law Firms Can Drive Higher Revenue

It seems sensible to assume that firm growth translates into profitability. But it turns out that’s not necessarily the case as this infographic reveals. The infographic summarizes findings based on research by Thomson Reuters’ Legal Executive Institute and Peer Monitor. The research found that an aggressive growth rate can backfire. Consider these statistics. In 2015, the average law firm grew their rates by 2.7%. As of October 2016, firms that had grown their rates faster than the 2015 average saw their worked fees grow by an average of 2.4%. But the firms that experienced slower growth between 2015 and October 2016 saw their…

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18 Jul: 4 Strategies to Drive Law Firm Profitability in a Commoditized Marketplace

Legal services are being commoditized as corporate legal departments pressure law firms to deliver services at more predictable, lower prices. If they wish to remain profitable, law firms will have to reexamine how they do business, from the services they offer to the clients they serve. So say William Josten and Ian Turvill in their whitepaper, Reinventing the Law Firm Business Model: Making the Most of Business Development Opportunities and Driving Long-Term Growth. Josten and Turvill recommend four strategies to clarify legal business models that will ensure firm growth today and tomorrow: 1. Find your niche It’s no longer a…

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22 Jun: Law Firm Professional Development Advice from Dr. Sharon Meit Abrahams: 5 Secrets to Engage Partners in Business Development

When sales cycles in the legal profession can be as long as five years, it can be challenging to convince partners to participate in business development. But that’s no excuse to let this important activity slide, says Dr. Sharon Meit Abrahams, PhD, Director of Professional Development/Diversity & Inclusion, Foley & Lardner, and author of 100 Plus Pointers for the New Partner. Any law firm that wants to prosper in the midst of unprecedented challenges in today’s legal environment must make sure their partners take an active role in business development. Here are Dr. Abrahams thoughts on these issues and her…

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08 Jun: The Motivation For Law Firms To Adopt CRM

Lawyers have a reputation for being tech laggards. While some lawyers embrace tech-aversion as if it were some quirky idiosyncrasy, most are eager to adopt technology when the advantages are clear. Lawyers are paid to be discerning and trained to identify leverage, and when a law firm’s tech initiative does not align with its lawyers’ best interests, it is doomed from the start. This dynamic exists in other industries, but the legal sector is especially sensitive to it. This can be seen in customer relationship management (CRM) adoption. Most law firms have adopted a CRM system, but, in general, lawyers…

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19 Apr: 9 Experts Reveal Secrets to Win More Clients in Today’s Legal Marketplace

In March, we surveyed law firms throughout North America to find out what separates the most successful from the rest. We compiled the most important findings in our latest ebook, Playbook: Sharpen Your Law Firm’s Competitive Edge. It provides a snapshot of the state of today’s legal marketplace and pinpoints the greatest opportunity to bridge the marketing gaps that will make way for more clients. To help you take advantage of the insight revealed in the survey, we brought together some of the nation’s leading business development experts to respond to our findings: Heidi K. Gardner, PhD Author, Distinguished Fellow…