ALMResearchBlog

Who’s in Charge of Client Satisfaction at the Firm?

Tom Kane on his Legal Marketing Blog brought up a very interesting metric regarding client satisfaction. “One might think every lawyer is responsible,” Kane writes, “or maybe the managing partner if it has to be brought down to a single individual.” His initial reaction was that it should be the former, but after reading the article “The Power of One” by Marcie Borgal in The Complete Lawyer, Kane’s viewpoint was completely changed—as is ours, after reading about this one statistic presented by Borgal. (Marcie Borgal is a senior strategic analyst with The BTI Consulting Group. Her article starts with this: “A research study recently conducted (by BTI) … revealed a startling fact. Having a single individual accountable for firm-wide client service boosts per attorney profits by up to 41.2%.”  Over 41 percent! That should be one metric that makes you want to read more here.

Awards: Best Legal Web Site of 2008 Competition

As noted by Joe Hodnicki on the Law Librarian Blog, the Web Marketing Association is calling for entries for its 12th annual international WebAward Competition for websites. The Association will once again name the Best Legal Website of 2008.

The WebAwards is "the standards-defining competition that sets benchmarks for 96 industries," including legal web sites, based on the seven criteria of a successful website. The deadline for legal websites to enter to be judged is May 31, 2008. To access details and an entry form, click here.

Awards: How Bingham Won 11 Awards for Its Branding Campaign

This was an interesting post on Larry Bodine’s Law Marketing Blog, reviewing Bingham McCutchen’s almost-sweep in the 2008 LMA  Your Honor Awards. Bingham earned first place awards for its 2007 branding identify and advertising, and second place recognition for its web site design, and had earlier in the year secured nine regional LMA awards. Among the many winners was Bingham’s Bear and Baby ad, as Bodine notes, which was also named Law Firm Ad of the Year by The Wall Street Journal Law Blog and was featured on Comedy Central’s “The Colbert Report,” with host Stephen Colbert reiterating his well-known fear of bears and calling Bingham “the No. 2 threat to America.”

Now Available: Business Development Practices in Law Firms Survey Report

The third annual survey of Law Firm Business Development Practices, ALM Research continues to track trends in business development/sales, as a distinct initiative in law firms, separate from traditional marketing/communications efforts. Benchmarking information includes budgets, staffing, organizational structure, resources, and compensation for the senior-most marketing and business development professionals, including the percentage of firms where those efforts and roles are still inseparable.

As in the two previous surveys, results for “Tier 1” and “Tier 2” firms are provided. New this year is a section reporting the key benchmarking results for the very largest firms. This year’s survey also tested for the pervasiveness and effectiveness of several popular business development strategies: client interviews and surveys, sales training for lawyers, and client service teams. Respondents also reported on the process and success of submitting RFPs, and their firm's requirements and rewards for its lawyers’ business development efforts.

Full Price: $1250.00 (Includes Print & PDF file versions)
$995.00 (PDF file only)

Note that survey participants are eligible for a free copy of the executive summary of the key results of the survey, and a firm-specific benchmarking report with the purchase of the full survey report. Subscribers to ALM Research Online are eligible for a 20% discount on the purchase of the full report.

Contact ALM Research for more information and pricing.
888-770-5647 or email almresearch@alm.com

Surveys: Business Development and Marketing

The ALM Research Survey Report of the 2007 Law Firm Business Development Practices Survey is at the printers and ready for orders. Note that participants will be receiving a free Executive Summary, their own benchmarking information compared to overall results and Tier 1/Tier 2 Firm results, as well as a 20% discount on the full report. You can place your order by clicking here or by contacting Chuck Lowry, the Director of Client Relations.

In the meantime, Suzanne Lowe, author of the Expertise Marketing Blog, is conducting another one-minute survey for her upcoming book. The title of this survey is "How well do Marketing and Business Development work with other operations, like Finance, IT, HR, Legal and more?" You can access the survey site by clicking here.

And Larry Bodine of the Law Marketing Blog has a report of his own survey of how law firms spend their marketing dollars. Bodine says, among other things, that a preponderance of law firms spend 2% of their gross revenues on marketing. We found a similar result in our own survey, which covered budgets and staffing for both business development and marketing efforts, and compensation paid to the senior-most professional who headed these two efforts.

