Law Firm Marketing Brief
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- Deals. The latest M&A league tables show the corporate deal market rebounding nicely, although 3rd quarter deal value still ran more than 20% below the same period last year. The major difference seems to be a noticeable drop in mega deals, with value in excess of $10 billion. Interesting to see the same pattern emerging in the market for law firm mergers as well, according to the latest survey from Altman Weil. While law firm merger activity rebounded in the 3rd quarter, the number of deals is still down around 50% compared to 2019, for the year to date. More significantly, setting aside Dentons, which continued to pound its golden spike with the rollup of Durham Jones in Salt Lake City, there were no acquisitions of firms with more than 50 lawyers. More than 90% of the deals involved firms with fewer than 20 lawyers.
- Demographic Trends. This article about the growth of the legal tech sector in Leeds, a mid-sized city in the north of England caught our attention this week. Against the backdrop of all the discussion about the post-pandemic future of overpriced big cities such as New York, London and San Francisco, here's a quiet indicator of where the market is heading. It's not that urbanization is dead, just the nature of it is changing, tilting more towards places like Leeds where innovation and tech talent are clustering. Which of the new tech hubs sprouting up across the US will emerge as a center for legal tech comparable to Leeds?
- The Virtues of Virtual Practice. Also from the north of England, there's this interesting story about virtual law firm GunnerCooke, which is now looking to expand its practice as a platform open to associates and multi-disciplinary consultants. Up until now GunnerCooke has been one of the more successful new breed of virtual firms, almost exclusively focused on supporting experienced partners with an existing book of business. The move to bring in junior lawyers seems to suggest that their virtual practice model is thriving.
- Strategic Client Management This article about strategic client management (which is the first in a series by Jane Stanton of Adam Smith, Esq.) is well worth reading.
I particularly like the distinction Stanton draws between a law firm focus on cross-serving and cross-selling, properly placing the emphasis on identifying client needs as opposed to law firm revenue targets. I hope the future article in this series will explore the role of the marketing department in supporting the shift to strategic client management and thinking.
- Law Practice With Equity Returns. This article from Bloomberg provides a good explanation about how Cooley (through an affiliated investment fund) reaped a windfall from the recent successful IPO of Snowflake, one of its start up clients. Charging by the hour sure pales in comparison but note the article also discusses important safeguards a law firm needs to put in place in order to avoid creating serious conflicts of interest between their role as counsel and investor.
- Productizing Legal Services. It's not every day you hear a lawyer talk about minimum viable product in the context of their efforts at practice development. (For those of you unfamiliar with the terminology, minimum viable product is an important concept used by start-ups to describe the bare bones offering necessary to launch a new product in the market.) But this interview with Aaron Thomas, a family law practitioner in Georgia, provides a good look at how thinking about legal services in terms of product development can jumpstart your business development strategy.
- Creative Marketing Award. And the creative marketing award this week goes to Paul Hastings, which published the results of a recent survey it sponsored in collaboration with The Lawyer publication in London. All law firms struggle with the same basic marketing problem - how do you make sure you get your name in front of in-house lawyers in a formate where they are least likely to be dozing off. Can there be any more effective way to spend your marketing budget than sponsoring a survey of in-house lawyers?
