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Need-to-Know News |
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Is there a sea change toward AFAs? In-house counsel give it a solid “maybe,” according to a new InsideCounsel - Leader & Berkon survey.
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Career consultant Kate Neville says there are jobs to be found in employment law, healthcare, tech transactions and corporate compliance. She offers four key tips to land these jobs.
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The points that corporate general counsel like about their law firms lead to getting more business. These include offering alternative fees, having an effective website, going the extra mile, offering better rates and knowing the client’s business.
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Are you generating $3.33 for every $1 spent of marketing? Determine your marketing ROI with a formula including the sum of your advertising and referral fees paid, divided into your total revenue number, according to marketer Arnie Malham.
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The recession has forced 94.5% of law firms to offer alternative fee arrangements. Legal pioneer Patrick Lamb describes the what, when and how to create "AFAs" or "value billing," as he calls it in his new book.
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The LawMarketing Portal iPhone app has just gotten better and now includes technology and news article plus the ability to email, Tweet or save articles.
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Coaching is a true investment - in yourself. According to Ed Poll, a coach can help you achieve that success more quickly than you would on your own, serving as an objective ally who can listen to your challenges and provide honest feedback and insight.
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A trio of in-house lawyers described things that law firms are doing right to maintain good relationships, and which marketing-savvy firms can turn into business development tactics.
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This policy governs employee use of Facebook, LinkedIn, Twitter and YouTube. With approximately 900 lawyers and 18 offices worldwide, McGuireWoods represents clients in many industries.
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Taglines follow a variety of formats and styles, according to web marketer Steve Matthews: repetitive pairs, patterns, puns, and wordplay, all with the goal of describing the firm’s philosophy.
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Fordham will have a course on “Law Firm Marketing” taught by Dr. Silvia Hodges. No marketing course is offered in any JD program at any other law school.
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Tim Damschroder, with Detroit-based Bodman, and Holly J. Fujie, in the Los Angeles office of Buchalter Nemer, show how relationships result in in new business.
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Marketer Sandra Neihaus offers four guidelines to make a graphic on your website powerful: Does it convey the right feeling? Does it add information? Is it (at least fairly) unique? Is it contextually cropped?
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In this issue, Originate! magazine features the three winners of the 2009 Rainmaker of the Year awards. Learn how Mary Ann Dunham, Christopher Marston and associate Elizabeth Gunn bring in new business.
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Staying offline is a great way to be invisible to new clients, but some law firms have no web sites and don't miss them. By relying on referrals, these firms believe they have all the work they want.
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Elizabeth L. Gunn of DurretteBradshaw, an 18-lawyer boutique firm based in Richmond, VA, overcame two big disadvantages by devoting laser-like attention in three areas - client service, key associations and peer networking.
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The most productive marketing tool a firm can employ is implementation of in-depth client audits. They produce valuable marketing intelligence so that a firm can remain competitive and solvent, particularly during bad economic times.
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Like global television, virtual panels are designed to give law firms the ability to conduct live conferences with multiple clients around the world -- a marketing point of distinction.
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Plaintiff lawyers refer to them as "magic jurisdictions," where judges rule against defendants, allow novel legal theories, and willingly certify class actions, according to the American Tort Reform Foundation.
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Online community leader Michael Mintz interviews Larry Bodine in a Skype conversation about using technology to meet new clients.
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Houston oilfield equipment maker FMC Technologies awards law firms bonuses of up to 200%, by evaulating law firms on six criteria.
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She is the Business Development Director of Curtis, Mallet-Prevost, Colt & Mosle in New York, and won by launching marketing initiatives on Facebook, LinkedIn, Twitter, blogs and the firm website.
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In M&A, "buying green" will grow, carving out assets will get messy and heightened shareholder activism will continue, according to a report by Torys of Toronto.
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Optimizing website content means attracting people -- clients, prospects, referral sources and other key audiences -- to your site while they’re online. David Freedman outlines three ways to do it.
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46% of law firms count no women at all in their top 10 rainmakers. As a result, women do not play dominant roles in law firm rainmaking, which also impacts their prospects for leadership and compensation.
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James King, in-house counsel of The Boeing Company in Pennsylvania, introduced six ways lawyers can lose a client and steps to avoid those landmines.
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The economy is recovering, but this recession will have a greater impact on the legal profession than any other one in the last 70 years. 2010 will be a year of continued challenge and change.
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Companies are successfully pushing their outside counsel to abandon the billable hour, a new survey indicates. "People are assuming the change is here to stay," says Susan Hackett of the ACC.
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Litigation demand increased by 1.8 percent during the first three quarters of 2009, substantiating a 2009 litigation trends report released on Oct. 15 by Fulbright & Jaworski.