LMA Awards for Brochures, Ads, and Marketing Initiatives

Thanks to Larry Bodine at the Law Marketing Blog, those of you who weren’t able to attend the LMA conference recently in Los Angeles, and see who won awards for their firm’s marketing efforts in many, many categories. Bodine has a list on his blog. Unfortunately, the links to the list in Excel format and the glossy 48-page 7.18MB PDF file of the 2008 Winner's Book are no longer available online.

See You at LMA

Both Christie Yoest, marketing manager for ALM Research, and I (Chuck Lowry, head of client relations) will be looking for you at Booth 400 at LMA this week. The conference is this Wednesday through Saturday, March 12 through 15, at the Hyatt Regency Century Plaza in Los Angeles. Our parent company, ALM Media, will also have a prominent booth -- #106 -- and we might also run into you there. Looking forward to speaking with many of you in person that we otherwise communicate with only by email and phone.

Awards: Law Firm Marketing

The Legal Marketing Association’s New England Chapter named the winners of its Sixth Annual Your Honor Awards recent, according to Larry Bodine’s Law Marketing Blog. The Your Honor Awards recognize law firms that have demonstrated excellence in marketing and business development during the preceding year. So many firms are named—there are 13 categories, with three winners in each—that we’ll just refer you to Larry’s site.

Average Size of Megafirm Marketing Depts: 28

As mentioned on the Law Marketing Blog, the average size of marketing departments in Am Law 100-size firms is 28, according to a new factsheet released by Wisnik Career Enterprises, or about one marketer per 27 attorneys. “But alas, the tenure of the highly-paid marketers is short,” Law Marketer blogger Larry Bodine notes. Directors and chiefs last about 3 to 4 years, and entry-level personnel only 2 to 3 years.

Marketing Partner Forum Awards

As announced on Larry Bodine’s Law Marketing Blog, the winners of the annual Marketing Partner Forum Awards this year are:

• Chief Marketing Officer of the Year: Anne Malloy Tucker; at Goodwin Procter for 8 years
• Marketing Partner of the Year: Mark A. Long, Managing/Marketing Partner, Schwabe, Williamson & Wyatt
• Marketing Initiative of the Year: Foley & Lardner, Multimedia Integration Initiative

Marketing Salaries: North American Firms Pay 24% More to Their Managers

According to a recent “snapshot survey” on marketing salaries by PM Forum, North American firms pay 24% more than U.K. firms to their managers an directors, though they pay similar amounts to junior marketers. Global firms pay the highest, as do firms with headcounts of between 1,000 and 10,000.

The survey, which had 470 marketing respondents in professional services firms worldwide, also found that law firms pay 12.3% more to marketers than accountancy firms. A free report is available by click here .

New “Success Kit” for Business Development

Not that we make a practice of promoting anyone else’s products and services, but Jim Hasset of the Legal Business Development Blog has developed the “Legal Biz Dev Success Kit,” and reviews—all positive—are popping up on a variety of sites, such as this one by Tom Kane on the Legal Marketing Blog, and this one by Kate Daisley on  Amid the Noise and Haste. A demo of  the modular course is available here. Check it out.

2008 AALL/Thomson West Excellence in Marketing Awards

Submissions are now being taken for the 2008 AALL/Thomson West excellence in Marketing Awards and thanks for the Law Librarian Blog for their announcement. The contest is open to any individual, group, library, Consortium, SIS, Caucus, Chapter, or any other group affiliated with AALL.  Award categories include: Best Brochure, Best Newsletter, Best Campaign, Best PR Tool Kit, Best Use of Technology. The deadline for entries is February 1, 2008.

2007 WebAwards for Excellence in Web Marketing

According to this report from Larry Bodine, the Web Marketing Association recently announced the winners in the 2007 WebAwards for excellence in the use of the Web for Marketing. Most notable, of course, are the law firm winners.

Womble Carlyle won the top award for Best Legal Website. And Bodine’s Law Marketing Blog has a list of all the winners in the Legal Category awards.

