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ATTORNEY MARKETING IN THE CURRENT ECONOMY
May 19, 2009
ATTORNEY MARKETING IN THE CURRENT ECONOMY – There's a big theme underlying current legal business headlines. And the underlying question is can large firms ever again support the notorious salary structures and leverage strategies of the past?My own experience confirms that mid-and smaller law firms clearly sense a chance to really thrive in this environment. For corporate and agency clients meeting with legal sales teams, the big firm “safety sell” may be neutralized as clients learn from experience that their crown jewels are guarded equally well by top regional firms.
ATTORNEY MARKETING IN THE CURRENT ECONOMY – There's a big theme underlying current legal business headlines. And the underlying question is can large firms ever again support the notorious salary structures and leverage strategies of the past?My own experience confirms that mid-and smaller law firms clearly sense a chance to really thrive in this environment. For corporate and agency clients meeting with legal sales teams, the big firm “safety sell” may be neutralized as clients learn from experience that their crown jewels are guarded equally well by top regional firms.
Top 5 Strategies for Managing the End-of-Year Collections Frenzy
End of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.
The Self-Service Buyer Is On the Rise
Law firms and companies in the professional services space must recognize that clients are conducting extensive online research before making contact. Prospective buyers are no longer waiting for meetings with partners or business development professionals to understand the firm's offerings. Instead, they are seeking out information on their own, and they want to do it quickly and efficiently.
Should Large Law Firms Penalize RTO Rebels or Explore Alternatives?
Through a balanced approach that combines incentives with accountability, firms can navigate the complexities of returning to the office while maintaining productivity and morale.
Sink or Swim: The Evolving State of Law Firm Administrative Support
The paradigm of legal administrative support within law firms has undergone a remarkable transformation over the last decade. But this begs the question: are the changes to administrative support successful, and do law firms feel they are sufficiently prepared to meet future business needs?
Tax Treatment of Judgments and Settlements
Counsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.