Law Firm Marketing Brief
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"Legal trends lack drama" reads the headline of this Global Legal Post story on the recent LexisNexis Legal Trends report. But buried in the third graph there are some pretty eye-popping numbers about the ongoing changes in the legal market. Firms with 750 or more lawyers have billable rates that are now 53% higher than firms with between 500 and 750 lawyers. This differential increased by 8% in just the last 2 years. In the same time period, market share for the largest firms increased by a similar 7% - which presumably primarily reflects their increased billing rates. These numbers may not be dramatic enough for the Global Post headline writers but they do illustrate the sharp segmentation that has taken hold in the market. At the top-end, these billing rates seem to have detached from earth-bound reality. It will be very interesting to see if this gap persists (and continues to widen), even as we head into the next market downturn; it makes you wonder if we should think of this as a single legal market anymore.
Speaking of market sentiment, Intapp has just published a new survey indicating that 60% of the lawyers who responded in the UK and US said they were quite satisfied with their current work/life balance. This strikes me as bordering on the absurd - like taking a satisfaction survey of the barnyard goose a day or two before Christmas dinner gets served. What a difference a day or two (or a down quarter or two for that matter) makes in how we assess our personal satisfaction!
News about the death of the CMO in corporate America seems to have been greatly exaggerated, at least according to this latest blog post from Frank Strong. If anything the trend seems to be for CMO's to shoulder increasing responsibilities, so much so that some B2C companies are finding it necessary to split the role into two VP-level positions, one focused on brand, the other on all other marketing functions.
Kevin O'Keefe has a good blog post this week on the theme of how bloggers become better lawyers through the regular routine of blogging. It's an interesting idea and one that could help make the marketing department's job a little easier, if lawyers could be convinced of it. In fact, I think there's a good argument to be made that paying attention to marketing, in general, helps improve a lawyer's skills and professional instincts - particularly in the current business climate, where understanding issues from the client's perspective has emerged as a crucial element of both effective marketing and professional development. See, for example, these two new blog posts by Mark Cohen, which explore a similar theme, about the need for upskilling in the legal profession, with lawyers needing to cultivate a broad range of skills to better address client needs instead of focusing exclusively on their narrow legal expertise. Blogging is a place to start but far from enough.
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Legal Business in Brief
- Legal trends lack drama Global Legal Post: Big Stories, September 26, 2019
- What’s A Lawyer Now? Law’s Shift From Practice To Skill Legal Mosaic, September 30, 2019
- Intapp survey reveals 60% of lawyers satisfied with their work/life balance, however admin load remains a key pitfall IntApp, September 26, 2019
- Upskilling: Why It Might Be The Most Important Word In The Legal Lexicon Legal Mosaic, September 30, 2019
- How to Stand Out in a Crowded Marketplace Adam Smith, Esq., September 30, 2019
- Baker McKenzie in leadership changes Global Legal Post: Big Stories, September 27, 2019
- NAMWOLF celebrates diversity numbers Global Legal Post: Big Stories, September 25, 2019
- New guide aims for meaningful conversations Global Legal Post: Big Stories, September 25, 2019
- Barnes & Thornburg Launches University and Professional Athletics Group Barnes & Thornburg, September 25, 2019
- McDermott Expands Services In Insurance Industry; Provides Deeper Transaction Expertise In Niche Sector McDermott Will, September 25, 2019