LSSO RainDance Conference

The Legal Sales and Service Organization wants business development and marketing folks to save the date for their next conference: May 6 – 8, 2008 in Boston at the Hilton Boston, Logan Airport. Those who register before March 14 receive preferred pricing on registration. FYI: RainDance is the industry's only leadership conference exclusively focused on driving revenue and building client loyalty. You can visit the Past Events page on their website to view speakers, topics, comments, and conference photos from past conferences. To register visit the LSSO web site, call 617-726-1500 or email admin@legalsales.org for more information.

Top Law Firms in Marketing and Communications

The Marketing the Law Firm newsletter has just released its third annual list of the MLF 50, aka/The Top Law Firms in Marketing and Communications. We can only let you know that Proskauer Rose garnered the top spot, but the story and the rest of the rankings are pay-per-view. But then again, it’s only $15, and a subscription to the newsletter is only $409 for electronic format. Elizabeth Anne “Betiayn” Tursi, the editor in chief, wrote in-depth profiles of each of the top five firms and their marketing/communications leaders. To find out more, click here.

Law Firm Client Surveys

We were intrigued by Tom Collins’ musings and suggestions (More Partner Income Blog)
about client surveys. Collins says he has read very little in the past year dealing with client surveys and wonders if the whole idea has “moved to the back of the collective mind of law firm managing partners.” We’re wondering also—and, in fact, it is one of the topics covered in our current Business Development Practices Survey, which we invite your law firm to participate in.

We ask, in our survey, not only whether your firm conducts formal client interviews and/or satisfaction surveys, but who conducts the surveys/interviews, how they are conducted, how often they are conducted, how the selection process works as to which clients are selected for surveying/interviewing, how the information is disseminated, and what the purpose is. We also ask respondents to rate client surveys/interviews for their effectiveness as a business development strategy.

Collins recommends that this strategy should be an ongoing exercise, but should not be done as a mass mailing. He also offers advice on how often to conduct surveys, and who should be surveyed or interviewed, along with a few caveats, e.g. Do not conduct surveys unless you plan to do something in response to the results.  Do not survey unless you have assigned clear responsibility and established accountability for follow up with each client regarding their survey.  To read more, click here.

To participate in this year's Business Development Practices Survey, click here. The survey covers marketing/communications efforts (budgets, staffing, strategy, and other organization concerns), as well as business development/sales efforts and trends. Participants receive the Executive Summary and a discount on the full publised report.

Best Law Firms to Work For--Especially if You Have a Family

A report spearheaded by a women's group at Yale Law School has picked the 10 most family-friendly law firms, with a midsized shop earning the top spot, according to a report that appeared recently in National Law Journal (“Milwaukee firm gets top ‘friendly’ nod”). Yale Law Women and a coalition of groups at seven other elite law schools have named Quarles & Brady the top firm based on length of maternity leave, existence of on-site child-care facilities, compensation, flexible schedules and other factors.

About a month ago, we also reported on the results of the annual Working Women’s magazine Best Places to Work  survey which, for the first time this year, had a list devoted exclusively to law firms. Alston & Bird made the top of that list.

ALM Research Launches 3rd Annual Business Development Survey

ALM Research has just launched the third annual Law Firm Business Development Survey. Large and midsize firms are invited to participate. In return for their participation, participants will receive a free copy of the Executive Summary of all key data gathered in the survey.

The survey will continue to track benchmarking information about business development/sales and marketing/communication trends having to do with budgets, staffing, salaries, organizational structure, and strategies at large and midsize firms. (Large firms are in the NLJ 250 , Am Law 200, and Global 100 size range.)

This year's survey takes a close look at the RFP process, as well as three specific business development strategies: client surveys and interviews, client service teams, and sales training for lawyers. Do these strategies work for firms or not? Take part in the survey and find out.

To participate in the 2007 Law Firm Business Development Practices Survey, click here.To review the Executive Summary of last year's survey, click here. For questions about the survey, send an email to ALM Research or call 888-770-5647.

Revamped Web Sites Getting Attention

Gibson Dunn’s revamped web site  has been getting a lot of attention. In fact, you would think that with all the attention, it must be a very flashy, ultra-modern-looking web site. But no. As described by the Cal Law blog, Legal Pad , the firm’s new web site looks “more like a literary journal or an intellectual magazine than a law firm site.” Very retro. The main page is all black type on white. No images. Legal Pad quotes one of the partners who were on the re-design team, Ted Boutrous: “We wanted to be timeless, elegant, and clear — almost a journalistic approach. You want information? Here it is, and it’s interesting." The site also features videos designed to convey the firm’s message about diversity, which they have been making an effort to promote.

