In March of this year, artist Mike Winklemann, AKA “Beeple”, sold a compilation of digital art for $26m through Christie’s. The artwork was comprised of 5,000 images, created daily over a 13-year period. Unless your firm is planning on investing in digital art anytime soon, why should law firms care about this sale? Because whether you are a Managing Partner or a Marketing Director, business strategy is about identifying important shifts in the marketplace BEFORE they are entirely relevant to your current business processes so you can determine if and how they might affect you and your client base in . . . [more]
Archive for the ‘Legal Marketing’ Columns
I saw a version of this poster on LinkedIn a few months ago and it immediately resonated with me. I suspect many of my legal marketing colleagues would feel the same.
I often hear from lawyers that it’s difficult for them to find the time for marketing and business development and that they don’t know where to start. My response is almost always the same – start small, keep it simple, and focus on your strengths.
Or in other words, figure out what you can do in 0.1 (six minutes)
- Get online – Make a habit of using
For those of us that use Facebook, one of the fun features is Facebook Memories – those tidbits we posted or reacted to over the years that remind us of moments in time. A year into the pandemic, it is interesting to look back at our reactions to COVID-19 at the early stages. A lot has changed during that time: Zoom is now a household name; there have been fun viral moments like “I am not a cat”; and unfortunately depressing news about death and job losses. In many ways our priorities changed as we watched this unfold on the . . . [more]
Despite hiccups on vaccine receipt and distribution, we now know that by the end of the year, there’s a very good chance we’ll all be back to normal. That means there’s still another considerable block of time to get through first. We don’t want to be in either survival or neutral mode forever. So as we finish weathering this storm, what should law firm strategy look like for the remainder of 2021?
First and foremost, stick to your longer-term strategic plan. The point of a strategic plan is that it helps to guide a firm through the goods times, and . . . [more]
Anyone that has followed me over the past 15 years knows that I am a firm believer in the power of writing a book for business development purposes. In my view, it is a big audacious business card—period! If written as a business development tool—it lets prospective clients inside your world and how you think. It is a strong credibility builder since “you wrote the book on the subject.” Over the past 15 years, I have written 6 books, which have led to millions of dollars in revenue. But NOT in book sales. Yes, I have been an Amazon bestseller, . . . [more]
We have all heard that the reward for doing good work is more work but there are a lot of factors that contribute to a client sending you more work and for being a strong referral for you.
For starters, we need to understand that the client that sent you the work in the first place is not focused on you. They are focussed on their own business and their current issues. Hard to believe but it is true. By actively staying in front of your clients and empathizing with their needs, you will ensure they do think about you, . . . [more]
Over the years, I’ve had the honour of being invited into many law firms to examine and make recommendations on their strategy, structure, practice areas, compensation, management, leadership, and marketing.
My initial advice is always the same: start with a strategic plan so you understand your long-term goals before you attempt any short-term implementation. But aside from this, my advice tends to move quickly to ensuring the right people are doing the right things. This might require some process or structural re-organization within the firm but the end of the day it all boils down to one thing: establish and . . . [more]
One of the easiest ways to stay on track with an activity is to make a list. For many people, business development doesn’t come naturally making it easy to put off. By making and sticking to a list, you will begin to form a habit around business development to the point you eventually don’t even know you are doing it.
I have used contact lists with lawyers for years as a simple reminder of people that the lawyer wants or should keep in touch with throughout the year. The best part is that it works at every level of practice. . . . [more]
Austrian economist Joseph Schumpeter developed the theory of creative destruction to describe how something good, and even much needed, can come out of a tragedy. The theory suggests that some businesses must die and paradigms must be “swept away” in order to make room for new ones that will better survive the future.
This is a concept found in nature. For example, we know that left to their own devices, forests will burn down from time to time to clean out the forest floor and force a renewal. While it might feel heartless to apply the same principle to business, . . . [more]
It all started out well. Like most years, in the fall of 2019 we looked at the strategic plan for the firm, growth opportunities and developed a targeted approach and budget for 2020. As we roll into the fall of 2020 planning is different. Mentally this has been a year like no other in recent times and as a marketer it is one where we have constantly be making adjustments to our plan.
With the benefit of hindsight, planning for 2021 will look different. Our master plans, our insight and our playbook will change. There are annual items from previous . . . [more]
Most firms have come to appreciate the value of practice groups in their management and marketing; but not everyone knows why they are more powerful than operating without them, which may result in their under-utilization. In this post I’ll explain the evolution of practice groups, what they look like today, and how you can use them to more effectively drive the business objectives of the firm.
The Evolution of Practice Groups
Initially, law practices were based on the personal reputation of the principal. In time, lawyers realized that if they pooled their resources, they could split costs while still maintain . . . [more]
I am a proponent of using charitable events as a way of getting people together to promote your firm. Internally these events can be great for employee engagement. Externally they are great brand building exercises. Individually they can be great business development opportunities. As we work through the global pandemic, many of these activities have been modified or cancelled all together.
Like many of you, I have certain causes that are close to me. For that past few years I have participated in the Northern Pass (#NorthernPass2020) which is a cycling event in Muskoka that raises money for Princess Margaret . . . [more]