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PinHawk Microsites
- Law Firm Business Development: Building a Sales Team, Silvia Coulter - LawVision
- Herding Cats: Focus on the End Game, Carla Landry - LawVision
Legal Business in Brief
- Law Firm Combinations Start to Bounce Back, Altman Weil, October 1, 2020
- Burford’s Payday Shows Litigation Finance Not Just About Lawyers, Bloomberg Law, October 2, 2020
- Leeds bids to rival London for lawtech as ABSs thrive, Legal Futures, October 6, 2020
- Snowflake’s Silicon Valley Law Firm Is Also a Happy Investor, Bloomberg Law, September 30, 2020
- Kennedys snaps up insurance boutique to launch in Tel Aviv, Global Legal Post: Big Stories, October 2, 2020
- Captive LPOs: The Right Type of Subsidiary for Your Law Firm?, Law Vision Insights Blog, October 4, 2020
- Greenberg Traurig Expands Data, Privacy & Cybersecurity Practice, Greenberg Traurig, September 30, 2020
- Baltic market shake-up continues with tripartite merger to create 100-lawyer practice, Global Legal Post: Big Stories, October 2, 2020
- Kirkland & Ellis Leads Pack Through Q3 with $190 Billion in M&A, Bloomberg Law, October 2, 2020
- Banking - That's Hot Growth Practice in 2020, Law and More, October 5, 2020
- Ince reports 50 Covid-19 staff layoffs and signals 'significant' post pandemic office space savings, Global Legal Post: Big Stories, September 30, 2020
- Goodwin Names 29 New Partners, Goodwin Procter, October 1, 2020
- Kirkland & Ellis unveils record partner promotion round, Global Legal Post: Big Stories, October 4, 2020
- Quarles & Brady Adds New Class of Partners, Quarles & Brady, October 1, 2020
- Covington Promotes 14 to Partner Across Five Offices Globally, Covington Burling, October 1, 2020
- Sheppard Mullin Eliminates Covid Cuts, But Lays Off Staff, Bloomberg Law, October 6, 2020
- Arnold & Porter to shut Frankfurt office next year, citing 'strategic priorities', Global Legal Post: Big Stories, October 1, 2020
- Lobbying 2020: The Players, the Money and the Firms, Blog of Legal Times, October 1, 2020
- Boies Schiller Flexner Comp Changes 'A Good Start,' but May Have Come Too Late, Blog of Legal Times, September 30, 2020
- Gunnercooke develops associate and multi-disciplinary offerings, Legal Futures, October 4, 2020
- September Jobs Report - Legal Services Unemployment More than Halved (but not why you think), Law and More, October 3, 2020
- Ince Group shares slump as Covid-19 takes toll, Legal Futures, September 30, 2020
- Fisher Phillips Expands in Texas, Fisher & Philips, October 5, 2020
- SBA Issues Guidance for Borrower Changes of Ownership, Cooley, October 5, 2020
- Global M&A shrugs off Covid-19 crisis with massive bounce in third-quarter dealmaking, Global Legal Post: Big Stories, October 5, 2020
- Freshfields First Woman Chair: Lockstep Won’t Stop U.S. Growth, Bloomberg Law, October 5, 2020
- Linklaters mourns loss of 'true European' and former regional head Blumberg, Global Legal Post: Big Stories, October 5, 2020
- Introducing the Leopard Law Firm Index: Not Your Father’s Law Firm Rating, Adam Smith, Esq., October 6, 2020
- How Businesses Can Recruit and Develop More Young People of Color, Harvard Business Review, October 5, 2020
- The Good Times Rolled In Much of the Legal Sector During Early 2020 - Demand Now Down, Law and More, October 5, 2020
- Paul Weiss Forgoes Special ‘Covid-19' Bonuses for Associates, Bloomberg Law, October 6, 2020
Innovation
- Biggest Ransomware Attack Yet Crippled U.S. Hospitals Last Weekend, Above the Law - Legal Technology, October 2, 2020
- Making Virtual Hearings Work, Above the Law - Legal Technology, October 2, 2020
- Launching Today: LexFusion Aims To Turbocharge Tech Adoption By Changing The Sales Paradigm, Above the Law - Legal Technology, October 1, 2020
