Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Back in April of this year when I started to think about announcing The Fifth-Anniversary MLF 50, I tossed and turned about whether, in these challenging times for law firms, there might be anything to talk about. I am happy to say that there is, and the great news is that what is going on in firms with active marketing and communications departments is quite remarkable. The big difference is that the programs being created and implemented are all tied to business development. Even in the branding corridors, business development is the catalyst and that's as it should be.
Yes, we all have been reading about the layoffs, the push-back dates on incoming classes of associates, and the administrative cuts. The good news here is that law firms have finally figured it out ' they are businesses and in order to prosper, they need to market themselves and communicate in a way that nurtures and protects their existing client base while constantly seeking out new business opportunities. While the billable hour has always been the business model for firms, it is now less about billable hours and more about keeping the existing clients happy and “bargaining” for new business. At long last, marketing and communications can take center stage and become the key indicator by which law firms can measure their success ratio.
Once again this year, many firms submitted detailed descriptions of their marketing, business development and communications programs. Some of the firms that are listed provided no information. As with past practice for those firms, research was conducted. It should be noted that while I would have liked to feature examples of the ad campaigns that some firms created, space does not permit me to do so.
Every firm that is on The Fifth-Anniversary MLF 50 is to be congratulated. This wasn't an easy year for marketing and communications. And yet, in spite of the challenges, there are at least 50 firms which have demonstrated that having a plan and implementing it can lead to spectacular results. Herewith the results of “The Fifth-Anniversary MLF 50 Top Five.”
NUMBER ONE: PROSKAUER ROSE
What can one say about Proskauer Rose except that now for the third year in a row, the firm is ranked number one? Proskauer continues to make incomparable strides on the business development front, building on its recent progress. Given the very challenging economic and psychological environment in which big firms are operating, there's no arguing that the creation of tangible business development opportunities and nurturing a dynamic biz-dev culture are supremely important. These are things Proskauer has done well over the years. Interestingly, however, the firm has taken a somewhat different ' even counterintuitive ' path over the last year. It's the kind of step a firm takes only when it is confident its marketing team has built an appropriate foundation for its efforts.
Proskauer's marketing and communications team, working closely with its IT Group, among others within the firm, and with various well-known outside agencies, has tackled a massive multi-tier effort designed to provide vital support to its biz-dev efforts: a top-to-bottom re-branding that includes the redevelopment of the firm's primary external communications channel (Proskauer.com), its primary internal communications channel (Proskauer Connect, its Intranet site), and an overhaul of all written and visual communications ' from bios to brochures to blogs. All elements of this project, literally hundreds and hundreds of them, are scheduled to launch simultaneously this month. The firm's goal is nothing short of establishing a completely new way of communicating externally with the market and internally among its lawyers and staff.
Proskauer, which brought in its first Chief Marketing Officer, Joe Calve, four years ago, focused initially on building the firm's business development infrastructure ' people and systems. The idea, in keeping with the strategy of the firm's chairman, Allen Fagin, and its COO, Arthur Gurwitz, was to build confidence in the business development (hereinafter referred to as “BD”) function as quickly as possible.
While Proskauer believed that is was clearly in need of an identity overhaul and new Web sites, those projects were put on the back burner. However, this year, with its BD footing solid, the firm is poised to engage the market with new messages and a new look that better reflect what it has become during its recent expansion. The strategic goal is to use the new branding and communications vehicles to accelerate the firm's BD efforts. Proskauer shared with MLF its new vision and its new Web presence. I have been given a sneak preview and let me say that while I am rarely impressed, what Proskauer has created is nothing short of brilliant. So stay tuned. A key element of the firm's efforts has been a focus on internal communications as a driver of BD. Working in conjunction with the firm's Business Development Committee, the communications and BD team have developed an array of practical approaches designed to support client development, including:
The BD Call-in Program, a live monthly call during which a partner or practice group discusses their work with lawyers who listen in and ask questions. The focus is on how to best present capabilities to existing and prospective clients with specific needs. Takeaways include message points embodied in e-mail communications lawyers can use to engage their contacts. The calls are recorded and cached so anyone can listen later on.
The firm has adopted a grassroots-style Cross-Office Sales Program that solicits highly specific ideas for cross-office client development from all partners and senior counsel, and tracks their progress in executing those ideas. For example, Partner A from Los Angeles says she believes she can cross-sell certain transactional services to Boston-based Partner B's investment funds client, who research shows has needs in the relevant areas. By openly sharing the results of the program, the firm has stimulated a high level of cross-selling activity that has contributed to broader and deeper client relationships.
The Business Development Committee hosts something called a Targeted Cross-Selling Meeting. This brings together leaders of a specific practice with a hand-picked group of relationship partners who have clients with profiles that make the most sense for that practice. The meeting includes substantial pre-work such that, by the time it is held, much progress has already been made on wedding capabilities with clients, which has led to successful outcomes.
The firm's re-branding includes the launch of a new Intranet site, which is designed with BD very much in mind. The site is primarily news oriented, with the focus on “news you can use” ' information lawyers can use to position the firm's services to appropriate clients and prospects. For example, the At-a-Glance Practice Descriptions on the site present, in an easy-to-scan format, key information and messages about the firm's practices that any lawyer can use in his or her BD efforts. This includes very specific messages about what differentiates this practice from those of competitors and examples of work across industries. The site also includes resources to assist lawyers in building the firm's business, including the BD Article of the Week, a reprint of an article with useful client development tips and techniques sent to all lawyers every Thursday courtesy of the Business Development Committee.
Finally, the firm engages in other educational efforts regarding BD to highlight what the firm does and to engage partners regarding tactics and approaches. These include the publication of regular Sales Bulletins by the firm's departments, which are e-mail newsletters showcasing new matters and how the firm landed them; an internal news service that reports on client successes on a daily basis; client development presentations to various groups of lawyers across the firm; and client matter “stories” delivered by the firm's chairman at each month's partner meeting.
Proskauer's strategy revolves around the development of “practice protocols,” which are business and operations plans aligned with the firm's budget through a rigorous annual process conducted by the BD team and Business Development Committee, working with the firm's department, practice and office leaders.
The firm tracks marketing and BD efforts both in terms of hard metrics (such as success rates on pitches and RFPs) and anecdotally (information about how a particular sponsorship helped position it in the marketplace). This information is maintained in its CRM system and used to make budgeting and planning decisions going forward.
The main change to the firm's staffing this year came with the addition of an internal communications director, which is another measure of Proskauer's commitment to communications in support of BD. Otherwise, the firm's staffing strategy was consistent with that of recent years: Build a strong and knowledgeable core of account executives and provide robust marketing and communications support across all areas.
The chair of the Business Development Committee sits on the Advisory Committee, which is a broad-based governance group that supports the seven-member Executive Committee. The business development budget is substantial and in line with industry standards.
Proskauer's re-branding includes a complete revamp of the firm's visual identity. No aspect of the firm's look and feel has been left untouched, from its name and logo to all electronic and print marketing and communications materials.
Proskauer embraces technology in support of BD, including adoption of a Marketing Center for pitches and Web support; continued development of its CRM system, InterAction; development of a proprietary database providing the BD staff with immediate access to firm financial information; the rollout of a new Business Intake and Conflicts system, which captures detailed information to support BD efforts; and widespread use of on-demand call-in technology, Webinars and blogs.
The marketing and communications team provides substantial support to the firm's recruiting, pro bono, diversity and community service initiatives. Proskauer has been proactive with its communications programs in these areas, including newsletters and reviews that showcase its many efforts to be a positive force in its communities.