- Wake Up Call: Weil Hires Williams & Connolly in Wall Street Fight Bloomberg BNA: Business Development, September 27, 2019
- The Numbers Are In: The Recently Released Hart-Scott-Rodino Annual Report for Fiscal Year 2018 Provides an Overview of Antitrust Merger Enforcement Epstein Becker, September 26, 2019
- Helping litigation and disputes clients mitigate financial risk Eversheds Sutherland (United Kingdom), September 30, 2019
- How diversity counts Global Legal Post: Big Stories, October 1, 2019
- An Inside Track To A Fraud-Free Firm Business of Law Blog, September 25, 2019
- Law Firm Mergers - Lots of Talk, But Only 46 Done Deals, So Far in 2019 Law and More, September 30, 2019
Innovation
- Using the Genius Move: A 3-Step Process for Building a Mindset of Innovation in Law Legal Executive Institute: Blog, September 26, 2019
- Tech “Incubator” for Smaller Law Firms Launched in Austria Gerry Riskin Blog, September 30, 2019
- White & Case tools up for bonds Global Legal Post: Big Stories, September 27, 2019
- Legal Innovators: Monet Fauntleroy – ‘You Need Dedicated Innovation Teams’ Artificial Lawyer, October 1, 2019
- Ashurst unveils next generation delivery Global Legal Post: Big Stories, September 26, 2019
- Actionable Cost Data: What It Is And Why You Want It Above the Law - Legal Technology, September 30, 2019
- Global study flags state of data breaches Global Legal Post: Big Stories, September 26, 2019
- If You Missed The Fireside Chat With Judge Andrew Peck… Above the Law - Legal Technology, September 27, 2019
- Technology Management Best Practices Need To Change American Bar Association: Law Technology Today, September 25, 2019
- What do you do to improve innovation levels? Knowledge for Lawyers, September 25, 2019
- AI legal tech “so powerful it will need regulation” Legal Futures, September 29, 2019
Tips, pointers and presentations
- Project Management 101: What I Learned from Taking the CAPM Course Jaffe PR Blog, September 25, 2019
- Are You Making These 3 Common Law Firm Blogging Mistakes? LawLytics, September 25, 2019
- 8 Simple Steps to Create a Referral Network of Other Attorneys RainmakerLawyer Blog, September 26, 2019
- Building Effective and Accountable Teams That Get Things Done Affinity Consulting, September 28, 2019
- Reputation Management in a World Full of Fake News: 4 Tips Business 2 Community, September 25, 2019
- Lessons in letting go: 3 flexible website design tips Articulate Marketing Blog, September 26, 2019
- 6 Incredible Tools To Boost Your Podcast Results [IMPACT Toolbox Sep 2019] Impact Blog, September 26, 2019
- 12 Reasons Why Your CRM Fails…and How to Fix Them Business 2 Community, September 26, 2019
- 4 Tips for Creating an Eye-Catching Landing Page Business 2 Community, September 26, 2019
- Blogging for Lawyers: The Ultimate Guide Blue Corona, September 30, 2019
- 11 Time Management Tips To Achieve Your Goals By Working Less [Infographic] Business 2 Community, September 28, 2019
- Advice for Managing Your Overflowing Inbox Business 2 Community, September 28, 2019
- 4 Basic Tactics for Improving Website Traffic Social Media Explorer, September 25, 2019
- How to Create and Use Infographics for Your Content Marketing Marketing Profs, September 27, 2019
- Must-Try Marketing Strategies to Make Your SaaS Businesses Grow Social Media Explorer, September 25, 2019
- How to Create an Editorial Calendar for Your Law Firm Good2BSocial, September 25, 2019
- Common Mistakes with Law Firm Google Ads Good2BSocial, September 26, 2019
- Anatomy of a Perfect Law Firm Landing Page Good2BSocial, September 27, 2019
- Five Tips to Running a Laptop Law Firm American Bar Association: Law Technology Today, September 30, 2019
- Know Your Niche: 4 Ways to Market Your Specialty Business Social Media Explorer, September 30, 2019
- How to Develop a Content Strategy for Your Law Firm Good2BSocial, September 30, 2019
Portable Business
- Ents boutique firm gets disruptive Global Legal Post: Big Stories, September 25, 2019
- Campos Mello Advogados welcomes new partner DLA Piper, September 26, 2019