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A new BTI study shows that the top business development activities are peer referrals, followed by in‐person scheduled introductory meetings. Being quoted, speaking and writing articles for the trade press are also effective.
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Commerce between lawyers and clients has changed permanently. Clients don't want the billable hour, they want value pricing, as career marketing professor Dr. John Burnett explains.
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Clients are insisting on alternative fees, and the General Counsel Roundtable has a worksheet on how to calculate them. Thanks to Dan Currell, Managing Director of the Corporate Executive Board for this worksheet.
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In the wake of law firm closures, widespread attorney layoffs and pressure on fees, now is the time to distinguish your firm as an innovator. Many firms will not be able to make the transition, as marketer Ronda Muir foresees the future.
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More than 30 law firms came to the exhibit floor of the American Corporate Counsel annual meeting in Boston, with a large contingent from Canada. Gowlings gave out the BEST tchotchke.
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Rainmakers like Richard Rymond in Ohio are bringing in new business with fixed fees, industry groups, more work from current clients, adding value and saving clients money.
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Too often, “silos” develop within law firms. According to reviewer Patrick Kelly, author Suzanne Lowe provides concepts for tearing silos down and offers templates for a starting point for changing your firm’s organizational framework.
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Lawyers are skeptical, autonomous, introverted, resistant to new ideas, urgent and easily discouraged by setbacks, says marketing consultant Mark Beese. Leaders, on the other hand, tend to be trusting, team-oriented, social, open to new ideas, strategic and resilient.
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The recession has changed the legal profession, according to Working Mother magazine. Now is the time to push through reforms that directly benefit work-life balance and allow working moms to succeed both at home and in the court room.
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Fixed fees benefit both in-house and law firms: reduced billing hassles, more predictable cost to the client, more predictable and timely payments to the firm, and better alignment between the cost and the value of the legal service.
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The bright spot for law firms is that demand growth for bankruptcy is up 22% compared to a year ago, according to a new Hildebrandt report. Business bankruptcy filings increased from 14,319 nationwide in Q1 2009 to 16,014 in Q2.
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Many clients want an alternative to hourly billing as a way to manage their legal costs. But in uncertain financial times, law firms must be aware of the risks involved and how to contain them.
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Many clients are unhappy with large law firms, and now is the time for mid-size competitors to lure them away, according to a panel on business development held at the 2009 ABA Annual Meeting in Chicago.
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Lawyers can now plan strategically, by knowing what a competitor charges, which practices earn the top rates, and when and what kind of alternative fee to offer.
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To cut costs during the recession, U.S. businesses increasingly are handing work to less expensive small and midsize firms, typically those with fewer than 200 attorneys. Things are so good at some smaller firms that they're actually hiring attorneys to keep up with new business.
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The New York Court of Appeals reversed a preposterous 2006 ruling that held a plaintiff's attorney liable for faxing newsletters about legal malpractice trends.
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To network successfully in the course of a job search, you must first develop a personal brand and then clearly communicate it in a wide range of traditional and electronic networks.
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Rainmakers Peter Bilfield, Patrick Callahan, Lorelei Graham and Wilton McDonald II described their business-getting techniques at the annual LSSO Raindance conference in Chicago.
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The right questions give a huge advantage to lawyers in developing new business, according to consultant John Timperley. He offers numerous questions that will demonstrate that you are astute and, most importantly, interested.
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For many of us, remembering names is difficult, but it is extremely important in building relationships. Lawyer Patrick D. Kelly offers a dozen mnemonic tips to recall these key words to establishing rapport.
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Author Joey Asher outlines the five points that are fundamental to successful pitches to prospective clients, according to reviewer Steve Barrett.
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"Keep your hands off the logo," was the advice given to marketer Melanie Green. But then the firm decided to sponsor an upcoming Super Bowl and a change became necessary. That's when Flight 317 took off.
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Law firms have more than 30 networks they can join, with the aim of generating more referral business and sharing information and expertise.
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Lawyer Robert Kraft decided to put his firm's marketing efforts into something they already had: themselves and their staff. "I routinely remind our employees that we're all in marketing. In a small firm, everyone must contribute to the effort," he said.
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In this satire, lawyer Jay Shepherd noticed that his Starbucks had changed, with heavy mahogany paneling and expensive modern art. He eventually got his latte, plus a surprise invoice later.
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The time-tested methods of networking, publicity, writing, speaking and educational events still work.
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A new CMO Council study implores marketers to measure and optimize customer experience and advocacy. There is a critical need to improve listening and responsiveness across organizations.
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Sued and vilified since it started, Avvo picks up fresh criticism from bloggers Scott H. Greenfield, Susan Cartier Liebel and Nicole Black.
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The New Jersey Supreme Court ruled December 17 that it is ethical for lawyers to advertise in Super Lawyers and Best Lawyers listings. This vacates the notoritious Opinon 39 of the committee on Attorney Advertising, which in 2006 prohibited it.
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The complaints start with billing, keeping a business perspective, failure to develop personal relationships, and continues with lack of loyalty, cold calls and breakdowns in communication.
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Starting with six marketers serving 300 lawyers, Jill Huse restructured Moore & Van Allen's marketing department to focus on practice development (sales) with impressive results, including a first place marketing award.
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Well-run marketing departments should be viewed as necessities to a firm’s bottom line. When management committees understand the importance of good marketing, they are less likely to cut budgets and jobs there.
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2009 bring bring a signficant downturn for the legal industry, according to a new report from Hildebrandt. Profits per partner in 2008 will on average be flat to a minus 10 percent, and firms are unlikely to see any turnaround until late 2009.
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"Networking is like dieting: it doesn’t work if you stop," caution Thom Singer and Marny Lifshen in their new book. The four steps of networking are laid out clearly and the guide is full of practical examples, writes reviewer Margaret McCaffery.
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Do you know what other law firms are doing to keep their clients and compete for more? Barry Schneider assesses what a recent 2008 ALM Research Survey Report tells us about your competitors’ commitment to marketing and how they’re making results happen.
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From raising your profile as an expert to attracting more clients, publishing your own book offers a host of benefits. Writer Heather Hutchins lists 10 excellent (and business-savvy) reasons to write your own book.
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Teddy Roosevelt was the greatest executive of his generation. Lawyers and marketers will make much more of a difference in the prosperity and success of their firms if they apply the leadership principles of our 26th president. Print this article out and read it, twice.
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Diversity and increased longevity have created a disparate work force at many law firms. Janet Ellen Raasch reports on a presentation by consultant Mary Crane, in which she outlines the differing characteristics of four generations and discusses strategies for bringing them together to form a cohesive working unit.
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Nothing causes more angst amongst women lawyers than the idea of taking a male client out to dinner alone, according to rainmaker Sharla Frost, Esq. of Houston, TX. She offers practical steps to make it clear it's a business meeting, not a date.
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Leonard, Street and Deinard realized $7.5 million in fee receipts growth over a two-year period, based on a $150,000 program investment – including coaching fees, outside training fees, events and sales incentives. The firm calls it the "Fast Forward" program and is now selling it as a product, according to CMO Jill Weber.
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Each year firms spend valuable time and money on holiday cards. Knowing how many your clients receive, how can you ensure yours don't get lost in the deluge Nicki L. Schuh, President of Heartfelt Charity Cards, shares her expertise on how to get your cards noticed.
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Boston IP firm Wolf, Greenfield and Sacks announces its annual Wolfie Awards for outstanding efforts in business development. Business Development Coordinator Elizabeth H.S. Fiorini explains how this creative concept for honoring attorneys' marketing achievements is also a valuable educational tool allowing them to learn from their peers' successes.
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This book, written by a former Katten partner, is a fast-paced love story set in an investment bank. Ambitious and brilliant, Jane is sure she's going to meet resistance at every turn – and then she meets the ambitious Charlie. According to reviewer Cecilia Alers, the novel offers important lessons about corporate competition, professional life and personal success.
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Dollars and bodies are being shifted from traditional marketing to business development, according to Joseph Calve and Carolyn Rumpf. After 15 years of marketing, law firms are embracing business development with a vengeance. It’s time for marketers who want to stay relevant to get active in business development.
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A groundbreaking new survey of the legal profession demonstrates that law firms are very interested in the capability of their associates to contribute to business development. But ironically, 57% of law firms fail to provide them any training to generate new business.
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Foley & Lardner, Holland & Hart and Burr & Forman took home the Elite Excellence in Legal Marketing Awards, given out at the recent Marketing Partner Forum in Orlando, Florida. One of the judges, Larry Bodine, reports on why the winners were selected.
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Aric Press, the Editor in Chief of The American Lawyer magazine, offered several tips to lawyers and marketers as he spoke at the program “How to Work Effectively with the Media.” PM Forum Regional Director Larry Bodine reports from the recent Law Firm Marketers’ Roundtable in Phoenix.
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Successful implementation of new ideas brought awards to partner Press Millen of Womble Carlyle for launching the first law firm sales force, to marketer Mark Beese of Holland and Hart for creating an in-house marketing agency, and to marketer Darryl Cross of Benesch Friedlander for instilling a business development culture. Marketing consultant Larry Bodine reports from the 2003 Marketing Partner Forum.
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