Marketing and Business Development Consulting For Law Firms
The competition among law firms for business clients is an increasingly high-risk, high-reward affair. The American Lawyer calculated that the 200 biggest law firms in the United States generated roughly $100 billion in annual revenues. This is approximately half of the total spent on all the lawyers in the country. Moreover, equity partners are increasing their share of pie, as the number of counsel and non-equity partners grows.
In these market conditions, almost every firm does the marketing basics pretty well. They all have websites and very few lawyers need to be sold on the importance of rainmaking or the potential benefits of networking. But firms differ wildly in the strategies they pursue to attract their best clients and the effectiveness of their efforts to implement such strategies. It is more important than ever to make conscious decisions about what markets to enter (and leave) and where to position your firm in those markets. That is the essence of the service we provide to our clients.
Marketing Business Development Case Studies
Gideon Grunfeld has since 2005 advised law firms that serve corporate clients and other sophisticated consumers of legal services in connection with a wide array of issues, including the following:
- How a business litigation firm can diversify practice areas when its clients exert pricing pressure and the practice is increasingly perceived as a commodity.
- How a mid-sized firm can improve cross marketing between partners, especially when transactional partners fear that litigators will lose a case and jeopardize the entire client relationship.
- How a transactional real estate practice delegated certain networking responsibilities to senior associates, so the firm’s dominant rainmaker is freed up to pursue more lucrative work.
- How a business immigration firm facing severe cash flow crisis increased its revenues by more than 40% by overhauling its fee structure and focusing on clients from two market segments that generated repeat business.
- How a patent trial lawyer attracted two significant clients by crafting and delivering a provocative speech at a trade association meeting attended by approximately 50 in-house counsel.
- How a partner at AmLaw 100 firm attracted class-action defense work by helping organize a conference attended by in house litigation counsel.
- How a patent lawyer received more client leads after being coached for a media interview that appeared on the website of a major legal publication and then subsequently on the firm’s website.
- How a firm that represents high-end family-owned businesses had a record year in 2014 by cutting back on efforts to meet new referral sources and instead focusing on having face-to-face meetings with established referral sources.
We generally work on a project basis, so our clients will know what our services cost before deciding to retain us.
Because he’s been there before. For almost ten years he was a business litigator at Skadden Arps and Covington & Burling. His advice isn’t based on the latest marketing fads. It’s based on more than 20 years of hands-on experience as a lawyer and business advisor. He has an intimate knowledge of what corporate clients want from their lawyers and how to attract work from sophisticated clients. Moreover, Gideon knows lawyers and how they think and operate. Too often law firm attorneys are reluctant to receive advice from the marketing department. They are justifiably allergic to marketing fluff and thrive when collaborating with someone who they can easily visualize as a colleague.