Often when someone takes over a new position where they are responsible for, dare I say it, the sales funnel, one of their goals is to predict revenue. Most firms try to predict revenue, albeit with different levels of success. Some firms use a backlogs or potentials method for proposal tracking, others ask the professionals to maintain a rolling 12 month projection, and others may simply set a target hoping for the best. One thing is for sure, targeting revenue in professional services is different than for products but a level of predictability is still required.

Companies that sell widgets . . . [more]

I wasn’t planning on writing about best practices in client seminars this month, but two bits of disparate information made me reconsider. First, BTI’s research summarized in the April 6 Mad Clientist blog indicates that the largest 30 firms in the world are diverting budget from general audience events, seminars and webinars to fund strategic, highly-targeted client development initiatives. These initiatives can and should include customized programming for clients. [1] Second, a legal marketing colleague shared a somewhat surprising client seminar planning experience: on the eve of the seminar, very little lawyer-side preparation had been done, despite his cajoling, stalking . . . [more]

Almost every time I sit down with a law firm for the first time, someone around the table asks me what “really works” when it comes to legal marketing. Is it Google AdWords? Blogging? This new “content marketing” stuff someone’s heard about? Maybe marketing to our referral sources instead of directly to clients. What about social media – is there anything to that? Videos – do we really need those? Or maybe we should focus on our annual client event and do that up on a larger scale?

Fair questions all. And I can almost hear the plaintive longing in . . . [more]

Picture this. You finally get together with a classmate, having rescheduled three times. He opens the conversation with: “So, how are things, busy?” You run your fingers through your hair and tell him you can’t remember when you had a weekend off, you missed your kid’s concert, yada, yada, yada, and you end with “yeah, I’m crazy busy.”

Was his question just idle chitchat—or could he now be thinking that maybe he shouldn’t refer a plum piece of work to you?

Or picture it this way. You schedule a lunch with a classmate because you want to explore the possibility . . . [more]

If you have ever had the un-enviable job of re-building a corporate intranet you will know where I am coming from. Corporate intranets tend to be a mass repository of just about everything, from everyone that your firm has ever produced. Intranets unintentionally become dumping grounds that are never cleaned up. Of course much of the content was important at some point, so how do you turn a vast wasteland of information into something usable, friendly and fit within your culture? It starts with a rethink.

There are many articles about how to get the project started, approved, launched, etc. . . . [more]

Complacency is a dangerous force. It blinds us to possible threats and keeps us from pursuing opportunities. It lulls us to sleep…and by the time we wake up, it may be too late.

And let’s face it; it can be easy to become complacent. If your practice is running smoothly, if you’re making enough to pay the bills, and if you know there are clients with cases in your pipeline…it’s easy to let your guard down.

But when that happens, you’re in danger. And let me tell you something…there’s NEVER any good reason to become complacent. There are always opportunities . . . [more]

A good portion of my time to date this year has been devoted to planning and launching Innovation Month at my firm, including our kick-off event called the “Osler Big Law Hackathon”, an event hosted in partnership with Ryerson’s Legal Innovation Zone to examine how big law could be done differently.

As part of the organizing committee, I got a better understanding of how my firm is approaching innovation (it’s a well-developed and experienced initiative, as it turns out). I also took it as an opportunity to see what all the fuss is about. Innovation is the trending topic du . . . [more]

Almost two years ago, I asked here on Slaw “Is It Time For A National Retail Law Firm?”. I argued that some twenty plus years on from the dawn of the national firm model in the business law context, there was a growing opportunity – at least to my mind – for the emergence of a similarly scaled venture focused on consumer-oriented legal services: family law, personal injury, simple wills, basic contracts and other legal services required by individuals and small businesses.

I left off that earlier column as follows:

The gradual loosening of inter-jurisdictional practice rules, the twenty-year . . . [more]

The friendly folks at SLAW remind us regularly when columns are due. On receiving one such reminder when I was at a family gathering, I asked everyone what I should write about next (my family happens to include five young lawyers). The youngest of them responded instantly: “Courtesy—and how little of it young lawyers have.”

This, from a first-year associate? It’s the kind of comment I expect from a grizzled veteran, accompanied by the inevitable “I dunno, kids today….” rant. When I asked her to elaborate, she noted that communications quickly become personal, as in: “If you had read my . . . [more]

Have you ever upset a client so much you thought there was no way you will ever be able to work for them again? Maybe it’s ok, as you did not want to work with that client again. But what if you do? What if they are one of your key or significant clients? Worse yet, what if they tell others about the poor experience?

In many ways our professional lives and our personal lives intersect, even if we don’t think they do. It has less to do with what we are doing and more to do with what we, . . . [more]

Once again, our team at fSquared Marketing are thrilled to present a group of wonderful legal marketing experts who are willing to share their wisdom related to the trends they foresee for the coming year.

Their predictions this year include mobilization of content, utilizing existing CRM systems to leverage and grow relationships, the evolution of client service delivery, storytelling as the PR tool of the moment, digital marketing (websites & social media) opening opportunities for legal directory exposure for smaller firms, and firms building marketing teams of the future.

A short excerpt from each contributor can be found below. To . . . [more]

It is a wise businessperson that asks… “If I invest X what will my return on investment (ROI) be?”

A good question… not so easy to answer.

There are many wrong ways for lawyers to calculate ROI.

The investment industry will calculate the ROI as: the return of an investment is divided by the cost of the investment; the result is a percentage. Some firms simply use multiples: for example, spend $1,000 and get a case for $10,000, and the return is 10 times the investment. Others use the comparison of hard dollar cost to hard dollar profit.

For most . . . [more]