- Get Excited For An Innovative Virtual Conference That’s Sure To ‘Transform The Practice Of Law, For Good’ [Sponsored], Above the Law - Legal Technology, October 1, 2020
- What’s Next for Silicon Valley?, Harvard Business Review, October 2, 2020
- Ashurst boosts new law arm with senior hire from Herbert Smith Freehills, Global Legal Post: Big Stories, October 1, 2020
- Lathrop GPM Taps Jasmine Trillos-Decarie to Launch Innovative Chief Client Officer Role, Lathrop GPM, October 1, 2020
- Ex-KPMG AI Head Builds ‘Base Data Layer for Corporates’ with Microsoft, Artificial Lawyer, October 5, 2020
- Four Winners Named in The Changing Lawyer Awards 2020, Robert Ambrogi's LawSites, October 2, 2020
- New Take On an Old Question: Should Lawyers Learn to Code?, American Bar Association: Law Technology Today, October 2, 2020
- Are You Really Innovating Around Your Customers’ Needs?, Harvard Business Review, October 2, 2020
- DocuSign On Path to Consumer Grade AI Doc Review With Analyzer, Artificial Lawyer, September 30, 2020
- Contract One Walk Through – Collaborative Contracting, Artificial Lawyer, October 1, 2020
- What Really Makes Us Resilient?, Harvard Business Review, October 2, 2020
- Launching Today: LexFusion Aims to Turbocharge Tech Adoption by Changing the Sales Paradigm, Robert Ambrogi's LawSites, October 1, 2020
- Lexis Works With Knowable To Launch New Market Standards Platform, Artificial Lawyer, October 5, 2020
- The LexFusion Consortium – Analysis + AL TV Interview, Artificial Lawyer, October 6, 2020
- Task Management Technology Keeps Teams Focused, Organized, Legal Current: Thomson Reuters, October 6, 2020
- What Brain-Computer Interfaces Could Mean for the Future of Work, Harvard Business Review, October 6, 2020
- Deloitte Spins Out CLM/NLP Platform Arteria AI, Artificial Lawyer, October 6, 2020
- The Fourth Private Equity Investment In A Practice Management Company In As Many Weeks, Robert Ambrogi's LawSites, October 6, 2020
- Litigation Prediction Pioneer, CourtQuant, To Close, Artificial Lawyer, October 7, 2020
Tips, pointers and presentations
- A Guide to Document Automation for Lawyers, Clio Blog, October 1, 2020
- Keep Your Eye on the Camera and Other Tips for Virtual Broadcast Interviews, Jaffe PR Blog, September 30, 2020
- 5 Ways Law Firms Fail at Their Financials, Attorney at Work, October 4, 2020
- To Succeed in a Negotiation, Help Your Counterpart Save Face, Harvard Business Review, October 2, 2020
- How to Choose the Best Page Topics for Your Law Firm’s Website, LawLytics, October 1, 2020
- The illusion of confidence - test your own overconfidence bias!, Knoco Stories, October 1, 2020
- Video Meetings Are Killing Your Productivity, Attorney at Work, October 2, 2020
- 7 Tips to Avoiding Workaholism From a Workaholic-Psychotherapist, Business 2 Community, October 1, 2020
- How to Use Twitter Analytics: The Complete Guide for Marketers, Hootsuite, September 30, 2020
- COVID-19 is Driving Long-Term Changes in Big Law for Remote Work, Fees, Hiring, Blog of Legal Times, October 5, 2020
- What Law Firms Can Learn from the Remote Work Experience, American Bar Association: Law Technology Today, September 30, 2020
- Selling to the C-Suite: 3 Tips for Selling to C-Level Executives, Rain Sales Training Blog, October 5, 2020
- This Is How Lawyers and Clients Look Good on Video Calls, Attorney at Work, October 6, 2020
- Four Steps to Creating Successful Law Firm Landing Pages, Good2BSocial, October 6, 2020
- 10 Mistakes Lawyers Make on Social Media, Good2BSocial, October 5, 2020
- 38 marketing slang terms all marketers should know, Nutshell, September 30, 2020
- A Checklist for Running a Successful Law Firm Marketing Campaign, Good2BSocial, October 2, 2020
