There will always be turbulence within the legal sector. With good planning however, any crisis can be anticipated and managed. By taking the time to reflect, plan and adapt, you are putting your firm into an excellent position to help deal with anything that is thrown at it.
Let 2023 be your breakthrough year!
To name a couple, in-person networking and business development have been gradually returning to pre-pandemic levels and this carries many implications, however this also creates many opportunities.
- Law firms that have adjusted to a digital-first marketing strategy are seeing results
- In a digital and online world, there is more data to analyze (which can lead to more opportunities) and more of a firms’ lawyers can now be engaged in the marketing and business development of the firm, as they are more attuned to online networking and connectivity
- Having the right technology will be critical to compete for business and those who took the time to invest now have a competitive advantage
- The way firms conduct business development has changed. During crisis clients seek stability and empathy and client service is now among the most important factors when hiring a law firm
- Law firms, specifically domestic firms, are in greater need of expanding their International referral networks. The traditional method of attending annual legal related conferences as the main source of international business development, which is tactical in nature. This is being replaced with other possibilities and perhaps for the first time, international business development is becoming much more strategical
The legal sector has for the most part been stable, compared to many other industries, as legal work is needed during times of crisis, as they are needed during times of fulfillment. Due to this stability, marketing and business development must not be cut down, but kept at a constant pace in order to help the firm stand out in the market and lead.
