As pressure on pricing continues, Big Law firms are buying (or building) analytics technology and hiring pricing specialists ' people who use market data, internal firm data and economics/pricing experience to ensure that firms are smart about bidding on work. The mission: Educate clients about the value the firm brings, while making sure to charge enough to make a profit.
As our world continues to "dance as fast as it can," legal marketers around the globe continue to struggle with educating their lawyers in the ways of the "new normal."
Who's doing what; who's going where.
These days, all firms must provide more value-added services. In the short run, the more you know the better chance you have at winning the business. In the long run, close client knowledge and an understanding of the marketplace will augment client retention.
Womble Carlyle's technology training and online learning programs were in need of an upgrade. Unprecedented firm growth, heightened emphasis on developing lawyers' core technology competencies, and a need to streamline and automate existing e-learning processes led the firm to initiate a fundamental shift.
It is a commonly held belief that marketing is a combination of art and science. But now, science is gobbling up most of the equation. This article outlines the engagement marketing process, including how technology is driving each step.
Skilled social media navigators frequently brag about all the people they are "networked in" with ' scores, hundreds or even thousands of LinkedIn connections, Twitter followers or Facebook friends. But once you get it in reach, what happens then?
Despite a surge in articles, blogs and white papers that focus on top trends in law firm business development and management, few have explored critical changes taking place within law firm management, particularly as they relate to the concept of the rainmaker.
Regulatory and business pressures have upped the ante for data management, and information governance (IG) has emerged as the new buzzword for meeting and beating these stakes. IG is a new way of looking at information management that combines the best of what's come before with new perspectives and approaches to keeping information secure, accessible and available.
Many law firms ' of all sizes and types ' believe that their future organizational and financial security is linked to growth and/or diversification. They are seeking the lateral addition of experienced lawyers through the acquisition and merger of practices. These firms are seeking to anticipate trends of their clients and in legal practice.