Portable Business
- Madrid employment team leaves DWF to set up five-partner boutique, Global Legal Post: Big Stories, October 1, 2020
- Seasoned Linklaters duo set up international finance boutique, Global Legal Post: Big Stories, October 6, 2020
- Stroock Expands National Real Estate Group, Luring Leaders Lorie Soares Lazarus and Peter David Ballance in Los Angeles, Stroock & Stroock, October 1, 2020
- Growing Business in Bankruptcy Litigation Fuels Attorney Hiring, Nelson Mullins, October 6, 2020
- White & Case Hires Co-Leaders of Sidley Bankruptcy Practice, Bloomberg Law, October 1, 2020
- SBA Provides Guidance on Changes of Ownership of PPP Borrowers, Bryan Cave Leighton Paisner: Thought Leadership, October 5, 2020
- BCLP secures seven-strong real estate team from CMS in Paris, Global Legal Post: Big Stories, October 6, 2020
- Mayer Brown strengthens Latin American and Lusophone Africa international arbitration capabilities with appointment of Luiz Aboim as a partner in London, Mayer Brown, October 5, 2020
- White & Case Adds Leading Restructuring Team to Its New York and Chicago Offices, White & Case, October 1, 2020
- Reed Smith enhances Global Corporate Group with funds partner in London, Reed Smith, October 1, 2020
- Bryan Cave Leighton Paisner hires former assistant US attorney in Los Angeles, Global Legal Post: Big Stories, September 30, 2020
- King & Spalding’s Chicago Office Adds Corporate Partner, King & Spalding, October 1, 2020
- Baker Botts Continues Corporate Department Growth with Partner Hire in Dubai, Baker Botts, October 5, 2020
- Accomplished Bankruptcy Litigator Theresa Foudy Joins Morrison & Foerster's Leading Business Restructuring + Insolvency Group, Morrison & Foerster, October 5, 2020
- Fisher Phillips Welcomes Joel Moon in Los Angeles, Fisher & Philips, October 5, 2020
- Kilpatrick Partner Heads to Crowell Amid Rising Activity in ITC Patent Disputes, Blog of Legal Times, October 6, 2020
- DAC Beachcroft builds in Belfast with five-partner hire from BLM, Global Legal Post: Big Stories, October 6, 2020
Law Firm Memos
- Navigating New Paths to Growth - An Opportunity for In-house to Reimagine and Reshape the Future of Work, Paul Hastings, October 1, 2020
- Restart, Rethink, Rebuild - State of the Real Estate Financing Market for the Next 12-24 Months, Husch Blackwell Sanders, September 30, 2020
- How to Resolve COVID-19-Related Labor Conflicts, Fisher & Philips, October 6, 2020
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Legal Marketing
- What is Strategic Client Management? And Why Should You Care?, Adam Smith, Esq., October 2, 2020
- Networking Is Horsetrading - Lawyer, Staff, Law Students, First Figure Out What You Have to Trade, Law and More, October 4, 2020
- Buying Signals: B2B Marketing Budgets without a Line Item for Trade Shows, Sword and the Script, October 3, 2020
- Small Firm Roadmap Stories: Community Support, Lawyerist.com, October 6, 2020
- Put Your Metrics Where Your Mouth Is, Harvard Business Review, October 2, 2020
- Employee Performance vs. Company Values: A Manager’s Dilemma, Harvard Business Review, October 2, 2020
- COVID-19 Phase 2 - How In-House Wants to Be Pitched to by Law Firms, Law and More, October 5, 2020
- Create Winning Marketing Budgets: Recurring Marketing Expenses, LISI: Legal Internet Solutions Inc. Blog, October 2, 2020
- ReviewSolicitors continues to sign Top 200 law firms, Legal Futures, October 1, 2020
- Marketing Salary Survey Shows the Pandemic is Changing Hiring Trends, Sword and the Script, October 1, 2020
- The Solution is in the Problem: A User-First Approach to Legal Marketing, Postali, October 1, 2020
- How You Communicate With Potential Clients Moves The Needle More Than Branding, LawLytics, October 1, 2020