NUMBER TWO: LOCKE LORD BISSELL & LIDDELL LLP
First appearing in the number 49 ranking on the 2006 MLF 50 listing as Lord Bissell & Brook, this year Locke Lord comes in at number two. The firm's entry was submitted by the Chair of the firm, Jerry K. Clements. What this says is that Ms. Clements understands the value of her firm's marketing and communications departments and is proud to support the strategy and its implementation.
In late 2007, Texas-based Locke Liddell & Sapp combined with Chicago-based Lord Bissell & Brook, becoming Locke Lord Bissell & Liddell. A year later, the firm revamped its communications and marketing efforts with specific goals and objectives to be more proactive, strategic, inclusive, responsive, cohesive and results-driven.
With a renewed focus on the firm's existing client base and an expanded movement to cross-market and collaborate among Locke Lord's practice areas, the firm's 2009 marketing strategy took a concentrated approach to help regroup and re-energize its attorneys during a time of unprecedented change. This included educating the firm's attorneys on the latest developments so the firm could communicate to its clients that it understood how these changes would affect their businesses.
The firm's Communications & Marketing (C&M) team overhauled Locke Lord's Top 200 client list to include detail that would benefit cross-selling efforts. They captured fees billed, fees received, the list of all working partners, the type of work performed, SIC industry codes, General Counsel contact information, and their own recommendations for cross-selling opportunities. This is continuously updated and circulated to the partnership, and reviewed at the practice and section levels to determine relationship intelligence and additional business opportunities.
The C&M team developed issue-specific client pieces to address changes in government as well as the economy. When the health care reform debate started to take center stage on Capitol Hill, the Health Care attorneys and C&M team developed a “Weekly Health Care Reform Update” newsletter for attorneys and clients. And when economic conditions sparked an increased number of federal bankruptcy filings, the C&M team developed a weekly “Distressed Asset Report” (DAR) listing companies that have recently filed for Chapter 11 bankruptcy and might be interested in selling off their assets. Attorneys are encouraged to forward this report to clients who might be interested in purchasing distressed assets, or who could be put in touch with the firm's team of Bankruptcy and Restructuring attorneys. Within the DAR's first month of publication, the firm's Bankruptcy Group was retained on several new matters after attorneys sent this to their clients.
The group also enhanced the firm's approach to proposals and pitches with the creation of tailored executive summaries that address upfront the needs of a specific client. To achieve a more effective presentation style, they overhauled the firm's proposal design. The number of client pitches has increased by 45% as a result.
The C&M team started to monitor ROI through a tracking system that charts all results and expenses associated with events, sponsorships, research, charitable contributions and media. The team follows a structured one-month, three-month, and six-month follow-up plan, where it requires attorneys to provide the firm with direct results (or lack thereof) from these efforts. This information is essential in the budgeting and approval of future initiatives. The team also created a marketing initiative approval form, which must be submitted prior to any project exceeding a certain dollar amount. Attorneys are required to outline costs, the perceived business benefits and the estimated ROI for the Marketing & Practice Development Committee's review and approval.
The C&M team members participate in a formal BD training program for new lateral hires. Based on the techniques learned in this process, the firm has implemented city initiatives in Atlanta, Austin, TX, and Los Angeles, each led by members of the C&M staff. As part of this, they have worked one-on-one with attorneys to develop personal marketing plans and to help develop niche practices. These smaller group settings have led to a more focused approach to targeting new business. By creating Web pages with information developed specifically for key clients and prospects instead of concentrating on the generalization of materials for mass communication and social networking, the C&M team used a more focused approach. A centralized location was created for customized materials specific to a targeted group of key clients and prospects' needs (essentially, a mini-Web site). Following BD meetings, they maintain communication by sending a link to these customized materials so the information the participants need is at their fingertips and they still have the option to visit the main Web site.
Like many firms, Locke Lord re-evaluated its advertising budget to examine the ROI and strategy to determine where and when they advertise. This past year, it focused on targeted placements that were practice-specific. In the realm of staffing, less than a year ago, Locke Lord combined its Communications and Marketing departments and reorganized the staff by capabilities rather than geographic location. The revamped department adopted a firm-centric approach instead of office-centric, where staff members work as a team across all offices to assist attorneys throughout the firm because of their abilities rather than where they are located.
The firm's Chief Communications & Marketing Officer, Julie Gilbert, took staff who were at the previously merged firms and created camaraderie and sharing of duties and skills. There are 18 people in Locke Lord's C&M Department. The reorganization included creating a Director of Business Development with a cross-office team that also works closely on projects with other members of the C&M team. The CMO reports directly to the firm Chair. Both the CMO and the Director of Business Development work regularly with the heads of the revamped and strengthened Marketing & Practice Development Committee in developing goals and agendas, encouraging strategic approaches on specific projects, and in continually coming up with new marketing and BD initiatives.
As part of the reorganization, a library researcher became a full-time member of the BD team. She leads all competitive intelligence research for attorneys and BD staffers in preparation for client meetings, proposals and new prospects. As a result, more than 70% of all formal RFPs and pitches sent out by the firm in the past ten months have included full background research on the company prior to responding to the client and/or prospect. A “S.W.O.T.” analysis and Nutshell Report, prepared by the firm's researcher, typically accompany these prep materials.
By thinking creatively, the team has saved the firm significant money in design and freelance fees. Additionally, they enlisted staff members to participate in a four-month BD coaching program designed for a group of lateral hires. This has allowed the firm to implement coaching techniques at various levels of the firm at no additional cost.
A Business Development Strategist was designated to lead the monitoring of the firm's RFP and Opportunities pipeline, to proactively find RFPs to which the firm should respond, and to closely track the win/loss ratio. With the help of a group of partners, the Business Development Strategist reviewed the “Stimulus Package” to identify entities that would receive funding, and in turn, be releasing RFPs for significant infrastructure projects. Since the reorganization, the C&M team's retention rate has improved tremendously, according to Ms. Clements.
Internal and external communications, particularly the value of inclusiveness and transparency, is extremely important at Locke Lord. Together, along with members of the C&M team, the firm is in constant communication with attorneys and staff, to clients, and to the media. The firm's media and public relations coordinator reports directly to the CMO and serves as an ex-officio member of the Business Development team.
An ongoing initiative is to proactively work with reporters in mainstream and trade publications to increase attorney exposure. Each time a client alert is sent out by one of the attorneys (this year, the C&M group has distributed more than 50 client alerts), the media coordinator routinely submits a short paragraph on the timely topic that he can pitch as an article to targeted publications. In addition, client alerts are sent to well-respected publications and outlets that may have been critical of the attorneys' practices, where they often are reprinted ' thus increasing the audience and ways the alerts are distributed, and increasing the firm brand. Many times, this has led to reporters calling the attorneys to be quoted on various subjects ' and positions the attorneys as leaders in their respective fields.
Given the unusual business environment of 2009, several of Locke Lord's key client service initiatives were revamped and relaunched to place greater emphasis on the firm's most valued business partner ' the client. These are in addition to the numerous newsletters, brochures, client alerts and articles that the firm distributes to its clients worldwide. They also revamped the client survey campaign for 2009 to be more proactive and personalized.
Instead of waiting to hear from attorneys about when to send a survey ' which typically had been at the conclusion of a large case or transaction ' the C&M team worked with the Accounting Department to design a monthly report showing when a client's billings had significantly climbed from the previous year, fallen off from previous years' numbers, or remained consistent with past work. The team then notifies the relationship partner of these numbers and, if appropriate, suggests that a survey be sent. Responses are tracked by the C&M team and circulated back to relationship partners so that client suggestions can be addressed and implemented in a timely fashion. These surveys have resulted in a valuable dialogue between clients and the firm.
