Innovative Solutions for Innovative Pricing
Each week, the Legal Marketing Association pulls the most buzzworthy trends in marketing to help inspire its members. This week, cover new strategies and ideas for your business development and client retention plan, starting with "Law Firm Business Development: What Are You Doing to Get Clients?" by Above the Law.
1. Law Firm Business Development: What Are You Doing To Get Clients?
Business development for your law firm is an ongoing project. No matter how good (or bad) business is going you should do a check up on your business development efforts at least once a year. Read more from Above the Law.
2. A Blueprint for Legal Department Budgeting and Forecasting – Part 1
Are you accountable for tracking your legal department’s spend? Are you currently using matter budgets, but don’t feel that you have a good way to predict your organization’s future legal spend accurately? Or, is your legal department maybe one of the approximately 40 percent that don’t do any budgeting at all? If you fall into any one of these groups, I encourage you to read on. Read more on Business of Law Blog.
3. Beyond Excellent Legal Services: How Law Firms Can Add More Value
Excellent legal service is just the beginning for law firms and clients. As Ama Romaine, General Counsel at Johns Hopkins University Applied Physics Lab points out, “did you win the litigation or did you close the deal efficiently, effectively advocating for the client’s needs? Read more from National Law Review.
4. Road(s) Soon To Be Taken
In about 10 days, I will be presenting as part of a panel at the Thomson Reuters 24th Annual Marketing Partner Forum. The session I will be presenting will be focused on differentiation in a highly competitive market. Aside from being a hugely important topic at this moment in time generally as we usher in 2017, the topic is a reaction to the 2017 State of the Legal Market Georgetown/Peer Monitor Report which is now available. Read more on 3 Geeks and a Law Blogs.
5. How Law Firms Can Fix Their Cash Flow in 7 Simple Steps
There are a lot of law firms out there with a cash flow problem. While it’s easy to blame your cash flow issues on slow-paying clients, the problem really lies with you and your lack of a process to ensure you get paid for your work. Read more from The Rainmaker Blog.
Check back weekly for more industry trends from around the Web!