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Buyers go through a six-step decision-making process before purchasing legal services, according to marketing professor John Burnett. Marketers make an essential difference at each step.
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A burst in employment law practice is the silver lining in the recession for many law firms, with employees challenging their terminations, non-compete agreements, and misclassification of employees as independent contractors.
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When two Pokens touch, digital identification information is exchanged, including a photo, name, address, telephone number, email address and links to various social networks, including MyLegal.com, LinkedIn, Twitter and Facebook, according to MyLegal.com CEO Lisa DiMonte.
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Corporate governance, labor and employment, litigation, regulatory and intellectual property are hot practices, according to an InsideCounsel survey. And most clients are happy with their law firm relationships!
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You can build a practice that is virtually free of problem clients and has a strong cash flow. Dustin Cole emphasizes choosing clients carefully and communicating frequently.
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Clients referred by word of mouth will produce more profit, stay longer with the firm, and have a longer customer lifetime, according to a new study "Referrral Programs and Customer Value" by professor Christophe Van den Bulte of the Wharton School.
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New research shows that lawyers are working harder and have fewer resources. There are six trends affecting law departments that will lead to new work for private law firms. Follow Larry Bodine's five tips to capture this legal work.
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Smart law firms have a by-the-numbers process to determine when it will participate in an RFP, according to marketer Sarah Reavley. This is how to avoid corporate fee-fishing and efforts to keep the incumbent on their toes.
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A new survey specifies exactly how important referrals are: referred work typically accounts for 26% of a US law firm’s income. To boost your incoming referrals, there are 5 tips a lawyer should follow.
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Law firms that add value to a client relationship will get hired over and over again. The Law Firm Value Committee, composed of personnel from eight major law firms, developed a checklist, with activities ranging from visiting a client's premises to instituting "kaizen" programs.
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Do you have at least mild glossophobia—the fear of public speaking? Wells Anderson and Larry Bodine describe how to become a good speaker and attract more clients.
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It turns out that many clients are not interested in alternate fee arrangements, according to new research. Demand for AFAs is peaking, suggesting that the profession will return to hourly billing as the economy improves.
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In-house attorneys now are using new media platforms to obtain their legal, business, and industry news and information, according to the 2010 Corporate Counsel New Media Engagement Survey.
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The bottom line, according to marketing expert Michael G. Cummings, is that lawyers should discuss and test the fee question with a qualified client before doing a lot of work in preparing a proposal. Prospective clients have to be willing to pay you the fees you need to solve their problem at a reasonable profit for you and your firm.
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What do general counsel want from outside counsel? They want lawyers who respect their budgets, deadlines and communication styles, according to writer Janet Raasch. They want lawyers who know their businesses and are tech-savvy.
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If winning business really is a high priority for your firm, everyone needs to act as though it is. You need to change behaviors to get real results.
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About 69 percent of the survey’s respondents say that the legal market is stronger today than it was six months ago, according to the Citi Private Bank Law Firm Group.
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The trend in lateral lawyer moves is on the rise. Creating a lateral integration program is essential to make sure your new laterals hit the ground running, find their fit in your firm culture, and contribute to the firm's success according to marketer Katie Rutter.
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The Curriculum includes 27 courses divided into four core competencies: building relationships to build business, building your profile, communicating effectively and serving clients.
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The legal profession has begun an economic recovery, but the recession has permanently changed the relationship between lawyers and business clients. Marketing expert Larry Bodine looks at new trends in practice development and how lawyers can adapt and build business in the new economy.
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It’s easy for lawyers to forget about marketing when they are immersed in work. "The Marketing Minute" is a brief, useful internal email sent by Smith Moore Leatherwood's marketing partner remind them to be alert for practice development opportunities in everyday situations.
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Pillsbury's online VNR "New Faces of Energy" featured clients and resulted in new business. It also attracted 104,000 website hits and coverage in 133 media outlets, according to PR Director Sandi Sonnenfeld.
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Researchers at Acritas surveyed 500 leading general counsel and found that only 5 per cent considered the directories relevant in hiring a law firm. Only 3 per cent said that they have been influenced significantly by information in the directories.
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"AFA" is shorthand for "alternative fee arrangements." One problem is that most lawyers in private practice are unaware of the "ACC Value Challenge," which is the principal driver for AFAs. The other problem is that most clients haven't heard of AFAs either.
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Rainmaker Mary Ann Dunham of 450-lawyer Buchanan Ingersoll is highly active in the city’s business organizations, she efficiently seeks out opportunities to connect with business executives - and turn them into clients.
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Mistakes in rainmaking include failure to follow up, according to Richard M. Goldstein, a practice group chair at Bilzin Sumberg. Networking where there are no clients and sitting in your office instead of meeting people for lunch are also mistakes.
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The Small Firm Rainmaker of the Year is Christopher Marston of Exemplar, a law firm in Boston. By offering soup-to-nuts service to entrepreneurs and startup businesses, charging fees in ways highly desirable to clients plus applying business development that truly works – his firm raised revenues 48% last year.
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To get business from corporate clients, law firms must offer budgets, alternative fees, and e-billing, according to research conducted by Rob Thomas of Serengeti Law.
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The data said it couldn't be done, but lawyer Robert C. White, Jr. sent a Tweet and got prospective clients to reply. He is one of many lawyers who have anecdotes of getting business on the mini-messaging site.
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Have you been in a traffic accident? Simply text 24-00-00 and you'll get Las Vegas trial lawyer Ed Bernstein, who is leading a huge wave of "SMS Advertising" that is all the rage in corporate marketing.
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Business development expert Michael Cummings interviews Juan Morillo and learns how one of American Lawyer's Top 50 Young Litigators is building a world class practice through entrepreneurial zeal and pro-active business creation.
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Lesson #1 for associates who want to generate business is to realize they are in the relationship business, according to marketing expert Michael Cummings. Learning 3 lessons and avoiding 7 key mistakes will transform a worker been into a rainmaker.
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Associates may resent being asked to generate new businesses. They say they want “work-life balance” when you suspect they just want to go home early. Some of the associates don’t even care if they become a partner. But you can motivate these “drone” lawyers -- the solution is to make law practice cool again.
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Your legal work may have been stellar, but unhappiness with cost and billing, lack of response, incompetence, failure to understand client needs and a conflict with a partner or staff will make clients leave.
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A collection of business owners suggest meeting client pain points, paying attention to good clients, and kicking up your email marketing, according to marketer Anita Campbell.
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The marketers at Disney World know they are not selling rides, parades or cartoon characters. They are selling an experience. The same principles apply to law firms. Legal service must be excellent, but it the overall experience is what matters.
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At this time of year, most attorneys set ambitious marketing goals. With some frank and tough talk, Michael Cummings advises you to change your mindset and stop the habits that limit you.
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Membership in the Legal Marketing Association is down 14 percent among full members during the last 12 months. Hardest hit are jobs in law firm branch offices and public relations professionals.
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Healthcare, labor and employment, business litigation and energy will be the hot law practices in 2010, according to a new survey. Real estate, not surprisingly, has gone cold.
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Margaret Grisdela outlines ten top law practice areas with expected high growth rates in 2010 and beyond. Attorneys who set themselves apart as thought leaders on these topics—through speaking, writing, and press coverage—will gain a competitive advantage.
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According to a survey, 46% of in-house lawyers say they have asked their outside counsel to lower billing rates but only 18% of firm lawyers report that they have done so. But in a surprise finding in a survey of TAGLaw firms, nearly half plan to offer rate cuts.
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"Change or die," is the message clients are sending to law firms. More than half of corporate counsel surveyed (58%) say they believe law firms are too profitable, according to the LexisNexis State of the Legal Industry Survey. This means clients feel they were ripped off, or overpaid for what they got from law firms.
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55% of law departments have used or plan to use alternative billing with outside counsel. Clients want predictability in their legal fees. ACC President Frederick Krebs said, "The firms that get ahead of this will have a tremendous advantage."
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A new survey revealed that 81% of managing partners expect to raise billing rates in 2010. They are either crazy, are drinking martinis before Noon or are ignoring the sea change occurring in commerce between lawyers and clients.
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"Flat" is the new "up" for profits in 2010. Law firms have cut overhead sharply in the recession, and now face angry clients who want to cut costs, get more value and have predictable fees. Marketers will ride to the rescue by focusing on growing clients, finding new targets, plus sales training and coaching.
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The state bar offered a marketing course on surviving the current economy, but the state Board of Bar Examines gave it zero credit. The Board head concedes it might be time to give CLE credit to course on "the stresses and strain of practicing law."
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Proskauer Rose was ranked the No. 1 firm in terms of marketing in the MLF 50 ranking. Find out how CMO Joe Calve created tangible business development opportunities and nurtured a dynamic biz-dev culture that put the firm at the top.
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Use the Byline3 system to market yourself by publishing articles, distributing reprints and optimizing your website so readers can find them. Marketer David Freedman shows how lawyers can extend their reach with search engine optimization and online social networking.
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The 2009 ACC-Serengeti survey of in-house counsel shows that controlling spending on outside law firms is the top priority for corporate lawyers. Responsiveness is the key deliverable now expected of outside counsel.
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Marketer Steve Barrett takes a sharp-eyed look at how well 15 of the most common marketing programs stack up when you look at their ROI, what they truly deliver in business relative to their costs. Especially in these tough times, you want invest in marketing initiatives that are high-yield and low-cost.
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Marketer Gail Paul includes ideas from four major categories: food, gadgets and cool stuff, travel amenities and lifestyle. You can survive the season and be unique and innovative to boot.
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A tsunami of change has formed, as an increasingly high percentage of new matters for large corporations are being subjected to some form of alternative fee structures. Learn what clients mean when they talk about "litigation by the bucket" and "concierge plans."
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For the second consecutive year, more corporations expect an increase in legal disputes, with a dramatic rise among smaller companies, according to a Fulbright & Jaworski's new litigation trends report.
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The Association of Corporate Counsel just launched a secret database where in-house lawyers can anonymously rank their law firms on a scale of 1 to 5. It combines the controversial features of Yelp.com and Avvo.com.
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Marketer Larry Bodine advises associates to find a mentor, visit clients at their offices, meet referral sources and prospective clients for lunch -- and dozens more tips for "worker bee" lawyers to turn into "rainmaker" owners.
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At the Total PMA conference, Larry Bodine reveals how lawyers should ask clients and prospects "where does it hurt?" in law firm marketing. Talk about the topic that is most interesting to clients: themselves. If they are talking, you are selling.
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It’s not what you know that counts, it’s whom you know. Investing the time to develop a wide network of informational resources, advisors, and prospects yields a return that exponentially increases over the years.
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Practice groups are repositioning to meet new legal needs, changing into client teams, and becoming industry task forces. Lawyers from multiple disciplines can give clients more timely, relevant and strategic counsel.
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An effective way for marketers to demonstrate their value to the firm is to send management a one-page, quickly-read summary of activities.
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As the economic crisis deepens, it’s time to re-evaluate your marketing efforts. Marketer Susan Van Dyke identifies five steps lawyers can take to boost their business.
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Blogger Adrian Dayton interviews Larry Bodine about business development strategy, how to show return-on-investment and using online social media -- including blogs, LinkedIn and Twitter.
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10 big issues prevent lawyers from being great in business development. Marketer Peter Kane takes us through a musical journey on how lawyers can overcome these obstacles.
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Updated! Larry Bodine reports that new research shows that 3% growth is on the way for law firms, layoffs are dwindling and the Index of Leading Indicators finds that the recession appears to be nearing an end.
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The firm made the "Hot List" because 40% of its total revenue comes from alternative fee arrangements, and it compensates attorneys based on accomplishing its clients’ goals rather than simply hours worked.
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As you would expect, most of the messages on Twitter are "total pointless babble," although there actually are some conversational tweets between people. The rest is news, spam, retweets and self-promotion.
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We are at the tipping point for law firms to change their business models, and one of the law firms leading the way into the future is Drinker Biddle, which has fully embraced the Association of Corporate Counsel's Value Challenge.
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The caveat with online social networking sites for attorneys is that they are designed to make contact with somebody, but it’s a waste of effort unless it results in a face-to-face meeting.
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A realization set in: attorneys don’t know how to market. They need to be taught business development skills – and fast – in order to hold on to existing clients and meet prospects.
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A new research report by Robert Half staffing shows that law firms are ramping up marketing efforts to combat the bad economy, with the vast majority conducting business development training.
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Savvy marketers reach for their kryptonite — the irrefutable element that overcomes all lawyer objections to new marketing initiatives, the factor that cannot be argued with, the singularity that cannot be distinguished away. The kryptonite is facts.