- Locke Lord Strengthens IP Biotech and Pharma Capabilities With Addition of Complex Patent Litigator Steven Trybus as Chicago Partner Locke Lord Edwards, September 26, 2019
- Prominent EU and UK Competition Law Practitioner to Join Latham & Watkins in London Latham & Watkins, September 26, 2019
- New Partner Brings Vast Environmental Litigation & Regulatory Experience, Deep Energy Sector Focus Pillsbury Winthrop, September 26, 2019
- Eversheds Sutherland continues to expand in San Diego with Counsel Jaime Choi Eversheds Sutherland (US), September 30, 2019
- Guillaume Forbin and Team Join Kramer Levin in Paris Kramer Levin, October 1, 2019
- Bartosz Targański, PhD, joins the competition law team in Warsaw Allen & Overy, October 1, 2019
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Legal Marketing
- 3 Alternate Viewpoints You Should Read on the Death of the CMO [UML] Sword and the Script, September 28, 2019
- Why do B2B Content Marketing Strategies Fail? Hinge Marketing, September 26, 2019
- Blogging Makes You a Better Lawyer Real Lawyers Have Blogs - Kevin O'Keefe, September 27, 2019
- Mastering Social Media like Chrissy Teigen Jaffe PR Blog, September 25, 2019
- Trendspotting – Virtual Law Legal Marketing Association: Strategies+ Blog, September 27, 2019
- How to Prepare Your Law Firm’s Website for 2020 LawLytics, September 27, 2019
- Create a Digital Trail to Your Website Bio Jay Harrington Blog, September 30, 2019
- Law Firm PR/Marketing Folks - Good Luck Getting Your News Out Today, Near Future Law and More, September 27, 2019
- What Playing Full Out Looks Like Wisnik Career Enterprises, September 26, 2019
- Lawyers' Power Tool: White Space in Communications Law and More, September 26, 2019
- PI firms “ignoring” out-of-hours calls and Facebook contacts Legal Futures, September 25, 2019
- Bridging The Client Intake Gap [Sponsored] Above the Law - Legal Technology, September 25, 2019
- Make That Move: Evolving From Junior Partner to Rainmaker Blog of Legal Times, September 25, 2019
- 5 Mistakes Seen on Legal Websites Postali, September 30, 2019
- 2020 Legal 500 guide hails Hudgell Solicitors for growth of business Legal Futures, September 30, 2019
- Do You Need a "Do-Over?" Legal Ease, September 30, 2019
- Attract the Right Clients, Nurture Them, and Turn Them into Raving Fans Affinity Consulting, September 30, 2019
- Is Researching Your Clients and Prospects a Good Idea? Hinge Marketing, October 1, 2019
Digital Marketing
- Top 10 Dashboard Software and Tools for 2020 Business 2 Community, September 29, 2019
- Share of Voice: What it is and How to Measure it Business 2 Community, September 29, 2019
- Executive quick take: A guide to implementing marketing-and-sales transformations that unlock sustainable growth McKinsey: Marketing and Sales Insights, September 27, 2019
- How 'The Golden Circle' is More Relevant Than Ever for the B2B Market Impact Blog, September 27, 2019
- The Weekly Wrap: You Won the Keys to the Content Kingdom. Now What? Content Marketing Institute, September 27, 2019
- The best digital marketing stats we’ve seen this week Econsultancy, September 27, 2019
- The guide to winning social media for law firms Sprout Social: Insights, September 26, 2019
- How Artificial Intelligence is Shaping Digital Marketing: 5 Tools You Can Use NOW Digital Marketer, September 26, 2019
- Why Content Marketing Doesn’t Need to Be Perfect to be Successful [Interview] Impact Blog, September 26, 2019
- Are you a growth leader? The seven beliefs and behaviors that growth leaders share McKinsey: Marketing and Sales Insights, September 26, 2019
- Does your company need a marketing automation platform? Marketing Land, September 25, 2019
- Five (Plus One) Must-Reads On Behavioral Economics Forrester Blogs, September 25, 2019
- Why is gaining confidence so hard? Mark Schaefer Marketing Solutions Blog, September 25, 2019
- Third of marketers would spend extra budget on martech Smart Insights, September 25, 2019
- How Branding Can Determine the Success of Your Marketing Marketing Insider Group, September 25, 2019
- How Well Do You Know Marketing Trends? Test Your Knowledge. [Quiz] Marketing Profs, September 25, 2019
