JordanFurlong + firms + marketing   11

The Business Development Dilemma: Do Firms Get What They Pay For? | The American Lawyer
They say they want business developers with a strategic, client-centric mindset to go shoulder to shoulder with partners and move the revenue needle. What they get are marketing generalists insulated from buyers (except when pinning on name tags at client events) and smothered under a haystack of scutwork so deep they can’t find the needle, let alone move it. That’s the crux of the business development fallacy.

There are exceptions. They are, however, few enough and far between enough that they prove the rule: Look too closely and Big Law business development looks a helluva lot like marketing.

This is different from “real” companies, where business development (sales) is distinct from marketing. At law firms, the functions are mashed up. Business development is distinguished not by dollars-in-the-door prowess, but by proximity to practice leaders. By any other name, however, it’s an elaborate species of sales support.

Much ado about nomenclature? No. There are real consequences to dishing up business development goulash. Nor is it a matter of bad faith. Firm leaders and business development professionals are earnest in their efforts to get it right. But it’s hard to ignore so many of the wrong people doing the wrong things for the wrong reasons.
firms  bizdev  marketing 
july 2018 by JordanFurlong
Large Law’s Not-So-Secret Weapon In Marketing And BD: The Library | Above the Law
To differentiate themselves, law firms have begun actively producing thought leadership, content marketing (including research), and academic-style studies on topics of interest to their clients. Such materials allow firms to show their mastery of a subject and differentiate themselves while teaching their clients and prospects something new. Of course, producing those materials often calls for analyzing and drawing insights out of raw data and information, which is the stock in trade of law firm librarians. And in that way, the library has become critical to some law firms’ marketing and business development efforts.
marketing  library  km  compintell  business  firms 
march 2017 by JordanFurlong
Your Law Firm Is A Media Company - Lawyer Forward -
Whatever you sell, you have nothing without a buyer.

Your product may be perfect, you may have solved a major need or created great work, but you’ll never serve a soul unless someone finds you.

Vaynerchuk told the room that we are a media business first, and only after that work is done do we sell legal product. He said it so quickly that I imagine most of the room missed it. He spoke more on the subject throughout his talk, but never with that kind of precision:

You are a media company first, and then you sell legal product.
media  firms  marketing 
september 2016 by JordanFurlong
Prism Legal What Big Law Can Learn from Alphabet - Prism Legal
The Google or Hilton approach does not exist in Big Law so far as I know. Some firms don’t need it. The value players (e.g., labor and employment firms) serve mainly price sensitive clients. They invest heavily in technology and process improvement. The super-rich(e.g., the top NYCfirms)  serve primarily price-insensitive clients. They focus on paying for top talent and doing deep dives into difficult issues.
segments  firms  clients  marketing 
august 2015 by JordanFurlong
Why There’s No Such Thing as Full Service
No client ever hires an agency because it can do everything, but rather because it can do something. In fact, whenever “wide range” or “full service” appears as the main promise a firm makes, you can assume that it has been either unable or unwilling to actually name what it stands for.
marketing  firms  strategy 
february 2015 by JordanFurlong
3 Geeks and a Law Blog: The Big Orange Button
This will get me in trouble, but attorneys are the most expensive client service representatives ever. That is not in any way intended to diminish their importance. Good client service reps are absolutely necessary, but not nearly sufficient to provide a good client experience. The greatest lawyer in the world without the right tools, resources, and relationships is still going to be a very good lawyer, but will not likely provide an optimal experience to their clients. The tools, resources, and many of the relationships that attorneys use on behalf of their clients are provided by the firm and yet, GC's have been known to say things like "We hire the lawyer, not the law firm." That mindset has made the modern BigLaw firm little more than shared office space for "partners" always on the lookout for another firm that will promise them a larger cut of profits.
firms  marketing  clients 
june 2012 by JordanFurlong
Law Firm Web Strategy : 101 Law Firm Taglines – 2009 Edition
Taglines as branding devices have been a subject of interest for some time now. Jeanine Magsitza compiled a list of 100 law firm taglines in 2002; Nathan Burke analysed AmLaw 200 firm’s use of taglines on their websites in 2005; and a few months ago, Carolyn Elefant advised on how to write a good tagline.
Bookmarks  firms  marketing 
september 2009 by JordanFurlong
Legal Technology - Firm Videos Lacking Sense End Cent-less
Videos have been popping up on firm Web sites around the region, but at least one analyst warned that law firms might be paying too much for too little.
Bookmarks  marketing  firms  IT  innovation 
november 2007 by JordanFurlong
Adam Smith, Esq.: An inquiry into the economics of law firms....
Is it realistic, or even desirable, for your marketing or client relationship people to have a voice in charting the course of the services your firm provides? I believe that, if you think those folks truly understand your clients' desires for service (a
Bookmarks  firms  marketing 
september 2007 by JordanFurlong
colpm: More on Law Firm Marketing and ROI - It's Really about Biz Dev
However, the much greater challenge in calculating marketing ROI is that in real life in most firms, there is so little connection between what happens marketing-wise and what happens revenue-wise. In real life, most firms and practice groups don't do ri
Bookmarks  firms  marketing 
july 2007 by JordanFurlong

Copy this bookmark: