McKinsey: Two Marketing Approaches for Law Firms

The McKinsey QuarterlyThe lofty McKinsey Quarterly published an article on "The Evolving Role of the CMO" in their September issue, and offers marketing advice law firms can use.  Save yourself the $150 they want for the article, and read Bruce MacEwen's blog for a summary of the piece.  Quoting Bruce:

"Clients' law firm selection process has changed.  You can offer them two value propositions: 

  1. The "low-cost, time-saving," direct, commodity approach, or
  2. The "higher-value, more service-oriented" track.  

Beware being neither."

Bruce adds: "And what can the firm chair or managing partner and the senior firm leadership do to advance the marketing cause?

  • Make sure you truly and deeply understand how clients and prospects view your firm.  The image you're trying to project may not accord with the perception being received.  Understand what influencers, traditional and otherwise, may be saying about your firm, and bring them to the table.  It perhaps cannot be said too often that the primary task of firm leadership is to communicate—to internal and external constituencies.
  • Ensure the CMO is connected to the people who matter within your firm.  Make sure the CMO is included whenever senior firm leadership comes together.  After all, they can't project a progressive and accurate image of your firm unless they're getting today's news.
  • Lastly and most importantly, think through the marketing effort with the CMO.  As McKinsey puts it, be a "thought partner."  If you truly want your marketing organization to mirror the excellence of your firm, your CMO—and more importantly, the audiences your marketing department is addressing—deserve no less."
Trackbacks (0) Links to blogs that reference this article Trackback URL
Comments (1) Read through and enter the discussion with the form at the end
Continuing Legal Education - September 20, 2007 11:09 AM

It is so important to be self aware in your own marketing. Get outside advice on how marketing efforts are being received. What may seem nice and simple to someone on the inside might be annoying and complex to someone who never heard of your firm.

Post A Comment / Question Use this form to add a comment to this entry.

Remember personal info?