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New research shows that clients want professional firms to increase revenue growth, cut operating expenses, and demonstrate industry expertise.
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Discrimination claims filed with the EEOC are at a 44-year high, creating a burgeoning practice area for lawyers. EEOC actions are expected to grow now that the agency has a new director.
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Corporate counsel will be sending less work to law firms, will be shopping for value and believe law firms are not serious about changing their ways, according to a new Altman Weil study.
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Marketers can now view the LawMarketing Portal with their smart phones and PDAs, now that a special mobile version of the site -- designed for small screens -- is online. New research shows that 58% of Americans already own a web-enabled mobile phone.
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Great customer service is the key to happy clients. Business development advisor Larry Bodine offers a dozen tips to hold onto loyal clients who will recommend you.
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Dykema targeted industries, identified high-value companies, and unleashed industry teams of lawyers to capture the work. When they tallied the numbers they had exceeded their established cross-selling and new client revenue goals by more than double.
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Schmidt Marketing conducted surveys of what all levels of marketers earn in 8 locales: DC, Atanta, Chicago, Florida, Minneapolis, NYC, San Francisco and Texas. The highest compensation is for a CMO in DC: $550,000.
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In the last few months, law firms have become increasingly aware that training lawyers in marketing and business development is a key way to drive business.
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This unique class in professional services marketing led by Prof. Silvia Hodges covers case studies, selling techniques and building business relationships. Graduates have gone on to architectural, accounting and law firm marketing jobs worldwide -- including the first marketing director in Israel.
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The more time you spend with a customer before the pitch, the greater your chance of making a sale, according to author Joey Asher. The client becomes invested in the process and has time to get to like you.
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Marketing is not selling out. To attract clients, build on your marketing strengths, be authentic, write an elevator speech and mission statement and specialize, says attorney Diana Mercer.
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The LMA today gave Your Honor awards to law firms in 23 categories. the winning entires from Dykema of Detroit and Novack and Macey of Chicago actually made money for their firms.
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You have a marketing plan, offer great customer service and network like crazy -- but you're still not making money! Lawyer Diana Mercer advises that rather than thinking up the "next big thing," find just two or three things to focus on.
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Rainmakers are invisible dot connectors, as recounted by reviewer Cecilia Alers. According to Rainmaker Marketing, the best rainmakers prove how valuable they are instead of how smart.
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It's a recovery economy, so fearful lawyers should not hibernate in their offices, according to marketer Cindy Rold. Instead, she offers nine ways to use your "down time" to strengthen relationships by networking.
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Before the economic tsunami hit, Goodwin Procter discovered that banks would soon seek private sources of capital. The firm teamed up its private equity and financial servces practices in a successful cross-selling initiative.
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In a major shift, the economic pendulum has swung away from megafirms and in favor of regional and mid-sized firms, which can offer equally-good service at much lower rates.
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Roberta "Bobbi" Liebenberg, Chair of the ABA Commission on Women in the Profession, discusses strategies to help women attorneys develop more business and build successful careers in the legal profession.
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There is a surge of employment discrimination complaints prompted by the millions of people laid off from their jobs, Larry Bodine reports. Now is the time law firms should promote their employment practices.
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Winners Andrews Kurth, Goodwin Procter and Patton Boggs demonstrated leadership in CRM, public relations, podcasting and other marketing disciplines.
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Two leading advisors to major law firms predicted 2009 would bring a declining demand for legal services, a 15% drop in net income, inability to raise rates, additional layoffs, heavier fee discounting and expenses rising faster than revenues.
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The BTI Consulting Group and Smock Sterling management consultants both confirm that litigation will be the area of practice that leads the legal profession back to prosperity.
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Two offices developed a team marketing strategy that triggered new business, increased business from existing clients and capitalized on developing economic opportunities across southeastern Louisiana.
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A Canadian credit union launched a guerilla marketing campaign to reinforce a message of safety and strength. As reported by Jeffry Pilcher, FirstOntario placed bikes, park benches, fire hydrants and bubble wrap in unexpected ways around key communities.
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There are unique strategies you can pursue when networking as a single attorney, and these differ from the options that married people have. According to PR expert Christy Burke, certain doors are wide open for single people that are closed to their married counterparts.
