Firm Marketing Initiatives: Trends We See for 2013

We're seeing many firms take action to stave off potential defections and build quality platforms that stabilize firms. The types of actions we see firms taking include the following.

Beefing Up Business Development Departments

Timekeepers are telling us that the real value of the marketing department is being proactive and strategic in the area of business development. Brochures and branding, although important parts of a holistic sales and marketing program, have taken a back seat to effective business development. Unfortunately, many marketing professionals in law firms these days lack formal business development training and/or experience. As a result, the marketing department's value, as ranked by their lawyers, is average at best. Business development professionals who have formal sales training and experience are being brought into firms at an accelerated rate. We expect this trend to continue for many years to come.

Creating Sales Teams

We are seeing less “lone-wolf” business development behavior in law firms. Activity absent an institutional foundation has limited benefits, and simply isn't sustainable long-term. Compensation programs are being modified to provide an economic incentive to plan, go-to-market, and service clients as a team. It will take a few comp cycles for lawyers to believe that “origination” isn't king anymore, but once they do, exponential value will be recognized by firms and clients alike. As lawyers begin working together and communicating more effectively, sales professionals, typically aligned by industry, will be added to the roster. Once this occurs, proactive and strategic business development activity will happen at increasing rates.

Increased Coaching and Training Programs

In the current environment, it's not enough to offer only the firms' experienced partners business development training and coaching. We're seeing client development training and individual coaching offered to senior associates and junior partners so they can meet the business development demands that will be placed upon them as they grow within the firm. “We've had great success training our senior counsel for several years, and are now contemplating broadening that group to include selected senior associates as well. We need lawyers whose business development acumen grows alongside their lawyering skills,” reports Michelle Klopp, director of business development at Hanson Bridgett in San Francisco.

In conjunction with lawyer training, we are being asked to train marketing professionals as well. The primary focus of marketing department training is on understanding the business of law. Just as we teach lawyers to understand their clients' business, we apply the same philosophy to marketing by helping them understand the issues that face their attorneys ' and how to deliver maximum value as they help them overcome these issues. In addition, marketing professionals benefit from learning sales processes and creating an organization that helps lawyers guide prospects through a pipeline from initial contact to valued client. Jackie Greenbaum, client relations manager at nationwide employment law powerhouse Fisher & Phillips, claims “receiving training on the sales process and how to help lawyers use a pipeline has
really boosted our business development efforts and helped me coach the lawyers in a significant way.”

Emphasis on Thought Leadership Through Content Creation

Firms are realizing that lawyers capable of excellent content creation may not have the time or inclination to update social media sites and tools. We're seeing more firms assist lawyers by providing them the back-end support to showcase quality content. This helps build reputations based on content that may otherwise be buried in a scholarly publication. Marketing teams work with lawyers by placing and repurposing their wisdom in a variety of feeds. Marketing staff monitor the community and suggest topics for focus. Marketing also ensures that the sites are up-to-date and fresh, and linked to other tools. Kevin O'Keefe, CEO at Lexblog, sees the trend one step ahead. “I see law firms, like corporate America, moving away from centralized social media,” he says. “In-house marketing departments are focusing on enabling and empowering lawyers to engage their target audience directly in order to enhance their word-of-mouth reputation and build relationships. Not only is it not possible to network on behalf of hundreds of lawyers, but it's also not as effective. Social, after all, means socializing.” As social media continues to be the main driver behind online thought leadership, we look to see more tools for support of this process.

Go-to-Market Improvement Plans

In order to achieve measurable results that can be routinely replicated, a unified approach to the market is critical. Many firms have a number of talented people and related processes, but coordination and leverage of these resources at an enterprise level are lacking. In many cases, investments in technology have been made, but specific goals and objectives for that technology have not been formalized. If only we had a nickel for every time we've heard the phrase, “Our database stinks.” We're seeing go-to-market assessments undertaken more frequently. These assessments take a look at everything related to client development, including but not limited to marketing department organizational structure, communication, the pitch and proposal process, client teams, industry teams, client feedback, use of technology, coaching and training programs, etc.

Conclusion

The common thread we find in all identified trends is an increasing emphasis on understanding how to build trusting relationships with prospects and clients. Business development departments are more focused on constructs that achieve that ultimate goal through training, dedicated sales professionals, assistance with social media and complete department structure. Technology, resources and organizational charts all are evolving to support more and deeper one-on-one lawyer-client relationships. We see this overall trend continuing in 2013 and beyond.

As the recent drama of large firm closings played out in the national media right before our eyes, we had the misfortune (or fortune, depending on how you view it) of seeing something we don't always have the opportunity to see: the inner workings of another firm.

The coup de grace for the demise of these institutions presents a common thread. In the end, one thing becomes patently clear: When lawyers no longer feel they are at a place that can support and reward the ambitions they have for their practice, they head for the door.

Some recent reports forecast even more doom on the horizon for large firms. Attracting, integrating and, most important, retaining top talent has become all-important to the success of firms. What is it that draws great lawyers to your firm and keeps them satisfied? Survey results show that overall compensation is usually less important than other factors.

We're seeing many firms take action to stave off potential defections and build quality platforms that stabilize firms. The types of actions we see firms taking include the following.

Beefing Up Business Development Departments

Timekeepers are telling us that the real value of the marketing department is being proactive and strategic in the area of business development. Brochures and branding, although important parts of a holistic sales and marketing program, have taken a back seat to effective business development. Unfortunately, many marketing professionals in law firms these days lack formal business development training and/or experience. As a result, the marketing department's value, as ranked by their lawyers, is average at best. Business development professionals who have formal sales training and experience are being brought into firms at an accelerated rate. We expect this trend to continue for many years to come.

Creating Sales Teams

We are seeing less “lone-wolf” business development behavior in law firms. Activity absent an institutional foundation has limited benefits, and simply isn't sustainable long-term. Compensation programs are being modified to provide an economic incentive to plan, go-to-market, and service clients as a team. It will take a few comp cycles for lawyers to believe that “origination” isn't king anymore, but once they do, exponential value will be recognized by firms and clients alike. As lawyers begin working together and communicating more effectively, sales professionals, typically aligned by industry, will be added to the roster. Once this occurs, proactive and strategic business development activity will happen at increasing rates.

Increased Coaching and Training Programs

In the current environment, it's not enough to offer only the firms' experienced partners business development training and coaching. We're seeing client development training and individual coaching offered to senior associates and junior partners so they can meet the business development demands that will be placed upon them as they grow within the firm. “We've had great success training our senior counsel for several years, and are now contemplating broadening that group to include selected senior associates as well. We need lawyers whose business development acumen grows alongside their lawyering skills,” reports Michelle Klopp, director of business development at Hanson Bridgett in San Francisco.

In conjunction with lawyer training, we are being asked to train marketing professionals as well. The primary focus of marketing department training is on understanding the business of law. Just as we teach lawyers to understand their clients' business, we apply the same philosophy to marketing by helping them understand the issues that face their attorneys ' and how to deliver maximum value as they help them overcome these issues. In addition, marketing professionals benefit from learning sales processes and creating an organization that helps lawyers guide prospects through a pipeline from initial contact to valued client. Jackie Greenbaum, client relations manager at nationwide employment law powerhouse Fisher & Phillips, claims “receiving training on the sales process and how to help lawyers use a pipeline has
really boosted our business development efforts and helped me coach the lawyers in a significant way.”

Emphasis on Thought Leadership Through Content Creation

Firms are realizing that lawyers capable of excellent content creation may not have the time or inclination to update social media sites and tools. We're seeing more firms assist lawyers by providing them the back-end support to showcase quality content. This helps build reputations based on content that may otherwise be buried in a scholarly publication. Marketing teams work with lawyers by placing and repurposing their wisdom in a variety of feeds. Marketing staff monitor the community and suggest topics for focus. Marketing also ensures that the sites are up-to-date and fresh, and linked to other tools. Kevin O'Keefe, CEO at Lexblog, sees the trend one step ahead. “I see law firms, like corporate America, moving away from centralized social media,” he says. “In-house marketing departments are focusing on enabling and empowering lawyers to engage their target audience directly in order to enhance their word-of-mouth reputation and build relationships. Not only is it not possible to network on behalf of hundreds of lawyers, but it's also not as effective. Social, after all, means socializing.” As social media continues to be the main driver behind online thought leadership, we look to see more tools for support of this process.

Go-to-Market Improvement Plans

In order to achieve measurable results that can be routinely replicated, a unified approach to the market is critical. Many firms have a number of talented people and related processes, but coordination and leverage of these resources at an enterprise level are lacking. In many cases, investments in technology have been made, but specific goals and objectives for that technology have not been formalized. If only we had a nickel for every time we've heard the phrase, “Our database stinks.” We're seeing go-to-market assessments undertaken more frequently. These assessments take a look at everything related to client development, including but not limited to marketing department organizational structure, communication, the pitch and proposal process, client teams, industry teams, client feedback, use of technology, coaching and training programs, etc.

Conclusion

The common thread we find in all identified trends is an increasing emphasis on understanding how to build trusting relationships with prospects and clients. Business development departments are more focused on constructs that achieve that ultimate goal through training, dedicated sales professionals, assistance with social media and complete department structure. Technology, resources and organizational charts all are evolving to support more and deeper one-on-one lawyer-client relationships. We see this overall trend continuing in 2013 and beyond.