With travel and conference budgets being cut at many of its client companies, Locke Lord designed a program to deliver quality in-house CLE programs directly to the clients, in their offices, about the topics that are most important to them. This introduced new areas of the firm to its existing client base, and positions the firm as a leader on issues unique to the client's needs.
The C&M team developed a report analyzing the top 30 client companies (not necessarily the firm's largest clients) that are best positioned to be cross-sold the firm's services or would benefit from a face-to-face meeting. The team compiles extensive research prior to these meetings so the client team is aware of their current issues and can speak to their needs and how Locke Lord plans to address them. The C&M team also prepares custom materials for the visit that are tailored to the group's talking points. These visits are a priority to the Executive Committee and its Chair.
NUMBER THREE: BENESCH, FRIEDLANDER, COPLAN & ARONOFF LLP
The only law firm that is not among the AmLaw 100 or Second Hundred firms in the top five is Benesch, Friedlander, Coplan & Aronoff. Impressive? You be the judge.
Benesch's marketing efforts are led by Chief Marketing Officer Jeanne M. Hammerstrom, Most of what Benesch has done is both innovative and rooted in BD. Benesch offers a series of video-casts called B-Casts. These videos spotlight the firm's attorneys as they are interviewed regarding current hot topics in clients' industries, and are set up like an interview with a partner as the host. The videos are available on the firm's Web site (www.beneschlaw.com/bcasts), and are sent out to targeted lists of clients via e-mail. B-casts provide viewers with a simple way to access informative mini-seminars. The firm is planning to launch the B-Casts on YouTube, and hopes to reach thousands of people who may not otherwise know where to obtain information from Benesch.
The firm has recently been utilizing new Webinar software that allows its attorneys to hold online presentations and seminars. These Webinars are a convenient way for clients to hear about the latest industry trends and legal topics without having to leave their offices. Participants have the option to ask live questions and have their questions answered immediately. Benesch advertises its Webinars via e-mail blasts, announcements on its Web site, and ads in local newspapers and business journals. So far, attendance has exceeded the firm's expectations with over 100 attendees at the first few Webinars. The video files from the Webinars are archived on the firm's Web site following the presentation, so that clients can have continued access to the information. Additionally, Benesch sends the video files as attachments to all participants after each Webinar.
Benesch is also using the Webinar software to conduct internal trainings for attorneys and staff, and plans to continue expanding the use of this software going forward.
As for its marketing strategy, the firm created an internal Competitive Intelligence/Market Intelligence (CI/MI) Team to perform research and analysis on clients, prospects, industries, competitors and the marketplace. As part of the firm's ongoing effort to create client-focused teams, the CI/MI Team is instrumental in helping its attorneys understand as much about clients and their businesses as possible. The research allows attorneys to better prepare for interviews with potential clients, and provides ideas for bringing new capabilities and attorneys into the firm. The CI/MI team also helps provide firm management with information for recruiting purposes. By internally marketing the CI/MI Team to the firm's attorneys, the team helped created a full-service research and analysis boutique within the firm. Benesch's attorneys rely on its CI/MI Team for information that they now feel is essential to successful business development. The firm encourages its attorneys to do so.
Whether it was brought on by the slowing economy or the increased awareness of the firm's services, the team began averaging around 26 requests per month in 2008. The team uses nine tools, ranging from CRM to court/docket information to Private Equity/M&A information. These tools focus on serving clients, enhancing business development and prospecting opportunities, reviewing competitor information and action and recruiting laterals. The CI/MI Team is now the cornerstone of the firm's BD initiatives. The firm expects to see continued growth in the amount of requests throughout the rest of 2009 and into 2010.
In the area of technology is the Client Team Portal, which is related to the CI/MI function. The portal was designed to help attorneys work together and better understand the changing needs of the firm's corporate clients. More importantly, the portal has proven to be a highly visible, firm-wide agent of culture change. The attorneys recognize the Client Team Portal as a centralized location where they can gain knowledge on clients and prospects, evaluate firm growth possibilities and identify cross-selling opportunities. It is a one-stop shop for all information and developments regarding a particular client team. Following the introduction of the portal, all 15 teams are operating with greater effectiveness. The firm saw a 12% increase in total revenue among its 15 client teams between 2007 and 2008, and continued to see good results among these teams in 2009. Five new client teams are currently slated to be developed by year-end. In addition, more attorneys are now willing to work on client teams, and Benesch's areas of practice have diversified as the result of an increasingly cross-practice group approach to client service.
In the first quarter of 2009, Benesch began an integration with outside software that measures the strength of the firm's relationships with its contacts. It has become that missing piece to help match external contacts with the firm's attorneys, helping to eliminate those firmwide “Does anyone know someone at XYZ Corp.?” e-mails.
On this platform, the firm is in the process of developing Practice Management sites that will ensure that vital information is consistently at an attorney's fingertips. By connecting, organizing and delivering all of this vital information in a single, role-based and personal interface, the Practice Management sites will enable the firm to take greater control of its intellectual capital, be more productive and respond to client demands even faster.
Benesch has established a formal key client assessment program. This includes visits to clients by the firm's Managing Partner and Client Services Director to discuss the service provided by the team, and to discuss client goals. Benesch also develops “client teams” to understand fully the needs, goals and strategies of, and deliver services to, its clients. These focused teams strive to see the world from the clients' perspectives, and to find the best solutions to address their needs. As part of the strategic plan, the firm also conducts confidential client satisfaction surveys on an annual basis. The results of these surveys help Benesch to serve its clients more effectively. One item Benesch has come to recognize the need for is the arrangement of alternative fees. The firm often proposes special fee arrangements based on each particular client's needs. Benesch started an internal Client Service Committee in 2009. The Committee works toward differentiating the firm in meaningful ways, and assuring that its level of client service matches its level of legal service. An important part of the Committee's efforts includes deepening the commitment to client service firmwide, from its receptionists and secretaries, to attorneys and managing partners. As part of Benesch's ongoing strategic plan, firm leadership has established a set of core values. The following principles consistently guide the firm's lawyers and staff in the successful pursuit of clients' interests and the advancement of the firm. Each attorney and staff member has beenpresented with a “core values card” to carry with them as a daily reminder of the importance of providing the highest level of service as a firm.
Benesch is focused on growth, both geographically and exponentially. The firm's mission is to attract and retain exceptional lawyers. In doing so, the firm recognized that creating a multi-media recruiting campaign would leverage its presence among potential new-hires and create a sense of excitement among the attorneys. The campaign consists of print pieces (a brochure and related inserts) as well as a video component on its Web site. The brochure was distributed via on-campus visits, individual attorney meetings and lateral interviews. With the launch of the campaign's video component, stickers were adhered to all brochures distributed, directing people to visit the “Join the Firm” portion of Benesch's updated Web site to view the video. In addition, news of the video was posted on the firm's homepage, announced via e-mail blasts and included in the firm's quarterly newsletter, which is sent to all clients and friends of the firm. The attorneys' involvement in providing dialogue for the brochure and appearing in the video gave them a hands-on opportunity to promote their firm. Filming the video created a buzz in the hallways and had the attorneys eagerly awaiting their chance to share with others what Benesch means to them. In turn, a greater sense of unity was created, as the firm was able to define who they were in the community.