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Recessions can be a true test of "survival of the fittest" for law firms. Larry Bodine describes four methods to exploit the weak points of a competitor's client relationships and lure prize clients away without violating ethical guidelines.
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Created by a nationally renowned illustrator, the hilarious holiday card of Hamilton Brook Smith Reyonds in Boston explains Thanksgiving, presidential patents and the meaning of pumpkin pi.
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"Rainmaking Action Steps" are the cornerstone of author Sara Holtz's new book. Reviewer Vickie Gray finds a wealth of time honored advice, as well as some new ideas in this marketing how-to manual.
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As the law firm recession enters its second year, new research shows that corporations are sending less work outside, rate increases will be smaller in 2008 than in the past, and +40% corporations have fired some of their law firms.
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Lawyers can generate a lot more new files by asking questions, and silently listening to the prospective client answer. If they're talking, you are selling. Jill Konrath shows what to do and what not to say.
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To be a successful lawyer is to start building a Rolodex of names and contact information. Recruiter Sharon Mahn recommends new associates go back as far as they can to build up a network -- high school teachers, neighborhood business proprietors and even fellow lawyers.
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Lawyers need to meet people to generate business and to retain clients, according to author Ari Kaplan. He suggests lawyers join a sports league, the chamber of commerce, and hook up with law school classmates.
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An associate with Withers Bergman in New York and Greenwich, Peter brought in new business by finding his niche early, staying active in business development on a day-to-day basis, plus making relationships a centerpiece of his approach.
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Litigator Peter H. Klee is the top rainmaker at Luce Forward in San Diego. His business development program is done the “old fashioned” way: by consistently winning in court, building and maintaining an excellent reputation, cultivating client relationships and growing his practice by $10-$15 million per year.
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Marketing pioneer Bruce Marcus advised CMOs to forget about branding, and concentrate on building practices and client teams.
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In this excerpt from his best seller, Rain Making: Attract New Clients No Matter What Your Field, author Ford Harding offers advice and examples of how to add senior executives and CEO's to your network.
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The preponderance of law firms have a profit margin of 30% or greater, according to new research by RainToday.com. The median rate for larger law firms is $525 per hour for the highest-level partners.
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Is it time to build up your marketing team? Susan Van Dyke describes the differences between marketing large and small firms, how to stretch your resources, and the functions and staffing of an efficient marketing department.
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The Chief Marketing Officer of Goodwin Procter was selected as the CMO of the Year in the Excellence in Legal Marketing Awards. The winners were honored at the 15th annual Marketing Partner Forum held in Palm Beach, Florida.
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The Marketing Partner at Schwabe, Williamson & Wyatt doubled its revenues and earned national recognition. He did it by giving credit and appropriate compensation for originations, creating Strategic Marketing Units and making presentations on how clients choose lawyers. Learn how your firm can apply his lucrative methods. [Membership required.]
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There is no single right way to become a rainmaker, according to marketing consultant Monica Goebel. Successful rainmakers draw on their own personal strengths. Associates seeking to make the transition from worker bee to rainmaker must identify their own unique skills, cultivate relationships and write personal business development plans.
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Women lawyers have a natural aptitude for rainmaking, but law firms must begin providing them with the support and mentoring they need to reach their full potential. Marketing expert Larry Bodine gives constructive ideas to help firms foster women attorneys' business development skills.
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Although they are essential to any law practice, all clients are not created equal. How can you end a bad business relationship gracefully? Here are 10 tips to help you rid your law firm tactfully of penny-pinching, unreliable or abusive clients.
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Cal Harrison explains that the "I'm too busy" excuse translates into a number of different meanings, from feeling overwhelmed and overextended to not knowing how to close the deal. Identify the real reason, address it, and you have paved the way for more productive business development.
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Are you serious about growing your practice and becoming more proficient at business development? ORIGINATE! is our new monthly online newsletter with exclusive articles, tips and tactics from experts you can rely on within the legal profession. See the September issue for free.
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It is essential to strengthen and expand relationships with your most important clients, according to marketer Despina Kartson. At a typical law firm, 80 percent of its work comes from only 20 percent of its clients. That means that client teams and client surveys are extremely important.
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According to Scott Sorrels, a partner at Powell Goldstein, the elements of business development success are hiring a cohesive team of marketing professionals, execution of strategic business plans and a culture where everyone in the firm feels invested in business generation.
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