The Ben Franklin Strategy Benjamin Franklin will never know this, but he gave us the only social media strategy we need: "Either write something worth reading or do something worth writing." In the middle of the COVID-19 health crisis, there's never been a better time for a legal marketing professional to look for the good she or he can highlight within their communities, within their firms or companies, or for individual people.
Strategic business development is critical to support firm growth, and CRM software is the backbone of a data-driven approach. This article highlights a few ways to leverage data and software to improve your client experience and create future opportunities.
Skip the Doritos and Try Meditation
Challenges facing us in 2019, while seemingly very distant, deserve attention in addition to the new obstacles our firms face during what may be a temporary flattening of the COVID-19 curve. Here are four areas that law firms must continue to address to remain on the right side of 2020.
The London Interbank Offered Rate has long been the global basis for agreements that include a variable interest rate component. However, LIBOR would be replaced by other benchmarks by the end of 2021. Key to assessing risk of exposure, quantifying the financial impact, developing remediation plans and communicating material information to stakeholders will be the identification, analysis and remediation of LIBOR-based contracts.
The economic downturn that is projected to come out of the shutdowns mandated due to COVID-19 is likely to be more wide-ranging than the Great Recession of 2008 in light of the non-discriminative impact of the virus. Given this outlook, now is a critical time for companies to reassess their business and finances so that they can be prepared for the future.
With national shelter-in-place orders in place now for several months with information on resuming business in the new normal changing every day, lawyers must consider pivoting how they operate their businesses in today's sub-normal climate.
It is critical that lawyers determine strategies that match their skills, personalities, and perceptions and experiences.
Strategic business development is critical to support firm growth, and CRM software is the backbone of a data-driven approach. It not only helps your firm prospect for future clients, but also helps you strengthen and expand existing client relationships.
Conscientious development of associates through training and mentoring enables them to become dynamic, professional, and ethical attorneys who provide high quality service that clients expect.