Finally, the “My Benesch ' My Team” ad campaign relays the message that the firm's clients have a “team” on their side, and that the firm's relationships with its clients are mutually loyal and inclusive. The campaign sends the message that Benesch can fully service clients' needs, and also reinforces to our existing clients that they have a team dedicated to their success.
Although it is difficult to measure exact ROI, the fact that the name Benesch is aligned with the phrase “My Team” in the community proves that its ad campaign fulfills the purpose they intended, says Ms. Hammerstrom. The firm's goals internally were also reached ' the attorneys and staff are proud to say they're part of the Benesch team. Additionally, the firm has clients asking to be a part of the campaign. To view the entire campaign, go to www.beneschlaw.com/MyTeam.
NUMBER FOUR: K&L GATES
In 2009, K&L Gates decided not to let the gloomy specter of a global economic downturn dissuade it from continuing its aggressive growth strategy. To the contrary, the global firm has opened up no less than five new offices in 2009, including Chicago and San Diego as part of a combination with Bell, Boyd & Lloyd, as well as three offices located outside of the United States ' Frankfurt (the firm's second in Germany), Singapore (the firm's fifth in Asia), and Dubai (the firm's first in the Middle East). All of this growth came on the heels of two major combinations in 2008 with the legacy Texas firm Hughes & Luce and the legacy North Carolina firm Kennedy Covington. Now with more than 1,800 lawyers located in 33 offices across the United States, Europe, Asia, and the Middle East, the firm's rapid growth has not gone unnoticed. The K&L Gates marketing department has evolved and adapted to the ongoing changes in the firm, and currently consists of nearly 60 professionals spread across 17 offices. Led by Chief Marketing Officer Jeff Berardi, the marketing team is charged with defining strategy and implementing marketing and business development efforts for the firm and all K&L Gates lawyers. These efforts cover the broad marketing spectrum from brand development activities such as advertising design and production, marketing technology, and media/public relations, to active BD activities such as proposal production, strategic research and analysis, client teams, andtargeting efforts.
Not surprisingly, the frosty economic climate over the past year has created challenges for lawyers and marketers alike. In response, the firm's marketing department turned its attention to creating, maintaining, and improving its internal communications programs so that critical information about the firm is shared on an efficient and ongoing basis. As the firm has grown, the marketing department has been centrally involved in ensuring that proper integration occurs within offices, practices, and administrative function areas. This persistent focus on integration effectively enables K&L Gates personnel to understand and utilize the firm's ample strengths, facilitating greater cross-selling across the firm's global platform.
As part of this initiative, each month the CMO distributes the “Know Your Firm: People, Places, Practices” communication that focuses on a team of people, an office, and a practice. The firm has also been committed to further developing its Intranet, making pages devoted to practices a go-to resource for both external marketing materials and internal information from practice fast fact sheets to a calendar of events. Along with these pages, daily news stories are posted that report on recent wins, new business, awards, events, and other noteworthy items around the firm. On average, there are 23 posted stories per month. Although K&L Gates maximizes its electronic opportunities to educate lawyers, it does not ignore the power of face-to-face conversations. Each year, all partners in the firm worldwide are invited to a Partner Meeting, allowing colleagues to gather, get to know one another, and discover cross-selling opportunities. Last year's theme was “People, Places, Practices” and this year's Partner Meeting is titled “Elevating Client Service Through Firm Integration.”
Improving its tracking, measurement, and reporting process has been a core goal of the marketing department over the last several years. At the heart of the firm's BD function is a system created to track and ultimately refine the firm's client development efforts. All opportunities for new business ' requests for proposals, requests for information, responses to client inquiries, identified prospects ' are entered into a central repository, along with corresponding detail on practices, offices and lawyers involved, type of work, value, referral sources, and next steps for follow-up. The marketing department also tracks activity in its central marketing group, including media hits, graphic design jobs, Web statistics, and electronic communications. On all fronts, the firm experienced a measurable uptick in activity during the first half of 2009 over the first half of 2008, including an increase of 30% in total business development pursuit activity and a 50% increase in total media hits.
At K&L Gates, each lawyer is expected to participate in BD activities. To help lawyers succeed in these efforts, the marketing and professional development departments have joined forces to offer a substantive Client Development and Relationship Management (CDRM) curriculum. The curriculum includes business intelligence programs, moderated partner panels discussing career progression, networking skills training, and numerous other workshops. The overwhelmingly positive feedback from associates and partners alike has prompted the firm to share this curriculum more broadly. Since January 2009, the CMO and other members of the marketing department have completed CDRM workshops in more than a dozen offices across the firm, with several more sessions planned through the end of the year.
Advertising continued to evolve this year from its origins in January 2007, when the K&L Gates brand was first conceived. In the second half of that year, the firm rolled out four new ads. Each featured bright, eye-catching abstract imagery and a bold headline that served to define characteristics of the firm. “The sophisticated design, liberal use of white space, and minimal body copy helped to set K&L Gates apart from other firms by establishing us as daring, innovative thinkers,” says Berardi. Phase 2 continued through February 2009.
Beginning in March 2009, the firm launched the latest iteration of the campaign. The new series features more white space and free-form images. New headlines are “ingenuity,” “alacrity,” “acuity,” and “dexterity,” and the body copy describes what each of these words means to the firm. The series presents its values of creativity, innovation, responsiveness, client service, forethought, wisdom, versatility, and multiculturalism ' characteristics that position it well in the marketplace, according to Berardi.
Phase 3 will take the firm into the first quarter of 2010. Along with the firm's national ad campaign, it also launched a mini-campaign promoting its federal government policy practice after being named one of the nation's five most influential law firms in lobbying and government contract work (based on the Legal Times “Influence 50″ and National Law Journal law firm revenue rankings). The firm customized the ads to run in several of its markets, emphasizing the idea that its local lawyers can help clients be Washington insiders without leaving town.
In the marketing technology realm, K&L Gates maintains numerous blogs, including one focused specifically on the current economic crisis: http://www.globalfinancialmarketwatch.com. Behind this blog is the Global Financial Markets task force, a team of lawyers that reaches across practices and national boundaries to address the current financial crisis. When the firm launched the task force in 2008, the news received a good deal of media coverage, including mentions in 83 separate publications. Also of note are the firm's Cleantech Resource e-newsletters, published for three distinct markets: California, New England, and Europe. On the recruiting front, the firm launched its successful “Change Your World” campaign (www.klgates.com/changeyourworld) for a second year. The campaign consists of a Web site that offers an online trivia challenge tied to a charitable donation on behalf of the firm. Building on last year's solid platform, this year the firm focused on developing a word-of-mouth communication plan for the campaign. The firm created a Change Your World Facebook page, and is encouraging students via follow-up e-mails to visit Facebook, return to the site to better their score, and tell a friend about the challenge. After six weeks, more than 185 students registered to play the challenge, earning more than 1.2 million points for their chosen charities to receive the donation.
Devoted to providing even greater value and service to its clients, K&L Gates' client team initiative focuses on understanding the ongoing needs of firm clients. The program is designed to enable knowledge transfer between lawyers, practices, and offices; recognize and capitalize on new service opportunities; and improve overall service and communication with clients. Key program elements include research pertaining to the client's business, e-mail distribution lists, regular meetings, billing updates, relationship mapping, and client development planning. A number of the teams also make use of custom Intranet portals, containing a news and document repository, a global overview of contact information and related marketing activity, financial reports, a customizable wiki for team collaboration, and a view into the status of ongoing pursuit activity pulled from its tracking database.