- Non-Lawyer Positions - No Safe Harbor, Not Even for Digital Marketing (at least at Thompson & Knight), Law and More, September 30, 2020
- Your Website’s Practice and Industry Pages Need Some Love, Too!, Attorney at Work, September 30, 2020
- Lawyers, In Addition To Being Smart, You Need These 4 Characteristics, Myrland Marketing Minutes, October 1, 2020
- Turn Your Non-billable Rankings Time into Biz Dev Opportunities, Jaffe PR Blog, September 30, 2020
- Lean In to Business Development with Video, Larry Bodine Marketing Blog, October 6, 2020
- 5 Steps to Creating a Profitable Email Newsletter, Legal Marketing Blog, October 5, 2020
- Free Marketing Is Always the Place to Start When Building Your Law Firm, Attorney at Work, October 5, 2020
- Law Firm Business Development: Where to Invest Sales Coaching Dollars, Law Vision Insights Blog, October 5, 2020
- Legal Career Coach, 'LinkedIn for Lawyers' Author Shauna C. Bryce Joins Steptoe, Steptoe & Johnson, October 5, 2020
- Drumming up business while trumpeting your news — an integrated strategy, Jaffe PR Blog, October 5, 2020
- Large Law Firm Growth Areas Represent Blog Opportunities, Real Lawyers Have Blogs - Kevin O'Keefe, October 6, 2020
- Evaluating the Homepage on Your Law Firm’s Website, LawLytics, October 6, 2020
- Three New LinkedIn Features to Check Out This Fall, Jay Harrington Blog, October 6, 2020
- Six Tips For Starting Your First Blog In a Larger Law Firm, Real Lawyers Have Blogs - Kevin O'Keefe, October 6, 2020
Digital Marketing
- The Secret of The Successful Copywriter, copyblogger, October 5, 2020
- The first rule of the game, Seth Godin Blog, October 5, 2020
- How to Use Marketing Budget KPIs for Decision-Making, Business 2 Community, October 4, 2020
- The 17 Best Display Ads of 2020 (And Why They Work), Business 2 Community, October 4, 2020
- How Do You Measure Your WHY?, Business 2 Community, October 3, 2020
- McDonald's hires chief global impact officer to focus on purpose, Campaign Live UK, October 2, 2020
- Retargeting on LinkedIn: What B2B Marketers Need to Know [Infographic], Marketing Profs, October 2, 2020
- 4 Trends in Journalism and What They Mean for the PR Industry, Business 2 Community, October 1, 2020
- The growing importance of content analytics, Marketing Land, October 1, 2020
- Pareto’s 80:20 rule in Marketing, Smart Insights, October 1, 2020
- Top 17+ Metrics to Evaluate Content Marketing Success, Content Marketing Institute, October 1, 2020
- 2021 Salary Guide: Pay Forecasts for Marketing, Advertising, and PR Positions, Marketing Profs, October 1, 2020
- 20200929 ML Brief, Marketing Land, September 30, 2020
- What They Don't Tell You About Life "In-Between", Logic + Emotion: David Armano Blog, September 30, 2020
- 2021 B2B Content Marketing: What Now? [New Research], Content Marketing Institute, September 30, 2020
- How to Make Sure Your Whitepapers Get Read, Influence & Co., September 30, 2020
- Five Steps to Making an Excellent Explainer Video (Article 3 of 3), Marketing Profs, September 30, 2020
- Breaking Up Facebook Won’t Fix Social Media, Harvard Business Review, October 2, 2020
- Why Circular Thinking Works Better in Content Marketing, Content Marketing Institute, October 5, 2020
- How to handle negative thoughts and emotions at work [Infographic], Impact Blog, October 5, 2020
- Oracle CMO Ariel Kelman on driving transformational change in large marketing organisations, Econsultancy, October 5, 2020
- Why Life Can’t Be Simpler, Farnam Street, October 5, 2020
- 5 Ways to Build Company Culture with a Remote Workforce, Business 2 Community, October 6, 2020
- Big Changes Coming to Digital Ad Tracking: A Cookie-less Future?, Business 2 Community, October 6, 2020