Meanwhile, Saul Ewing’s revamping of its web site  was described in a story in The Legal Intelligencer (“From Flop to Hit’). According to the writer, Frances Sheldon, the Web technology administrator at the firm, “even the best Web sites begin to fade as soon as they blossom.” In 2003, Saul Ewing's Web site was so far from great that it received the scorn of Micah Buchdahl in his review of Am Law 200 law firm Web sites, she writes. And one of the goals became building a site that would grow with the firm and still be relevant two years after launch, especially in terms of the technology used. Sheldon’s “how we did it” story is interesting and useful.

Marketing and Business Development: Just Follow the List

We like numbers here at ALM Research. And wouldn’t life—and work—be so much easier if all we had to do was follow the proscriptions of a numbered list telling us what to do, or what not to do? But which one? Take your pick—or perhaps try them all:

6 Things That Drive Clients Crazy (and What You Can Do to Avoid Them) appeared among FindLaw’s law practice management articles by Edward Poll.

8 More Marketing and Management Tips appeared on the Kohn Communications Marketing and Communications blog, with all each short paragraph authored by a different writer.

10 Tips from the Consultants at Kohn Communications appeared on the Kohn Communications Marketing and Communications blog, with each tip authored by a different writer/consultant.

10 Business Tips to Help Your Legal Practice appeared on the Legal Marketing Blog (they had picked it up from the article on RainToday.com by Ruth Winett of Winett Associates).

10 Ways to Lose Good Clients was mentioned on Alison Shield’s Legal Ease Blog (it was actually the title of a now-past tele-seminar).

15 Ways to Become an Influential Blogger appeared on Kevin O’Keefe’s Real Lawyers Have Blogs blog (referencing the author of Skelliewag, a site about “creating content your site’s visitors will fall in love with”).

17 Lawyer Tips: A Mini Manifesto appeared on Larry Bodine’s Law Marketing Blog (he had picked it up from the ABA's Law Practice magazine; the list was put together by Matt Homann).

Evolving Role of the CMO

On his blog, Amazing Firms, Amazing Practices, Gerry Riskin posted a discussion (Gaining Influence as a Law Firm CMO) of an article appearing in the September 2007 issue of the McKinsey Quarterly on The Evolving Role of the CMO (the full article is available only to premium subscribers). According to Riskin, the writer—David Court—posed four areas of change for the CMO: changing to reflect new customer (client) buying behavior; shaping the company’s (firm’s) public profile; managing complexity; and building new marketing capabilities. Riskin says you may want to ask your Managing Partner to read this—“if you are a serious CMO in a serious law firm"--so that you can discuss how to implement some of Court’s suggestions.

The Am Law 200 Blogosphere

It’s inevitable. A new trend comes along, and someone has to then quantify it and analyze it. We love that tendency. Blogging has definitely caught on among The Am Law 200, according to Kevin O’Keefe of Real Lawyers Have Blogs. And in a recent post, O’Keefe presented an analysis of the trend. In State of the AmLaw Blogosphere, August 2007, he writes that “of the firms on the 2006 AmLaw list (the number was a few below 200, as mergers have consolidated firms since the list first published), 39 firms were blogging. From those 39 firms, we found a total of 74 blogs. 56 of these blogs were firm branded (meaning they had the firm's logo prominently displayed on the page). 18 were not branded, indicating that the lawyer was operating their blog independently of or at a distance from their firm.” Blog topics include a huge range of practice areas. A list of firms with blogs, and links to those blogs, are provided in this post.

2500 Marketers in the Am Law 100

According to a study called Career Journal: Looking at Law Firm Marketing Depts. in 2007, authored by Eva Wisnik and Jennifer Johnson, there are more than 2,500 marketers in the Am Law 100. The study, published in the ALM Media newsletter Marketing the Law Firm, is free to subscribers and $15 for non-subscribers, but was reviewed recently by Larry Bodine on his Law Marketing Blog. Bodine noted several “tidbits” of news that emerged from the study -- Marketing directors are hiring “specialists” who are ranked between the marketing coordinator and marketing manager positions. Firms are looking to hire “Proposal Center Managers” who oversee the RFP, pitch and proposal process, and track wins and losses.  Salaries for law firm marketers are also included in the study.

