Legal Marketing

Marketing and megafirms

Legal Marketing: Yesterday's Competitor, Today's Collaborator

Joy Newton Martini, New York Law Journal, 10-6-2005

Numerous law firm acquisitions and dissolutions have led to changes in the industry.  An article written for the New York Law Journal, by Joy Newton Martini, examines these changes and the implication for attorneys and the law firm market.

Mergers have recently dominated the market.  The first half of 2005 has already seen 34. These mergers have created huge “megafirms.” New global firms are a new trend, creating law offices with the capability of handling numerous practice areas on a worldwide basis. These firms are hiring.

In the U.S., even the lesser firms (based on revenue) have many lawyers.  Here, the 100th firm still has more than 410 lawyers and more than $161 million in revenue. This can be dangerous for some firms due to the fragmented market. A loss of a large client or a “rainmaker” can cause numerous problems, including “dissolution.” In addition, the author suggests that firms are not used to marketing their services as different from competitors. The challenge of all these mergers and lateral movement is to retain the culture of the firms: not neglecting the “soft stuff” that appeals to clients.

Martini continues to examine the changing market’s implications for the client relationship and offers suggestions on how to better serve the client while maintaining a competitive edge.

Link to: The story (subscription may be needed)

Marketing Trends

Web Masters

When it comes to Web sites, some law firms flail, while others soar
Lisa Stansky, The National Law Journal, 05-13-2004

“Ten years ago, lawyers didn't think too much about the Internet. But time flies in cyberspace.”

Attention to detail, current and useful information, and extranets help firms’ sites get recognition and attract clients.

Blogs Dot the Litigation Landscape

Lawyers using Web logs must be mindful of pitfalls

Gail Diane Cox, The National Law Journal, 07-29-2004
Trial-specific web-based journals can be a client service. One of the benefits is being able to communicate directly. This article talks about specific trials, and the benefits and drawbacks of blogs related to them.

Market Forces
Marie-Anne Hogarth, The Recorder, 10-20-2004
Chief marketing officers are being hired by more than just the big firms. “Increasingly, law firms are seeking marketing talent beyond their own world -- in industries like consulting, investment banking and financial services.”

Buddy, Can You Spare a Lawyer?

Brenda Sandburg, The Recorder, 10-29-2004
Build relationships and increase business with clients by loaning associates and even partners to corporate legal departments

“Law firms, in-house counsel and the lawyers who get loaned out all say it's an invaluable way for firms to better understand their clients and bolster their relationships.”

For Firms' Names, Size Matters
Meredith Hobbs, Fulton County Daily Report, 11-08-2004
Shorter is better, but watch out for the politics of dropping partners’ names.                                 

Vioxx Induces Explosive Growth in Lawyer Web Ads

Online ads increasingly eyed as key marketing tool for attorneys
David Hechler, The National Law Journal, 01-06-2005
Legal advertising has exploded on the Internet. Bidding wars over search engine placement and potential disciplinary action from violation of ethics rules regarding referrals. “Many lawyers see the Web as the wave of the future for this kind of marketing.”                                                              

What to Do When the Phone Stops Ringing
Kimberly A. Fanady, Special to Law.com, 1-10-2005
Client newsletters, “schmoozing,” lawyer referral services through bar associations are among the many ways to get new clients and repeat business from current and former clients. Read the full text for more tips on marketing.

Websites, Extranets and Webinars for Law Firms

Here are three great articles on marketing your law firm on the Internet by Andy Havens, columnist for LLRX.com:

Law Firm Marketing: Microsites Help Law Firms Concentrate Their Marketing

Published July 26, 2004

Law Firm Marketing: Webinars For All of Us

A webinar is an easy way to host meetings and seminars over the Internet.

Published October 17, 2004

Law Firm Marketing: Extranets Will Hook Your Clients for Life

Published November 28, 2004

“Firms now understand that they need email and databases and websites. They are, to be generous, ten years or so behind everyone else, but the industry is finally getting on the technological ball. And that means that the person with their hand on the computer switch has some juice at the firm.”

Read what he has to say about newsletters, webinars and extranets. This article is aimed at CIOs and other IT people in law firms.

Andy Havens is a Marketing Management Consultant and co-founder of Sanestorm Marketing. His own blog is Legal Marketing - By Andy Havens

Happy Holidays from an AIIP, AALL and SLA member

Happy holidays from all of us at Balkin Library & Information Services.

What's new with us this year?

We've started Legal Marketing Off the Shelf, a new e-mail newsletter for legal publishers and other vendors, law firm administrators and marketers. If you are interested in a sample, let us know. We appreciate comments and suggestions. If you would like to receive our other newsletters (Off the Shelf; Research Off the Shelf), send us an e-mail. All three newsletters are free through e-mail.

We also have set up a blog, which you are reading right now. Please feel free to comment. What content would you like to see?

The AIIP conference was terrific. Ruth attended with three members of the Rochester Professionals Consultants Network (RPCN), all of whom joined AIIP. Ruth also attended the SLA’s Upstate New York chapter conference in Ithaca in November. She was a speaker on budgeting for libraries.

At RPCN's first annual Conference on Consulting, Ruth spoke about "Evolution of a Business." She explained how her business has changed over 25 years and how to get that message out to clients and prospects. (More information about RPCN and the Conference is on the website)

As you may know, we missed out on the AALL convention in Seattle this year, for the first time since we started going in 1985! We were celebrating Ruth's father's 80th birthday at the same time. We hope you saw our articles in Coffee Talk, the conference newspaper, and our brochure exhibited and handed out by The Reference Shelf.

Vendors and Publishers: Please feel free to send comments, updates, information on new products, etc. I really missed seeing everyone at the AALL and SLA conventions. (I usually spend three days in the exhibit hall). Let me know what's new with you and your company!

And, happy holidays and best wishes for a healthy, peaceful and prosperous New Year.

New Publication (Blog)

This is a bulletin on the latest news in the legal industry, with a
focus on marketing, both for law firms and legal vendors.

We hope you find this blog a valuable resource and look
forward to hearing your feedback. If you have comments
or would like to be added to the mailing list for the monthly
electronic newsletter, please send an e-mail to:
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