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Announcing The Sixth Annual MLF 50
I would have to say that in looking at the landscape of what law firms are thinking about, it seems that everything circles around the bottom line ' and that would be defined as business development and the retention and expansion of existing client work. For business development to succeed, a sound marketing strategy is essential. With that backdrop, this year's MLF 50 will be all about the intersection of marketing and business development with most of the emphasis placed on the strategies firms are using to keep their clients and expand their businesses. And so it is once again time to starting thinking about submissions for consideration to earn a spot on the coveted MLF 50.
Last year, the MLF 50 consisted of submissions and research into most of the AmLaw 100, Second Hundred firms and several firms that did not appear on either of those rankings. In keeping with past practice, firms of 100 attorneys or more are eligible to submit essays.
The criteria for selection have changed: The categories of marketing staffing and public relations have been eliminated. In place of marketing staffing, there is a category relating to business-development staffing. Essays may now run 2,000 words. Each firm should indicate on its submission the name of the person submitting the entry, his or her title, and contact information. Please be sure to read the instructions for submission, which appear at the end of the criteria (below).
Criteria for Selection
Law firms of 100 attorneys or more are eligible to enter. Each firm will be required to submit an essay of 2,000 words (segmented by topic, e.g., if you are describing “Marketing Strategy,” please begin your description with the category subheading) describing the marketing and communications program. If you are submitting an essay based on only one of the categories, be sure to indicate
that at the beginning of your essay. Firms are encouraged to cover as many of the categories as possible, but if a firm has achieved remarkable success in some particular area, that firm will be given the same consideration as those firms who cover all of the categories. The following categories will be used to evaluate each firm:
Marketing/Business Development Strategy
The firm's formal plan (i.e., needs assessment, overall firm plan, target industries, practice-area plans, proposal strategy for major engagements and new-business pipeline reports, cross-marketing, individual marketing plans); three examples of a success, including implementation and cost; whether or not a yearly budget is created and the criteria used in creating the plan with line-item examples; and examples of major new initiatives.
Business Development Staffing
How firms utilize the following structure for their business development planning: Practice group administration positions, business development analysts, client intelligence positions and profitability analysts.
Results
Measurable return-on-investment in specific efforts, how expenditures on specific strategies and tactics resulted in new clients, matters and/or additional profits.
Commitment
Marketing requirements for partners and associates, training programs, percentage of gross revenue as applied to marketing; participation of marketing partner on governing body of firm.
Advertising and Visual Communications
Approach, implementation and one example of a return on investment.
Technology
How technology intersects with marketing and business development including partnering with clients and prospective clients, e.g., audio/video podcasts, blogs and social networking. This section also includes the revamping of Web sites to increase traffic to site.
Client Service Programs
Goal setting, client service teams, client surveys, co-branding with clients, co-producing events, etc. Metrics and ROI will also be taken into consideration.
Outreach
Community activities, pro bono and diversity programs that intertwine with client relations.programs.
Deadline for Submissions
DEADLINE FOR SUBMISSIONS IS FRIDAY, SEPT. 24, 2010. Essays must be sent as a Word document via e-mail to Elizabeth Anne “Betiayn” Tursi, Editor-in-Chief, at [email protected]. Any firm wishing to send accompanying collateral materials must make a request directly to me via e-mail. No entries will be accepted that are sent via mail or fax to Law Journal Newsletters. If you have any questions, please send them to me via e-mail.
The Top 50 Law Firms in the Areas of Marketing and Business Development will be announced in the November issue of Marketing The Law Firm.
Elizabeth Anne “Betiayn” Tursi is Editor-in-Chief of this newsletter.
For Twitter and LinkedIn followers, click here to subscribe to the Marketing the Law Firm newsletter at a special introductory rate of $329. This offer is valid for new subscribers only.
I would have to say that in looking at the landscape of what law firms are thinking about, it seems that everything circles around the bottom line ' and that would be defined as business development and the retention and expansion of existing client work. For business development to succeed, a sound marketing strategy is essential. With that backdrop, this year's MLF 50 will be all about the intersection of marketing and business development with most of the emphasis placed on the strategies firms are using to keep their clients and expand their businesses. And so it is once again time to starting thinking about submissions for consideration to earn a spot on the coveted MLF 50.
Last year, the MLF 50 consisted of submissions and research into most of the AmLaw 100, Second Hundred firms and several firms that did not appear on either of those rankings. In keeping with past practice, firms of 100 attorneys or more are eligible to submit essays.
The criteria for selection have changed: The categories of marketing staffing and public relations have been eliminated. In place of marketing staffing, there is a category relating to business-development staffing. Essays may now run 2,000 words. Each firm should indicate on its submission the name of the person submitting the entry, his or her title, and contact information. Please be sure to read the instructions for submission, which appear at the end of the criteria (below).
Criteria for Selection
Law firms of 100 attorneys or more are eligible to enter. Each firm will be required to submit an essay of 2,000 words (segmented by topic, e.g., if you are describing “Marketing Strategy,” please begin your description with the category subheading) describing the marketing and communications program. If you are submitting an essay based on only one of the categories, be sure to indicate
that at the beginning of your essay. Firms are encouraged to cover as many of the categories as possible, but if a firm has achieved remarkable success in some particular area, that firm will be given the same consideration as those firms who cover all of the categories. The following categories will be used to evaluate each firm:
Marketing/Business Development Strategy
The firm's formal plan (i.e., needs assessment, overall firm plan, target industries, practice-area plans, proposal strategy for major engagements and new-business pipeline reports, cross-marketing, individual marketing plans); three examples of a success, including implementation and cost; whether or not a yearly budget is created and the criteria used in creating the plan with line-item examples; and examples of major new initiatives.
Business Development Staffing
How firms utilize the following structure for their business development planning: Practice group administration positions, business development analysts, client intelligence positions and profitability analysts.
Results
Measurable return-on-investment in specific efforts, how expenditures on specific strategies and tactics resulted in new clients, matters and/or additional profits.
Commitment
Marketing requirements for partners and associates, training programs, percentage of gross revenue as applied to marketing; participation of marketing partner on governing body of firm.
Advertising and Visual Communications
Approach, implementation and one example of a return on investment.
Technology
How technology intersects with marketing and business development including partnering with clients and prospective clients, e.g., audio/video podcasts, blogs and social networking. This section also includes the revamping of Web sites to increase traffic to site.
Client Service Programs
Goal setting, client service teams, client surveys, co-branding with clients, co-producing events, etc. Metrics and ROI will also be taken into consideration.
Outreach
Community activities, pro bono and diversity programs that intertwine with client relations.programs.
Deadline for Submissions
DEADLINE FOR SUBMISSIONS IS FRIDAY, SEPT. 24, 2010. Essays must be sent as a Word document via e-mail to Elizabeth Anne “Betiayn” Tursi, Editor-in-Chief, at [email protected]. Any firm wishing to send accompanying collateral materials must make a request directly to me via e-mail. No entries will be accepted that are sent via mail or fax to Law Journal Newsletters. If you have any questions, please send them to me via e-mail.
The Top 50 Law Firms in the Areas of Marketing and Business Development will be announced in the November issue of Marketing The Law Firm.
Elizabeth Anne “Betiayn” Tursi is Editor-in-Chief of this newsletter.
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