Just released: The 2007 Legal Technology Market Assessment Study

ALM Research has just released the 2007 Legal Technology Market Assessment Study (LTMAS). This landmark study, conducted by Cogent Research and ALM Research, is based on the survey responses of nearly 1,400 attorneys, and measures user satisfaction, market penetration and brand loyalty. Specific products are rated and reviewed in five key areas: Case Management; Document Management; Client Development; Electronic Discovery; Online Research.  See which brands earned the highest marks from their customers. Find out what is driving technology purchases and preferences, and defining trends in law firm technology budgets. Order your copy of the 2007 LTMAS Report from the ALM Research Store.

Nominations Due: Tech Vendors and Marketing Depts

Law Technology News is now taking nominations for the annual LTN Vendor Awards and the Law firm/Law Dept. Technology awards, which are awarded at the LTN Technology Awards Dinner (Feb 5th, 2008) during Legal Tech New York. The process this year involves self-nomination. To find out how, click here. Forms are due by October 31st.

ALM’s Law Journal Newsletter, Marketing The Law Firm is now taking self-nominations for the third annual “MLF 50” list, the Top 50 Law Firms in Marketing. Deadline for submissions is Sept 17thFor more information about the submissions procedure and guidelines, click here. Last year’s list is available through the ALM Research Store ($15 for non-subscribers) or by clicking on this link: 2006 Top 50 Law Firms in Marketing and Communications.

Business Development and Marketing: By the Numbers

Our own Business Development Survey report (2006; the 2007 survey to launch right after Labor Day) presents all the information we learned about business development and marketing practices—budgets, staffing, strategies—basically in the order of how we asked the questions. Perhaps we should take hint from these other writers who use short, numbered lists. We do like lists.

11 Ways to Build Relationships, is courtesy of Tom Kane and his Legal Marketing Blog. In Kane’s world, because he encourages lawyers to entertain (No. 2 on his list) he feels that one can build relationships with clients and gather referral sources on the golf course, a place he is obviously pining to be. Kane says that his list of 11 tips comes directly from Sara Holtz’s list (The Complete Lawyer which is called: Instead of Golf: Ten Ways To Build Personal Relationships That Build Business.) And on his newly re-vamped Law Marketing Blog, Larry Bodine has the 25 Question Sales Training Quiz (e.g., You know you need to develop a sales training program when … all of your rainmakers are over 65.)

FindLaw has come up with Ten Ways to Protect Your Marketing Intellectual Property, a list of “ten situations where your marketing department should avoid spreading the word,” starting with starting with not being so generous in sharing your internal reports. Also on Findlaw: 17 Fatal Marketing Mistakes Lawyers Make, authored by consultant Trey Ryder. (Mistake #1: Relying on Referrals.)

Top Tips from ABA TECHSHOW

Mark Kuiack, writing on the Canadian Bar Association’s web site, CBA PracticeLink, offers these Top 10 Tips from TECHSHOW. A few samples: Create a “TripTik” for your clients – Remember those CAA roadmaps that were so helpful in the pre-Google days? Apply the same concept to guide your clients through the entire process, from engagement to closure. Don’t manage staff by e-mail – Recent surveys show that recipients correctly interpret the tone of e-mail only 50 per cent of the time. E-mail shouldn’t replace face-to-face interaction with staff. Google yourself – Google yourself regularly to find out how potential clients see you through the eyes of the Web. Better yet, set up Google Alerts to ensure you’re not the last to know what’s being said about you online. To read more, click here

Blog Meta-Search Tool

The Legal Marketing Reader offers a meta-search tool that will search 25 of the top web resources on law firm marketing. As noted on the web site, use the search box in the top right hand corner and will “crawl” through all the results from trusted sites, such as Legal Business Development, the Legal Sales and Service Organization, Legal Marketing Magazine, and more.

Time to Shorten the Firm's Name?

