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The legal profession, marketing technology and clients' buying and retention habits are changing dramatically. Law firm marketing leaders need to think differently about lead generation, big data, project delivery and leadership.
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Taking Your Firm's CI to the Next Level
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Business development needn't be complicated, difficult or distressing. However, for many lawyers, it's all of that. Much of the uncertainty and anxiety can be eliminated by a single shift in perspective.
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The modern-day snoop is all too often someone you know. If this consideration doesn't leave you paranoid and looking over your shoulder, it should.
Law departments are not being asked to do more with less? Instead, they are being asked to do more with more (though sometimes their budget increases are not keeping up with their new responsibilities).
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Law firms are increasingly confident in their cybersecurity capabilities, despite many falling short of adequate breach response preparation.
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Hard work alone will not propel your career forward to its highest possible level; you are going to need to be savvy at the art of self-promotion. This includes going outside of your firm to get new clients and letting those inside your firm know about your accomplishments to propel you up the corporate ladder.
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Realization has hit an all-time low of 83%, plunging from 93% just a decade ago. Most firms are building pricing groups as the place to start addressing this pain. This is certainly a good starting point, but if your firm is pricing and not monitoring, you've actually got a problem.
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In its astonishing "Free the Law" project, Harvard has teamed up with a California start-up called Ravel Law to digitize every state, federal, territorial and tribal judicial decision since colonial times by feeding over 40 million pages physically cut from the books shelved in the Harvard Law Library into a high-speed digital scanner.
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A true partnership requires a compensation structure that rewards partner-like behavior — collegiality, mentoring, expansion and transition of client relationships to fellow partners, and a consensus to pursue long-term strategies promoting institutional stability rather than maximizing short-term profit metrics.