- CDPs, DMPs, CRMs... Oh My! Which Data Solution Is Right for You? (A Guide for Marketers) Marketing Profs, September 25, 2019
- Vimeo Launches Marketplace for Finding and Hiring Video Professionals Impact Blog, September 25, 2019
- Is Your Marketing a Pillager of Privacy? Content Marketing Institute, September 25, 2019
- Digital Marketing is the Foundation of Your Brand Business 2 Community, September 30, 2019
- Collaboration Tools That Will Enhance Virtual Team Productivity Business 2 Community, September 30, 2019
- Competitor content analysis: Here’s what you can learn Marketing Land, September 30, 2019
- Why Do B2B Content Marketing Strategies Fail? Business 2 Community, September 30, 2019
- Why Mentoring During the Onboarding Process is Beneficial Business 2 Community, September 30, 2019
- FORRward: A Weekly Read For Tech And Marketing Execs Forrester Blogs, September 30, 2019
- How to Monetize a Business Ecosystem Harvard Business Review, September 30, 2019
- Externalities: Why We Can Never Do “One Thing” Farnam Street, September 30, 2019
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Podcasts and Webinars
- Live Episode! Walker & Company: Tristan Walker NPR Podcast Directory, September 30, 2019
- Podcast #243: Audience, Attention, and SEO, with Rand Fishkin Lawyerist.com, September 26, 2019
- Watch: Coaches on Call American Bar Association: Law Technology Today, September 27, 2019
- Creating Content that Ranks in Local Search Duct Tape Marketing, September 26, 2019
- The Life Is Good Company: Bert and John Jacobs NPR Podcast Directory, September 30, 2019
- The Ryan Hanley Show Podcast – The Self-Reliant Entrepreneur Duct Tape Marketing, September 30, 2019
- World of Marketing 9: From Shag Carpets to GLM Marketer of the Year Law Firm and Attorney SEO and Internet Marketing, September 26, 2019
- The State of Legal Finance: Breaking insights from the latest research Inside Counsel, September 26, 2019
Vendor Updates
- What is a featured snippet? CallRail, September 25, 2019
- Wolters Kluwer Launches NLP Platform For Medical Data Artificial Lawyer, September 27, 2019
- Vista Equity Partners acquires Acquia for $1 billion MarTech Today, September 30, 2019
Marketing and Editorial Jobs
- BD & Marketing Specialist, For the New York Office of a Financial Services Law Firm September 25, 2019
- Marketing & Communications Specialist, For the New York Office of a Financial Services Law Firm September 25, 2019
- Southern Poverty Law Center, D.C. - Email Specialist/Writer Law and More, September 27, 2019
- Southern Poverty Law Center, DC - Social Media Manager Law and More, September 27, 2019
- Global Market, NYC/DC - Financial/Political Freelancers ($500 to $1,500 per article) Law and More, September 27, 2019
- Business Writing Targeted at Investors - REMOTE Law and More, September 27, 2019
- ACLU of Southern California, Los Angeles - Communications Law and More, September 29, 2019
- Personal Injury Firm, North Vancouver, Canada - Marketing Law and More, September 29, 2019
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_____________ The Law Firm Marketing Brief is the newest addition to the Pinhawk family of newsletters for the legal market. As the pace of competition and innovation in the legal market continues to accelerate, marketing issues are now front and center in shaping the future of the profession. This newsletter is designed to serve the needs of marketing professionals in law firms of all sizes, as well as practicing lawyers who are actively involved in marketing and business development initiatives, by providing a weekly briefing on the marketing ideas and trends that are driving the transformation of the legal industry. Joe Lamport, Editor. email me. Joe is a former practicing lawyer who has been a pioneer in the field of digital marketing for lawyers. He is the founder of the marketing consultancy, The Practice Platform. Free Subscription See our free newsletter for IT folks. See our free newsletter for Librarians. See our free newsletter for Legal administrators.
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