Currently, K&L Gates has 29 active client teams and is expecting to have approximately 35 by the end of the year ' a substantial increase from 20 teams in 2008 and nine teams in 2007. The firm's commitment to integration and collaboration is evidenced by the fact that in 2008, 458 of the firm's 500 largest clients used lawyers in two or more of the firm's offices, and nine of the firm's 20 largest clients used lawyers in ten or more of its offices. The average number of offices engaged on projects by the firm's 20 largest clients was 9.4. For its 100 largest clients, which represent 33% of total firm revenue, the average number of offices engaged was 6.9.
NUMBER FIVE: GOODWIN PROCTER
Chief Marketing Officer Anne Malloy Tucker structured Goodwin's submission based on the Marketing/Business Development Department's goals for the fiscal year, and although some of the nomenclature is slightly different than that used in the MLF 50 criteria, this submission covers a lot of ground. Emphasis was on three specific areas: client relationship building and more formalized BD initiatives, and measurement; internal communications ' which has been of critical importance in this challenging year ' and use of technology/innovation.
Positioning Goodwin Procter for the future, Tucker says, is the overarching objective of this year's Marketing/Business Development Department goals. “The successful law firm of tomorrow will be financially healthy and strong, focused on client service delivery, innovative and efficient, and willing to re-engineer old processes and models to better leverage resources, maximize opportunities and realign the organization as necessary. Each of the five goals below, though listed separately, are inter-related and, taken as a whole, work to support our overall mission,” she says.
The first goal listed by Tucker is enhancing client service and client relationship-building efforts. Whether through practice-specific initiatives, communications efforts, alternative billing strategies, development of new staffing models, support of project management, client feedback and related initiatives, marketing efforts around a client or group of clients, support of lateral hiring and continued global services expansion ' these are all prime components of enhancing the firm's relationship-building efforts with its client base.
Next is driving and supporting revenue generation. In the continuing volatile economic climate, supporting short-term revenue-generating activity ' while planning for the longer-term ' is key. Supporting the partners and practices in new business development efforts will be a primary focus of the marketing department over the next 12 months. Looking for ways to drive revenue generation opportunities cross-practice and cross-geography is essential, says Tucker. Further development of metrics to track their results is also a critical component here.
The marketing department believes in fostering innovation. Use of new technologies, knowledge management initiatives, identification of new markets, practices or services, support for incubator initiatives with “legs,” a breakout or breakthrough idea that moves business forward, cross-practice efforts that garner positive results, a new or better way of approaching a traditional project ' these are all examples of ways in which the firm feels it can foster innovation. Additionally, creating a firmwide approach to social media, networking and related Web technologies will be a key component of its innovation efforts. Continuing to raise Goodwin Procter's profile and build awareness of the firm includes both internal and external awareness. The emphasis here is to continue to grow its profile nationally and, ultimately, internationally. Awards, honors, recognitions, rankings, media features and public relations efforts are all part of this process. Other components include internal and external communications activities, participation in targeted high profile events and publicity and support for diversity and pro bono efforts.
Identifying and implementing process efficiencies and leveraging resources is key. The firm expects both dollar and people resources to continue to be extremely limited in 2010. Its goal is to continue to work on creating more efficient processes both within the department and across the firm, and to continue to find ways to leverage its existing resources to serve the greatest number of practices and geographies in a “firm-first” manner.
While the importance of continuing to invest in marketing and BD efforts was clear this year, the need to tighten expenses and manage resources more efficiently was paramount. This resulted in a somewhat fine balancing act and forced the marketing team to look more closely and creatively at how best to leverage its available resource pool. A formalized and focused business development effort, outlined below, was one result of its efforts.
In addition to its market-facing focus, 2009 was a year of concerted internal communications efforts. A significant amount of collaboration between marketing, human resources, operations and recruiting resulted in a number of firmwide and cross-department communications efforts, some of which are also noted below.
In January, the firm detailed in a memo to the partners the development and implementation of a multi-layered initiative designed to monitor the origins of new business more accurately, develop a robust database around referrals, ensure the creation of avenues for direct client feedback, track the ROI of key activities including event and sponsorship investments and communicate the results of all of the above in a timely manner.
Under the leadership of the firm's Director of Business Development and Director of Marketing, components of the plan include the following:
Opportunity Management (formalized sales process and tracking system with a central location for recording and reporting opportunities, housed within the firm's CRM system); Referral Tracking (both inbound and outbound referrals; tracked by department and practice area and reported back on a monthly basis); Expanded Use of Financial Reporting Tools (use of a specific financial reporting tool that helps us look at revenue generation across clients, practices and geographies and assists the firm in better understanding where its business is growing); an Event “Intake and Debrief” Process (formalization of a process by which the marketing department vets sponsorship and event opportunities on the front end, and a post-mortem follow-up that tracks results at intervals throughout the year, as well as commentary and recommendations regarding future hosting or participation in the event); BD Update (a slightly revamped version of the firm's historic proposal tracking system); and the “Good Gauge” e-Bulletin (a new monthly e-bulletin focused specifically on BD ROI and measurement)
In addition, the firm is actively addressing client feedback around the issues of project management, alternative billing strategies and more efficient delivery of services. The firm's Alternative Billing Strategies Task Force is developing recommendations based on discussions with a number of its clients, and expects to pilot some new initiatives in 2010.
Strengthening internal communications continues to be a focus of the firm and the marketing department. This year, Goodwin Procter significantly enhanced its Intranet, culminating with a redesign and a relaunch of the firm's primary communications and knowledge sharing tool. The iNet home page features firmwide news and information that is updated daily with links to departments, practices, offices, matters pages and community bulletin boards and archives.
Several years ago, the firm rebranded its marketing materials. As an extension of that process, this winter it launched an internal communications brand protocol, to address the need to differentiate between the various types of materials being sent electronically and to eliminate some of the e-mail clutter. Also this year, the firm reworked both its business planning process and its marketing planning process with an eye toward ensuring that it focuss its practice development efforts on those areas of greatest importance to our clients today and to evaluate where they expect the growth markets to be tomorrow.
One of the areas where the marketing department is focusing now is the use of social media as an external communication and BD tool. The goal is to develop a targeted strategy (as opposed to twittering for the sake of twittering!), determine objectives, identify the appropriate combination of tools, and explore what works and what doesn't.
One of the efficiencies the firm has managed is the shift to electronic media as its primary vehicle platform. Whether it is client alerts or newsletters, e-announcement cards, or brochure pdfs (v hard copies) it has saved significant dollars (and trees!) through this continuing exercise.
Conclusion
Congratulations to all the firms on this year's list. You deserve a hearty round of applause.
See the MLF 50 list here (in PDF format).
Elizabeth Anne 'Betiayn' Tursi is Editor-in-Chief of this newsletter.
Managing Editor's Note:
Some of the law firms mentioned in this issue have provided Marketing the Law Firm with marketing materials for consideration for inclusion in the MLF 50. There is no connection to any contributions from the firms and the choice of winners. Choices are solely that of the author, who does not receive any compensation from the firms mentioned.
Back in April of this year when I started to think about announcing The Fifth-Anniversary MLF 50, I tossed and turned about whether, in these challenging times for law firms, there might be anything to talk about. I am happy to say that there is, and the great news is that what is going on in firms with active marketing and communications departments is quite remarkable. The big difference is that the programs being created and implemented are all tied to business development. Even in the branding corridors, business development is the catalyst and that's as it should be.
Yes, we all have been reading about the layoffs, the push-back dates on incoming classes of associates, and the administrative cuts. The good news here is that law firms have finally figured it out ' they are businesses and in order to prosper, they need to market themselves and communicate in a way that nurtures and protects their existing client base while constantly seeking out new business opportunities. While the billable hour has always been the business model for firms, it is now less about billable hours and more about keeping the existing clients happy and “bargaining” for new business. At long last, marketing and communications can take center stage and become the key indicator by which law firms can measure their success ratio.
Once again this year, many firms submitted detailed descriptions of their marketing, business development and communications programs. Some of the firms that are listed provided no information. As with past practice for those firms, research was conducted. It should be noted that while I would have liked to feature examples of the ad campaigns that some firms created, space does not permit me to do so.
Every firm that is on The Fifth-Anniversary MLF 50 is to be congratulated. This wasn't an easy year for marketing and communications. And yet, in spite of the challenges, there are at least 50 firms which have demonstrated that having a plan and implementing it can lead to spectacular results. Herewith the results of “The Fifth-Anniversary MLF 50 Top Five.”
NUMBER ONE:
What can one say about
Proskauer's marketing and communications team, working closely with its IT Group, among others within the firm, and with various well-known outside agencies, has tackled a massive multi-tier effort designed to provide vital support to its biz-dev efforts: a top-to-bottom re-branding that includes the redevelopment of the firm's primary external communications channel (Proskauer.com), its primary internal communications channel (Proskauer Connect, its Intranet site), and an overhaul of all written and visual communications ' from bios to brochures to blogs. All elements of this project, literally hundreds and hundreds of them, are scheduled to launch simultaneously this month. The firm's goal is nothing short of establishing a completely new way of communicating externally with the market and internally among its lawyers and staff.
Proskauer, which brought in its first Chief Marketing Officer, Joe Calve, four years ago, focused initially on building the firm's business development infrastructure ' people and systems. The idea, in keeping with the strategy of the firm's chairman, Allen Fagin, and its COO, Arthur Gurwitz, was to build confidence in the business development (hereinafter referred to as “BD”) function as quickly as possible.
While Proskauer believed that is was clearly in need of an identity overhaul and new Web sites, those projects were put on the back burner. However, this year, with its BD footing solid, the firm is poised to engage the market with new messages and a new look that better reflect what it has become during its recent expansion. The strategic goal is to use the new branding and communications vehicles to accelerate the firm's BD efforts. Proskauer shared with MLF its new vision and its new Web presence. I have been given a sneak preview and let me say that while I am rarely impressed, what Proskauer has created is nothing short of brilliant. So stay tuned. A key element of the firm's efforts has been a focus on internal communications as a driver of BD. Working in conjunction with the firm's Business Development Committee, the communications and BD team have developed an array of practical approaches designed to support client development, including:
The BD Call-in Program, a live monthly call during which a partner or practice group discusses their work with lawyers who listen in and ask questions. The focus is on how to best present capabilities to existing and prospective clients with specific needs. Takeaways include message points embodied in e-mail communications lawyers can use to engage their contacts. The calls are recorded and cached so anyone can listen later on.
The firm has adopted a grassroots-style Cross-Office Sales Program that solicits highly specific ideas for cross-office client development from all partners and senior counsel, and tracks their progress in executing those ideas. For example, Partner A from Los Angeles says she believes she can cross-sell certain transactional services to Boston-based Partner B's investment funds client, who research shows has needs in the relevant areas. By openly sharing the results of the program, the firm has stimulated a high level of cross-selling activity that has contributed to broader and deeper client relationships.
The Business Development Committee hosts something called a Targeted Cross-Selling Meeting. This brings together leaders of a specific practice with a hand-picked group of relationship partners who have clients with profiles that make the most sense for that practice. The meeting includes substantial pre-work such that, by the time it is held, much progress has already been made on wedding capabilities with clients, which has led to successful outcomes.
The firm's re-branding includes the launch of a new Intranet site, which is designed with BD very much in mind. The site is primarily news oriented, with the focus on “news you can use” ' information lawyers can use to position the firm's services to appropriate clients and prospects. For example, the At-a-Glance Practice Descriptions on the site present, in an easy-to-scan format, key information and messages about the firm's practices that any lawyer can use in his or her BD efforts. This includes very specific messages about what differentiates this practice from those of competitors and examples of work across industries. The site also includes resources to assist lawyers in building the firm's business, including the BD Article of the Week, a reprint of an article with useful client development tips and techniques sent to all lawyers every Thursday courtesy of the Business Development Committee.
Finally, the firm engages in other educational efforts regarding BD to highlight what the firm does and to engage partners regarding tactics and approaches. These include the publication of regular Sales Bulletins by the firm's departments, which are e-mail newsletters showcasing new matters and how the firm landed them; an internal news service that reports on client successes on a daily basis; client development presentations to various groups of lawyers across the firm; and client matter “stories” delivered by the firm's chairman at each month's partner meeting.
Proskauer's strategy revolves around the development of “practice protocols,” which are business and operations plans aligned with the firm's budget through a rigorous annual process conducted by the BD team and Business Development Committee, working with the firm's department, practice and office leaders.
The firm tracks marketing and BD efforts both in terms of hard metrics (such as success rates on pitches and RFPs) and anecdotally (information about how a particular sponsorship helped position it in the marketplace). This information is maintained in its CRM system and used to make budgeting and planning decisions going forward.
The main change to the firm's staffing this year came with the addition of an internal communications director, which is another measure of Proskauer's commitment to communications in support of BD. Otherwise, the firm's staffing strategy was consistent with that of recent years: Build a strong and knowledgeable core of account executives and provide robust marketing and communications support across all areas.
The chair of the Business Development Committee sits on the Advisory Committee, which is a broad-based governance group that supports the seven-member Executive Committee. The business development budget is substantial and in line with industry standards.
Proskauer's re-branding includes a complete revamp of the firm's visual identity. No aspect of the firm's look and feel has been left untouched, from its name and logo to all electronic and print marketing and communications materials.
Proskauer embraces technology in support of BD, including adoption of a Marketing Center for pitches and Web support; continued development of its CRM system, InterAction; development of a proprietary database providing the BD staff with immediate access to firm financial information; the rollout of a new Business Intake and Conflicts system, which captures detailed information to support BD efforts; and widespread use of on-demand call-in technology, Webinars and blogs.
The marketing and communications team provides substantial support to the firm's recruiting, pro bono, diversity and community service initiatives. Proskauer has been proactive with its communications programs in these areas, including newsletters and reviews that showcase its many efforts to be a positive force in its communities.
NUMBER TWO:
First appearing in the number 49 ranking on the 2006 MLF 50 listing as Lord Bissell & Brook, this year
In late 2007, Texas-based
With a renewed focus on the firm's existing client base and an expanded movement to cross-market and collaborate among
The firm's Communications & Marketing (C&M) team overhauled
The C&M team developed issue-specific client pieces to address changes in government as well as the economy. When the health care reform debate started to take center stage on Capitol Hill, the Health Care attorneys and C&M team developed a “Weekly Health Care Reform Update” newsletter for attorneys and clients. And when economic conditions sparked an increased number of federal bankruptcy filings, the C&M team developed a weekly “Distressed Asset Report” (DAR) listing companies that have recently filed for Chapter 11 bankruptcy and might be interested in selling off their assets. Attorneys are encouraged to forward this report to clients who might be interested in purchasing distressed assets, or who could be put in touch with the firm's team of Bankruptcy and Restructuring attorneys. Within the DAR's first month of publication, the firm's Bankruptcy Group was retained on several new matters after attorneys sent this to their clients.