- The End of Third-Party Cookies: What Marketers Need to Know, Content Marketing Institute, October 6, 2020
- What marketers can learn from the evolving gaming industry and ‘Generation Next’, Econsultancy, October 6, 2020
- An Open Letter To My Younger Self, Logic + Emotion: David Armano Blog, October 6, 2020
- Facebook’s latest “groups” disaster will only make it more toxic, Ars Technica, October 6, 2020
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Companies and Products in the News
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Upcoming Conferences and Events
- Legalweek Makes It Official: It’s Going Virtual – Not to Mention Free and Extended, Robert Ambrogi's LawSites, October 1, 2020
Podcasts and Webinars
- On LawNext: Joe Borstein and Basha Rubin on the Launch of LexFusion, Robert Ambrogi's LawSites, October 2, 2020
- On LawNext: Lex Machina Chairman Josh Becker’s ‘Exit Interview’ from Legal Tech, Robert Ambrogi's LawSites, October 5, 2020
- Kira Webinar: The State of Tech & Innovation in Legal, Artificial Lawyer, October 6, 2020
- World of Marketing 69: Exploring Google's New Legal Ad Format With Cody Moulton, Law Firm and Attorney SEO and Internet Marketing, October 2, 2020
- Ep 116: Hope For The Best, Plan For The Worst, Rocket Matters Legal Productivity, September 30, 2020
- LawNext Special Report: Legalweek Head Mark Fried Answers Questions about Taking the Conference Virtual, Robert Ambrogi's LawSites, October 6, 2020
- Fantastic value webinars, Knowledge for Lawyers, October 5, 2020
- Marketing From A to [Gen]Z: 'Zconomy' Author Jason Dorsey on Marketing Smarts [Podcast], Marketing Profs, October 2, 2020
- How to Improve Your PR Content Online, Duct Tape Marketing, October 6, 2020
Marketing and Editorial Jobs
- Professional Development Manager, Transactional Practices, For the New York Office of a Large Global Law Firm, October 1, 2020
- Marketing Firm, Newport, RI - Investment Writer (full-time), Law and More, October 4, 2020
- Providence, RI Publishing Startup, Black Audience - Editor-in-Chief - $70k, Law and More, October 3, 2020
- Legal Services, Affiliate Marketing Manager, Chicago, IL - Full-Time, Law and More, October 3, 2020
- Financial Services - REMOTE - Content Strategist, Law and More, October 3, 2020
- Dow Jones, NYC - Bureau Chief, Bankruptcy, Law and More, October 3, 2020
- Law Firm, Woodland Hills, CA - Sales Staff (Full-Time), Law and More, October 2, 2020
- Freelance Legal Marketing Writer - REMOTE - JD Preferred, Law and More, September 30, 2020
- U.S. Chamber of Commerce, D.C. - Writer for Executive Communications (full-time), Law and More, October 1, 2020
- Law Firm Specializing in Investigations, Orange County, CA - Salesperson (contract), Law and More, October 1, 2020
- City of Sacramento, CA Public Works - Media/Communications (full-time $36.64 - $48.08 per hour), Law and More, October 5, 2020
- Martin Luther King Jr. Freedom Center, Oakland, CA - Communications ($60k), Law and More, October 5, 2020
- Law Firm, D.C. - Digital Strategy (full-time), Law and More, October 5, 2020
- TED Type Talk, Austin, TX - Writing Help, Law and More, October 5, 2020
- Lemberg Law - REMOTE - Web Story Writer on Consumer Debt (short-term, contract), Law and More, October 6, 2020
- TTN Operations Ireland Limited - REMOTE - Financial News Content Editor (full-time), Law and More, October 6, 2020
- SEIU, D.C. - Communications Manager (Full-time, $94,601), Law and More, October 6, 2020
- Immigration Medical Clinic, Vancouver Canada - REMOTE - Content Writer on Immigration (full-time, $16 per hour), Law and More, October 4, 2020
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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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