legal biz dev

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23 Apr: Introhive, Calico Partner to Deliver Data-Powered Legal Services Strategies to United Kingdom

Enterprise relationship intelligence leader joins roster of legal solutions experts

London, April 23, 2019 — Introhive, the leader in relationship intelligence and sales automation technology, recently partnered with legal solutions group Calico, the United Kingdom’s essential resource for law firms, as a member of its stable of legal solutions experts.

Led by well-known legal sector specialists, Directors Pauline Freegard and Katrina Bevan, Calico brings together suppliers, consultants and start-ups to help more than 4,000 U.K. legal firms more easily find solutions and connect with service providers.

“Currently, given the challenges of running a practice and the lack of supplier-side…

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13 Nov: 9 can’t-miss pieces of expert law firm marketing advice

In the legal services market, growth has stalled, corporate clients are taking their legal needs in house and independent law firms are losing their share of the market.

But with the right strategic focus and insight, your firm can stem the tide, raise your visibility and lock down new business.

Need a place to start? Read on for nine golden nuggets of advice from renowned legal marketing experts.

1. Clients Hire Lawyers, Not Firms – John Remsen Jr.

John Remsen Jr., the president and CEO of Managing Partner Forum, suggests doubling down on relationships.

“Generally, clients hire lawyers, not law firms. And…

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30 Oct: 2018 LMA and Bloomberg Law Study: 4 Legal Marketing Trends That Spell Success

The latest Bloomberg Law and the Legal Marketing Association study has found that 62% of law firms are increasing their focus on marketing and business development. From greater internal pressure to generate revenue to corporate counsel reducing the number of firms they’ll work with to other firms becoming more sophisticated marketers, firms are looking to their marketing and business development teams to help.

Image credit: Bloomberg Law & LMA Research Study 2018

For legal marketers and business development professionals, this is great news. Whereas law firms and their attorneys have been traditionally focused on legal services, counsel, and the day-to-day…

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02 Jan: Business Development Dream Team: 3 Types of People You Need

Building a business development team can be tough. It takes an in-sync crew of top-notch communicators, negotiators and collaborators to stay on top of prospects and close deals that keep your firm growing and prosperous.

So how do you find these business development gems in today’s competitive job market?

Good news: we work closely with the top business development teams in law, finance and professional services firms across the world, so we’ve picked up a trick or two.

Read on to meet the three types of people you should look for as you build your firm’s ideal business development team.

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20 Sep: 3 Secrets to Legal Business Development with Joe Przybyla

The state of legal marketing and business development today is still evolving. Considering the fact that Chief Marketing Officers have only appeared in law firms over the past 15-20 years, it’s safe to say that marketing and business development is still relatively new to the legal world. But that doesn’t mean they can continue to ignore it.

According to Joe Przybyla, Introhive’s new legal marketing expert and Regional Sales Director, it’s the greatest reason for law firms to embrace it—they are far behind the curve when it comes to attracting new business. And in a compressed marketplace where clients want…

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16 Aug: Law Firm Innovation is in the Data – You Must Innovate to Survive

It seems everywhere you turn, there’s talk about the legal industry undergoing radical change. Some trends end up being fly-by-night hype, while others usher in wholesale, long-term changes. The key is for firms to separate the hype from reality and respond accordingly. One terrific source for those purposes is the annual survey “Law Firms In Transition,” conducted by Altman Weil, a management consultancy that focuses solely on the legal profession. Now in its 9th year, the most recent survey of 386 firms (including 350 of the largest US firms) and 50% of the AmLaw 200 has surfaced some findings that…

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03 Aug: Terry M. Isner Shares Expert Advice on How Law Firms Can Succeed With Business Development

Business development is essential for any law firms with growth as a goal. One person who understands this well is Terry M. Isner is CEO and owner of Jaffe Associates, a multiple LMA Your Honor Award recipient and one of LawDragon’s “100 Legal Consultants You Need to Know.”

Calling upon his vast experience crafting innovative approaches to law firm marketing and PR, he shares his advice on ways law firms can succeed with business development.

 

1. Why is sharing information critical to law firm business development success?

Terry: As children, we are taught that sharing is caring. It’s a lesson…

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01 Aug: Advance Your Law Firm’s Business Development with 14 Expert Tips

There’s no such thing as too much expert advice when it comes to succeeding with business development. But we know it can be tough finding the time to cull through all the sage wisdom out there. In this post, we did the legwork for you. Read on for guidance from industry leaders.

1. Understand the Role of Business Development

“Make sure partners know the roles marketing and business development play – and that’s not recruiting clients for them. Business development is behind the scenes helping lawyers find opportunities and build relationships that win and maintain clients,” explains John Remsen, Jr.,…

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25 Jul: Don’t Get Fooled by a Higher Growth Rate: How Law Firms Can Drive Higher Revenue

It seems sensible to assume that firm growth translates into profitability. But it turns out that’s not necessarily the case as this infographic reveals.

The infographic summarizes findings based on research by Thomson Reuters’ Legal Executive Institute and Peer Monitor. The research found that an aggressive growth rate can backfire. Consider these statistics. In 2015, the average law firm grew their rates by 2.7%. As of October 2016, firms that had grown their rates faster than the 2015 average saw their worked fees grow by an average of 2.4%. But the firms that experienced slower growth between 2015 and October 2016 saw their…

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18 Jul: 4 Strategies to Drive Law Firm Profitability in a Commoditized Marketplace

Legal services are being commoditized as corporate legal departments pressure law firms to deliver services at more predictable, lower prices. If they wish to remain profitable, law firms will have to reexamine how they do business, from the services they offer to the clients they serve. So say William Josten and Ian Turvill in their whitepaper, Reinventing the Law Firm Business Model: Making the Most of Business Development Opportunities and Driving Long-Term Growth.

Josten and Turvill recommend four strategies to clarify legal business models that will ensure firm growth today and tomorrow:

1. Find your niche

It’s no longer a…