The group also enhanced the firm's approach to proposals and pitches with the creation of tailored executive summaries that address upfront the needs of a specific client. To achieve a more effective presentation style, they overhauled the firm's proposal design. The number of client pitches has increased by 45% as a result.
The C&M team started to monitor ROI through a tracking system that charts all results and expenses associated with events, sponsorships, research, charitable contributions and media. The team follows a structured one-month, three-month, and six-month follow-up plan, where it requires attorneys to provide the firm with direct results (or lack thereof) from these efforts. This information is essential in the budgeting and approval of future initiatives. The team also created a marketing initiative approval form, which must be submitted prior to any project exceeding a certain dollar amount. Attorneys are required to outline costs, the perceived business benefits and the estimated ROI for the Marketing & Practice Development Committee's review and approval.
The C&M team members participate in a formal BD training program for new lateral hires. Based on the techniques learned in this process, the firm has implemented city initiatives in Atlanta, Austin, TX, and Los Angeles, each led by members of the C&M staff. As part of this, they have worked one-on-one with attorneys to develop personal marketing plans and to help develop niche practices. These smaller group settings have led to a more focused approach to targeting new business. By creating Web pages with information developed specifically for key clients and prospects instead of concentrating on the generalization of materials for mass communication and social networking, the C&M team used a more focused approach. A centralized location was created for customized materials specific to a targeted group of key clients and prospects' needs (essentially, a mini-Web site). Following BD meetings, they maintain communication by sending a link to these customized materials so the information the participants need is at their fingertips and they still have the option to visit the main Web site.
Like many firms,
The firm's Chief Communications & Marketing Officer, Julie Gilbert, took staff who were at the previously merged firms and created camaraderie and sharing of duties and skills. There are 18 people in
As part of the reorganization, a library researcher became a full-time member of the BD team. She leads all competitive intelligence research for attorneys and BD staffers in preparation for client meetings, proposals and new prospects. As a result, more than 70% of all formal RFPs and pitches sent out by the firm in the past ten months have included full background research on the company prior to responding to the client and/or prospect. A “S.W.O.T.” analysis and Nutshell Report, prepared by the firm's researcher, typically accompany these prep materials.
By thinking creatively, the team has saved the firm significant money in design and freelance fees. Additionally, they enlisted staff members to participate in a four-month BD coaching program designed for a group of lateral hires. This has allowed the firm to implement coaching techniques at various levels of the firm at no additional cost.
A Business Development Strategist was designated to lead the monitoring of the firm's RFP and Opportunities pipeline, to proactively find RFPs to which the firm should respond, and to closely track the win/loss ratio. With the help of a group of partners, the Business Development Strategist reviewed the “Stimulus Package” to identify entities that would receive funding, and in turn, be releasing RFPs for significant infrastructure projects. Since the reorganization, the C&M team's retention rate has improved tremendously, according to Ms. Clements.
Internal and external communications, particularly the value of inclusiveness and transparency, is extremely important at
An ongoing initiative is to proactively work with reporters in mainstream and trade publications to increase attorney exposure. Each time a client alert is sent out by one of the attorneys (this year, the C&M group has distributed more than 50 client alerts), the media coordinator routinely submits a short paragraph on the timely topic that he can pitch as an article to targeted publications. In addition, client alerts are sent to well-respected publications and outlets that may have been critical of the attorneys' practices, where they often are reprinted ' thus increasing the audience and ways the alerts are distributed, and increasing the firm brand. Many times, this has led to reporters calling the attorneys to be quoted on various subjects ' and positions the attorneys as leaders in their respective fields.
Given the unusual business environment of 2009, several of
Instead of waiting to hear from attorneys about when to send a survey ' which typically had been at the conclusion of a large case or transaction ' the C&M team worked with the Accounting Department to design a monthly report showing when a client's billings had significantly climbed from the previous year, fallen off from previous years' numbers, or remained consistent with past work. The team then notifies the relationship partner of these numbers and, if appropriate, suggests that a survey be sent. Responses are tracked by the C&M team and circulated back to relationship partners so that client suggestions can be addressed and implemented in a timely fashion. These surveys have resulted in a valuable dialogue between clients and the firm.
With travel and conference budgets being cut at many of its client companies,
The C&M team developed a report analyzing the top 30 client companies (not necessarily the firm's largest clients) that are best positioned to be cross-sold the firm's services or would benefit from a face-to-face meeting. The team compiles extensive research prior to these meetings so the client team is aware of their current issues and can speak to their needs and how
NUMBER THREE:
The only law firm that is not among the AmLaw 100 or Second Hundred firms in the top five is
The firm has recently been utilizing new Webinar software that allows its attorneys to hold online presentations and seminars. These Webinars are a convenient way for clients to hear about the latest industry trends and legal topics without having to leave their offices. Participants have the option to ask live questions and have their questions answered immediately.
As for its marketing strategy, the firm created an internal Competitive Intelligence/Market Intelligence (CI/MI) Team to perform research and analysis on clients, prospects, industries, competitors and the marketplace. As part of the firm's ongoing effort to create client-focused teams, the CI/MI Team is instrumental in helping its attorneys understand as much about clients and their businesses as possible. The research allows attorneys to better prepare for interviews with potential clients, and provides ideas for bringing new capabilities and attorneys into the firm. The CI/MI team also helps provide firm management with information for recruiting purposes. By internally marketing the CI/MI Team to the firm's attorneys, the team helped created a full-service research and analysis boutique within the firm.
Whether it was brought on by the slowing economy or the increased awareness of the firm's services, the team began averaging around 26 requests per month in 2008. The team uses nine tools, ranging from CRM to court/docket information to Private Equity/M&A information. These tools focus on serving clients, enhancing business development and prospecting opportunities, reviewing competitor information and action and recruiting laterals. The CI/MI Team is now the cornerstone of the firm's BD initiatives. The firm expects to see continued growth in the amount of requests throughout the rest of 2009 and into 2010.
In the area of technology is the Client Team Portal, which is related to the CI/MI function. The portal was designed to help attorneys work together and better understand the changing needs of the firm's corporate clients. More importantly, the portal has proven to be a highly visible, firm-wide agent of culture change. The attorneys recognize the Client Team Portal as a centralized location where they can gain knowledge on clients and prospects, evaluate firm growth possibilities and identify cross-selling opportunities. It is a one-stop shop for all information and developments regarding a particular client team. Following the introduction of the portal, all 15 teams are operating with greater effectiveness. The firm saw a 12% increase in total revenue among its 15 client teams between 2007 and 2008, and continued to see good results among these teams in 2009. Five new client teams are currently slated to be developed by year-end. In addition, more attorneys are now willing to work on client teams, and
In the first quarter of 2009,
On this platform, the firm is in the process of developing Practice Management sites that will ensure that vital information is consistently at an attorney's fingertips. By connecting, organizing and delivering all of this vital information in a single, role-based and personal interface, the Practice Management sites will enable the firm to take greater control of its intellectual capital, be more productive and respond to client demands even faster.