Tom Kane, on the Legal Marketing Blog says Yes! - IF the firm has more than two names. In his experience, Kane says, there are a couple of things that seem to run true in the Name Dept:  No matter how long the name, people on the street (and other lawyers) only refer to the firm by the first name or at most the first two, and only in the case of firms that have a name like Smith, Jones, Ego, Ego, Ego & Ego. Actually, he says his only point is that from a legal marketing and business development standpoint, it is more important to have a memorable, short name that clients (and certainly prospects and referrals sources) can say without embarrassing themselves when asked.

Advertising, Marketing, and Business Development

Several recent articles in ALM publications have focused on some of the basics about law firm advertising and marketing. The National Law Journal noted the anniversary of the Supreme Court's ruling allowing law firms to advertise (Bates v. Arizona, 433 U.S. 350) in "After 30 Years, Law Firm Advertising is Slow to Change". Although firms themselves have undergone profound changes since the high court decided that even lawyers were entitled to free speech, the profession's advertising manner and message -- especially among the larger firms -- have evolved very little in those 30 years, according to many industry observers, the NLJ report said.

Law Firm, Inc. also took the long view in Once Marketing-Shy, Law Firms Get With the Program (aka/ "Marketing With Moxie" in the print issue). This piece, which notes that "What marketing there was in the earlier days was generally left to gregarious senior partners or rainmakers," examines some innovative marketing practices at three firms, Holland & Hart (an in-flight ad campaign), Foley Hoag (a plush meeting and conference center in Boston's Route 128 tech corridor), and Thompson Hine (client service teams, with an equal focus on new business and client retention).

Our own Business Development Survey over the last two years has managed to capture some of these trends showing growth in the commitment of resources over the past two years, as well as reports of what works - and what doesn't - in the estimation of some of the world's top firms. The 2005 and 2006 survey reports are available through ALM Research Online, or by clicking on the link above.

Training: Business Development, Marketing

The Web Audio Conference Division of ALM Media is offering several conferences in June and July relating to business development for lawyers. The Law Firm Associates Guide to Personal Marketing and Selling Skills is scheduled for June 21st at noon EST. And the Lawyer's Field Guide to Effective Business Development is scheduled for July 19, also at noon EST. For questions and information on bulk pricing, email: CMartinez@alm.com or call 212-313-9248.

Marketing: 100+ Ideas

This list of 100+ Marketing Ideas came from FindLaw, by way of the U.S. Small Business Administration, by way of the National Women's Business Center, Washington, D.C. It’s grouped by topic and it’s well worth the very concise read.

Viral Marketing: Thunderlizard Evangelists

Came across this item called Thunderlizard Evangelists on Kate Daisley’s new blog, Amid the Noise and Haste. (Kate is the manager of product and business development here at ALM Research.) The blog posting has to do with “building online communities around your product [or service] to grow sales, learn what's not working, and communicate with customers.” Kate says she’s interested in this because “brand managers and product managers get so close to their product they can't see past the noise and haste to get a clear picture of what their customers want - even the ones who love their product but see even greater potential for it.” There may be a message in there for all of us lizards.

LSSO's Raindance Conference in June

"LSSO" is the Legal Sales and Service Organization and the Raindance Conference is a leadership conference focused exclusively on issues having to do with driving revenue and building client loyalty in law firms. The conference features faculty of "sales and service experts with the experience and insight to help you develop competitive, effective sales and service strategies and tactics," according to LSSO. This year's Raindance Conference will be held June 12-14 at the Four Seasons Resort and Club in Dallas. To read more about it and register, click here.

Raindance! LSSO's Annual Conference

It's not happening until June, but now is the time to register for LSSO's annual Raindance Conference, to be held June 12 - 14 at the Four Seasons Resort and Club in Dallas. This is the industry's only leadership conference exclusively focused on driving revenue and building client loyalty. For hotel reservations, call the Four Seasons Resort and Club directly at 972-717-2499. Book by May 22nd to take advantage of LSSO's conference rate of $245.00. Well-known author, John Klymshyn will be a keynote speaker. Other presenters will include former Xerox Senior Vice President, Tom Ryan as well as Martin Camp and Cordell Parvin, both of whom created breakthrough programs to drive revenue in law firms.

Law Firm Marketing: Mergers Fuel Rise in Budgets

A recent article in The Recorder by Zusha Elinson, Competition Fuels Marketing Budgets has garnered a lot of attention in the blogosphere. Accord