Announcing The Seventh Annual MLF 50

Wow, what a difference a year can make. Though the recession is technically over, many firms are still struggling to leverage the best of their enterprises and grow their business while delivering top-notch service to clients. Enter more focus on client service initiatives and teams. Not to mention all the technological advances revolutionizing the legal services space. It is indeed an exciting and challenging time for us all.

Many AmLaw 100/200 firms are relying more upon their business development/marketing departments for guidance to develop and execute sound marketing strategies that result in stronger client relationships and growing billings. Again, the focus is very bottom-line.

In light of all these developments, the 2011 MLF 50 is focusing on the interplay of marketing/business development and technology, with most of the emphasis placed on the strategies firms are employing to retain client relationships and expand their businesses.

Something for Everybody

This year, we thought we would shake it up a bit and are excited to bring to our readers a second category ' the MLF Magnificent 25. Considering that many of the country's smaller to mid-sized firms have fared well in light of the three-year recession and have grown stronger on the other side of the economic downtown, Marketing the Law Firm is pleased to introduce a new ranking list in addition to its annual MLF 50, one that focuses solely on law firms of 100 attorneys and fewer.

So much has been written about the unique challenges that smaller firms face, we thought it would be an interesting experiment to review and report on firms that have fewer resources than BigLaw, but that have found a winning formula for growth.

That said, our Annual MLF Magnificent 25 is accepting nominations from firms of 100 lawyers and fewer to be evaluated along with the MLF 50 submissions. 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. Now we have opened the submissions to all.

Be sure to carefully review the instructions for submission, which appear at the end of the criteria (below).

Criteria for Selection: MLF 50 and Magnificent 25

• Law firms of 100 attorneys or more are eligible to submit entries to the former; below 100 to the latter.
• Each firm will be required to submit an essay of 1,000 words segmented by topic, e.g., if you are describing “Marketing/Business Development Strategy,” please begin your description with the category subheading.
• 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 in which they have succeeded in keeping their firm a winner in the recession, but if a firm has achieved remarkable success in some particular area, that firm will be given the same consideration as those firms that cover all of the categories.
• Make sure the name of the person submitting the entry, his or her title, and contact information is included on all entries.

Categories

The following categories will be used to evaluate each firm:

Marketing/Business Development Strategy

The firm's formal plan methodology (i.e., needs assessment, situational analysis, target industries, practice area plans, new business pipeline reports, cross-selling, and individual marketing plans); three examples of a success, including implementation and cost; whether or not an annual budget was created to support these efforts; the criteria used in creating the plan with line item examples; and examples of major new initiatives.

Communications Program

Never has it been more important to get and stay in touch with clients to grow relationships. This section will evaluate how firms develop/implement strategic communications programs in a creative way to yield high ROI for their partners and firm.

Commitment

Marketing requirements for partners and associates, training programs, percentage of gross revenue as applied to marketing; participation of marketing partner and CMO on firm management committee.

Advertising and Visual Communications

Approach, implementation and one example of a return on investment.

Online Marketing Initiatives

How technology intersects with marketing and business development is changing every day. This section will evaluate how firms develop strategic online marketing plans to leverage top level technology, e.g., webinars/webcasts, videos, audio/video podcasts, blogs and social networking. This section also includes revamping and leveraging websites to increase site traffic and conversions.

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 IS FRIDAY, SEPT. 23, 2011. ABSOLUTELY NO ENTRIES WILL BE ACCEPTED AFTER THIS DATE.

Essays must be sent as a Word document via e-mail to Kimberly Alford Rice, Editor-in-Chief, at [email protected]. Firms are encouraged to send accompanying collateral materials along with their entries. No entries will be accepted via regular mail, either to me or to Law Journal Newsletters; the same applies for faxes. Entries must be by e-mail only. For questions, please send an e-mail to me directly.

The MLF Top 50 Law Firms and the Magnificent 25 will be announced in our November issue.

Kimberly Alford Rice is Editor-in-Chief of this newsletter.