Many of us who were lucky enough to be part of successful law firms of 20 years or so ago will recall how, in each of those firms, a couple of partners stood out for having impeccable client development and relationship skills. At the time we probably  assumed it was just the way things were done. There’s something in that, but in fact we were witnessing and experiencing a combination of terrific talent, something of an art form, at work, combined with hard work, commitment, genuine interest in others (mainly clients) ahead of own interests, keeping in touch, remembering important occasions, sending them snippets of useful information, and so on. This was old style business and client relationship development at its best; quite an art. The question is; is this a dying art?

Internet-related marketing activities are getting a lot of attention, quite rightly, but as practitioners have only so much time available for marketing, there appears to be an opportunity developing to selectively revert to old marketing practices. As lawyers have moved away from more traditional relationship building practices they may be leaving a gap for a return to old tried and trusted methods. (Sean Larkan, Edge International)

Many of us have said or heard said how clients no longer like to be lunched or invited to too many social functions. A quick coffee has become the new ‘client lunch’. Anecdotal evidence suggests however that some clients may be missing the more personal touch of old. They also, it seems, like the trust and closeness of these personal relationships that are steadily built up and strengthened over time.

Law firm leader Scott McSwan of Queensland mid-tier McKAYS feels there has been a shift – he has always been willing to try innovative new ways of delivering service or differentiating his practice or firm (he was one of the first practitioners I knew who geared up a matrimonial practice to 10 to 1) – when he mentioned he had picked up on changing trends and a possible gap he felt existed around building client relationships I took note: ‘lawyers now have ever more kinds of marketing activities to manage, undertake and keep track of – particularly via the Internet and using social media channels. However, everyone has only so much time to do non-billable work and the more time that lawyers give to these other kinds of marketing, the less time they have to give to the more traditional kinds of marketing like client relationship building!’

And what are some of these new marketing avenues which are getting attention? Continue Reading Old dogs can still play while the young guns surf

In the April edition of Edge International Communiqué three of my partners address important issues and provide insights and outline opportunities for the legal profession:

Jordan Furlong, in Law Firms and Women Partners: You’re Doing it Wrong emphasises that if firms are following typical practices in how they promote women into equity positions they are missing a strategic opportunity and effectively sabotaging their own market viability by:

Too many firms are making a dumb mistake when it comes to hiring and promoting women partners (Sean Larkan, Edge International)
  • wasting vast talent opportunities;
  • overlooking or ignoring what women (half the population) could bring to firms in various ways;
  • a continued reliance only on hours to measure productivity and contribution which short-changes women.

As a result firms are less capable and less competitive. He leaves us with the tantalising idea of the benefits that will be enjoyed by the firm which ‘gets this right’!

LLB view on this issue?

One thing law firm leaders can do much better is to actively communicate with and keep in touch with prospective women equity partners in their firms. Too often one hears of a female partner who, rather than make a fuss, quietly leaves and joins a corporate or maybe takes a break from law, too often lost forever. Also, a multi-pronged disaster for a firm. Maintaining this type of active contact and keeping the communication lines open can avert this type of issue cropping up. It requires a genuine effort from leaders which builds trust, as well as a good dose of flexibility.

In ‘Five Keys to a Successful Lateral Hiring Strategy‘, Ed Wesemann argues that law firm lateral hire strategies often don’t work , due mainly to poor execution, not the strategy itself. He sets out a workable strategy for firms to follow when lateral hiring:

  1. set the bar high enough to ensure you hire winners not losers;
  2. use internal networks to identify good candidates;
  3. do some research around your short-listed candidates;
  4. be in direct touch with candidates – they appreciate this and you will learn a lot more; and
  5. find out what the candidate is truly trying to achieve by making the move to your firm.

LLB view on this issue?
Lateral hiring should be undertaken as the implementation of an agreed strategy. Too often it arises as a partner in another firm or a search executive has approached a partner in one’s own firm. While this can sometimes still result in a happy ending, it can also waste time and divert a firm’s leadership away from the key issues and even the areas where truly strategic hires should be made.

A focused strategy using Facebook’s very own rich data on users can prove to be a boon for carefully targeted business building strategies by law firms (Sean Larkan, Edge International)

Jeff Morris offers a very interesting take on using Facebook strategically to target and engage with very specific potential client groupings in “Strategic Social Media. This is made possible as Facebook has very rich searchable data about their users. This provides a very unique opportunity to target your audience very carefully and strategically, not by talking about or trying to ‘sell’ your firm but by sharing, and doing so with content that users want to read. Jeff throws up some fascinating insights and great ideas.

LLB view on this issue:

Many law firm leaders do not view social media as a strategic tool that firms can use in this way or that they should pay much attention to. I disagree, social media interactions provide a very powerful window into the heart and soul of a law firm (and this is how others connect with us emotionally, which is critical as this is how they assess our brands) and a fascinating picture of a firm, and its all up there for everyone to see and experience. In some respects, a ‘brand offer on steroids’. So, very strategic.

Sean Larkan, Partner, Edge International

 

Law firms have become very effective in establishing functional marketing departments staffed by highly qualified and motivated personnel. All the usual categories can be ticked – communications, publications, client relationship management, events and social media. Why is it then that one is still left with the feeling that something is not quite right, something is not quite gelling? There is unrealised potential.

Getting partners or groups of partners in practice or industry sector groups working together to build practice areas, industry sector specialties or build interaction and relationships with clients can be the most powerful business building a firm does. It also has many off-shoot benefits. (Sean Larkan – Edge International)

Quite understandably, most marketing and business development efforts are focused externally – functions, publications, client visitations, media, relationship management and so on. However, as is so often the case , there remains real potential within.

Due to the nature of the profession and the professionals who people it, we tend to be competitive, individualistic and not natural sharers. We are usually of a fixed mindset disposition and to win is everything and we have an abject fear of failure. We play our cards close to our chest. But right here, amongst this partner group, lies the greatest potential to kick-start your marketing and business building efforts. Getting those self-same partners to start working together, sharing, swapping ideas, helping one another succeed.

Getting partners and groups of partners in practice areas or industry sector areas to start working together and to do so strategically and actively is not easy. But back in the time I was helping to run large corporate law firms this is where we got the most mileage. In in some cases it was startlingly successful. The good thing was that this success did not come from the leadership group – it came from the efforts and leadership of practice and industry sector heads. But, not alone, rather in conjunction with colleagues in other groups or sectors.

How to go about this? There are obviously various ways to tackle this but I have found the following framework helps things along: Continue Reading Your most powerful business building can come from interaction within