Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Top 5 Myths of Attorney Selling
March 30, 2012
MYTH #1: BUSINESS DEVELOPMENT AND LAW FIRM MARKETING ARE INTERCHANGEABLE TERMSLaw firm marketing is about being found, not chosen. How you get found is through publicity, media outreach, networking, collateral materials, conducting and attending workshops. These tactics are the eyes, ears and interests of your potential client.But first you have to locate the target — that's business development. Perhaps a more appropriate term for business development is “business generation,” which requires (dare I write it) sales training and closing skills.A few marketing professionals have the combination of skills. A few departments are structured to support their lawyers in all facets of marketing and landing new clients. Hopefully, more firms will “get it” and begin producing more revenue.
MYTH #1: BUSINESS DEVELOPMENT AND LAW FIRM MARKETING ARE INTERCHANGEABLE TERMSLaw firm marketing is about being found, not chosen. How you get found is through publicity, media outreach, networking, collateral materials, conducting and attending workshops. These tactics are the eyes, ears and interests of your potential client.But first you have to locate the target — that's business development. Perhaps a more appropriate term for business development is “business generation,” which requires (dare I write it) sales training and closing skills.A few marketing professionals have the combination of skills. A few departments are structured to support their lawyers in all facets of marketing and landing new clients. Hopefully, more firms will “get it” and begin producing more revenue.
Top 5 Strategies for Managing the End-of-Year Collections Frenzy
End of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.
The Self-Service Buyer Is On the Rise
Law firms and companies in the professional services space must recognize that clients are conducting extensive online research before making contact. Prospective buyers are no longer waiting for meetings with partners or business development professionals to understand the firm's offerings. Instead, they are seeking out information on their own, and they want to do it quickly and efficiently.
Should Large Law Firms Penalize RTO Rebels or Explore Alternatives?
Through a balanced approach that combines incentives with accountability, firms can navigate the complexities of returning to the office while maintaining productivity and morale.
Sink or Swim: The Evolving State of Law Firm Administrative Support
The paradigm of legal administrative support within law firms has undergone a remarkable transformation over the last decade. But this begs the question: are the changes to administrative support successful, and do law firms feel they are sufficiently prepared to meet future business needs?
Tax Treatment of Judgments and Settlements
Counsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.