Finally, the “My
Although it is difficult to measure exact ROI, the fact that the name
NUMBER FOUR:
In 2009,
Not surprisingly, the frosty economic climate over the past year has created challenges for lawyers and marketers alike. In response, the firm's marketing department turned its attention to creating, maintaining, and improving its internal communications programs so that critical information about the firm is shared on an efficient and ongoing basis. As the firm has grown, the marketing department has been centrally involved in ensuring that proper integration occurs within offices, practices, and administrative function areas. This persistent focus on integration effectively enables
As part of this initiative, each month the CMO distributes the “Know Your Firm: People, Places, Practices” communication that focuses on a team of people, an office, and a practice. The firm has also been committed to further developing its Intranet, making pages devoted to practices a go-to resource for both external marketing materials and internal information from practice fast fact sheets to a calendar of events. Along with these pages, daily news stories are posted that report on recent wins, new business, awards, events, and other noteworthy items around the firm. On average, there are 23 posted stories per month. Although
Improving its tracking, measurement, and reporting process has been a core goal of the marketing department over the last several years. At the heart of the firm's BD function is a system created to track and ultimately refine the firm's client development efforts. All opportunities for new business ' requests for proposals, requests for information, responses to client inquiries, identified prospects ' are entered into a central repository, along with corresponding detail on practices, offices and lawyers involved, type of work, value, referral sources, and next steps for follow-up. The marketing department also tracks activity in its central marketing group, including media hits, graphic design jobs, Web statistics, and electronic communications. On all fronts, the firm experienced a measurable uptick in activity during the first half of 2009 over the first half of 2008, including an increase of 30% in total business development pursuit activity and a 50% increase in total media hits.
At
Advertising continued to evolve this year from its origins in January 2007, when the
Beginning in March 2009, the firm launched the latest iteration of the campaign. The new series features more white space and free-form images. New headlines are “ingenuity,” “alacrity,” “acuity,” and “dexterity,” and the body copy describes what each of these words means to the firm. The series presents its values of creativity, innovation, responsiveness, client service, forethought, wisdom, versatility, and multiculturalism ' characteristics that position it well in the marketplace, according to Berardi.
Phase 3 will take the firm into the first quarter of 2010. Along with the firm's national ad campaign, it also launched a mini-campaign promoting its federal government policy practice after being named one of the nation's five most influential law firms in lobbying and government contract work (based on the Legal Times “Influence 50″ and National Law Journal law firm revenue rankings). The firm customized the ads to run in several of its markets, emphasizing the idea that its local lawyers can help clients be Washington insiders without leaving town.
In the marketing technology realm,
Devoted to providing even greater value and service to its clients,
Currently,
NUMBER FIVE:
Chief Marketing Officer Anne Malloy Tucker structured Goodwin's submission based on the Marketing/Business Development Department's goals for the fiscal year, and although some of the nomenclature is slightly different than that used in the MLF 50 criteria, this submission covers a lot of ground. Emphasis was on three specific areas: client relationship building and more formalized BD initiatives, and measurement; internal communications ' which has been of critical importance in this challenging year ' and use of technology/innovation.
Positioning
The first goal listed by Tucker is enhancing client service and client relationship-building efforts. Whether through practice-specific initiatives, communications efforts, alternative billing strategies, development of new staffing models, support of project management, client feedback and related initiatives, marketing efforts around a client or group of clients, support of lateral hiring and continued global services expansion ' these are all prime components of enhancing the firm's relationship-building efforts with its client base.
Next is driving and supporting revenue generation. In the continuing volatile economic climate, supporting short-term revenue-generating activity ' while planning for the longer-term ' is key. Supporting the partners and practices in new business development efforts will be a primary focus of the marketing department over the next 12 months. Looking for ways to drive revenue generation opportunities cross-practice and cross-geography is essential, says Tucker. Further development of metrics to track their results is also a critical component here.
The marketing department believes in fostering innovation. Use of new technologies, knowledge management initiatives, identification of new markets, practices or services, support for incubator initiatives with “legs,” a breakout or breakthrough idea that moves business forward, cross-practice efforts that garner positive results, a new or better way of approaching a traditional project ' these are all examples of ways in which the firm feels it can foster innovation. Additionally, creating a firmwide approach to social media, networking and related Web technologies will be a key component of its innovation efforts. Continuing to raise
Identifying and implementing process efficiencies and leveraging resources is key. The firm expects both dollar and people resources to continue to be extremely limited in 2010. Its goal is to continue to work on creating more efficient processes both within the department and across the firm, and to continue to find ways to leverage its existing resources to serve the greatest number of practices and geographies in a “firm-first” manner.
While the importance of continuing to invest in marketing and BD efforts was clear this year, the need to tighten expenses and manage resources more efficiently was paramount. This resulted in a somewhat fine balancing act and forced the marketing team to look more closely and creatively at how best to leverage its available resource pool. A formalized and focused business development effort, outlined below, was one result of its efforts.
In addition to its market-facing focus, 2009 was a year of concerted internal communications efforts. A significant amount of collaboration between marketing, human resources, operations and recruiting resulted in a number of firmwide and cross-department communications efforts, some of which are also noted below.
In January, the firm detailed in a memo to the partners the development and implementation of a multi-layered initiative designed to monitor the origins of new business more accurately, develop a robust database around referrals, ensure the creation of avenues for direct client feedback, track the ROI of key activities including event and sponsorship investments and communicate the results of all of the above in a timely manner.
Under the leadership of the firm's Director of Business Development and Director of Marketing, components of the plan include the following:
Opportunity Management (formalized sales process and tracking system with a central location for recording and reporting opportunities, housed within the firm's CRM system); Referral Tracking (both inbound and outbound referrals; tracked by department and practice area and reported back on a monthly basis); Expanded Use of Financial Reporting Tools (use of a specific financial reporting tool that helps us look at revenue generation across clients, practices and geographies and assists the firm in better understanding where its business is growing); an Event “Intake and Debrief” Process (formalization of a process by which the marketing department vets sponsorship and event opportunities on the front end, and a post-mortem follow-up that tracks results at intervals throughout the year, as well as commentary and recommendations regarding future hosting or participation in the event); BD Update (a slightly revamped version of the firm's historic proposal tracking system); and the “Good Gauge” e-Bulletin (a new monthly e-bulletin focused specifically on BD ROI and measurement)
In addition, the firm is actively addressing client feedback around the issues of project management, alternative billing strategies and more efficient delivery of services. The firm's Alternative Billing Strategies Task Force is developing recommendations based on discussions with a number of its clients, and expects to pilot some new initiatives in 2010.
Strengthening internal communications continues to be a focus of the firm and the marketing department. This year,
Several years ago, the firm rebranded its marketing materials. As an extension of that process, this winter it launched an internal communications brand protocol, to address the need to differentiate between the various types of materials being sent electronically and to eliminate some of the e-mail clutter. Also this year, the firm reworked both its business planning process and its marketing planning process with an eye toward ensuring that it focuss its practice development efforts on those areas of greatest importance to our clients today and to evaluate where they expect the growth markets to be tomorrow.
One of the areas where the marketing department is focusing now is the use of social media as an external communication and BD tool. The goal is to develop a targeted strategy (as opposed to twittering for the sake of twittering!), determine objectives, identify the appropriate combination of tools, and explore what works and what doesn't.
One of the efficiencies the firm has managed is the shift to electronic media as its primary vehicle platform. Whether it is client alerts or newsletters, e-announcement cards, or brochure pdfs (v hard copies) it has saved significant dollars (and trees!) through this continuing exercise.
Conclusion
Congratulations to all the firms on this year's list. You deserve a hearty round of applause.
See the MLF 50 list here (in PDF format).
Elizabeth Anne 'Betiayn' Tursi is Editor-in-Chief of this newsletter.
Managing Editor's Note:
Some of the law firms mentioned in this issue have provided Marketing the Law Firm with marketing materials for consideration for inclusion in the MLF 50. There is no connection to any contributions from the firms and the choice of winners. Choices are solely that of the author, who does not receive any compensation from the firms mentioned.
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Latham & Watkins helped the largest U.S. commercial real estate research company prevail in a breach-of-contract dispute in District of Columbia federal court.