Larry Bodine Law Marketing Blog : Law firm marketing, legal editor, legal marketing, attorney marketing, business development, marketing consultant, legal consultant, business development

Tricia Meyer is our guest author who gives her advice on growing a law firm.

Like any business, a law firm must strategize to attract clients. Through networking, mentoring and participating in speaking engagements, I have shared my expertise and built credibility in my community and within my practice area. This has ultimately helped me grow my business. Following are a few tips I have learned along the way I think other lawyers, and business owners in general, will find helpful.

1.     Hold office hours

Many local chambers and business organizations provide client services firms the opportunity to host office hours and meet briefly with their members. I host office hours regularly, which has afforded me the opportunity to help entrepreneurs and connect with people outside of my network. Meeting people and making an impression before they actually need your services is a great way to start relationship building and letting people know how you can help them in the future. I have garnered many new clients who have come back to me as a result of the time I spent with them during office hours.

2. Share your knowledge through speaking engagements

Speaking engagements will position you and members of your firm as experts, allowing more people to know who you are, what you do and how you can help. 

Select speaking opportunities where you can address a specific issue and demonstrate you know the topic inside and out. This will also attract a more targeted audience of people interested in the topic you are addressing. Also, think outside the box and seek speaking opportunities that help you reach markets where you want to grow your business.

3. Manage your calendar thoughtfully

When you consider speaking or networking event opportunities, evaluate each one to ensure you’ll be exposed to potential clients or meaningful connections. You and your firm must participate in enough events to make an impact, but it is crucial not to spread yourself too thin. Aim to speak often but not everywhere; you want people to look forward to a chance to hear you speak. 

Tricia Meyer is managing attorney of Chicago-based Meyer Law, specializing in tech. She is well connected in Chicago's tech community, regularly provides office hours at a local tech co-working space, and speaks at events geared toward tech entrepreneurs. She credits all of these things for Meyer Law's successful growth. 

See this press release from Friday, June 21, 2013.  Click here for original source.

BTI Consulting Group’s research sees projected 2013 growth of only 1.8% in outside counsel spending.

For those not currently engaged with clients in redefining value outside of rates, we recommend a serious discussion with your clients about their goals in bringing work in house.

Corporate legal departments shifted $5.8 billion from their outside counsel budget to internal spending. BTI Consulting Group's newest release of BTI Benchmarking Corporate Counsel Management Strategies reveals corporate counsel at the world’s largest companies continue to move dollars in house—and away from outside counsel. The shift drives a paltry projected 2013 growth of 1.8% in outside counsel spending instead of a 5.1% compound growth rate had corporate counsel spent the money on outside law firms.

Corporate counsel are bringing the following practice areas in house: 

•     IP prosecution
•     Licensing
•     Complex commercial contracts
•     Litigation
•     Regulatory and compliance

Corporate counsel’s top goal is to wring more value from their scarce legal dollars. “Shifting money in house and away from law firms is one value generating opportunity,” comments Michael B. Rynowecer, President of BTI. “For those not currently engaged with clients in redefining value outside of rates, we recommend a serious discussion with your clients about their goals in bringing work in house.” Continues Rynowecer, “devise your strategy to help your client exceed their goals faster than they might on their own.”

BTI conducted more than 300 independent, individual interviews with CLOs and General Counsel at Fortune 1000 companies and large organizations. Now in its 13th year, BTI conducts the only continuous benchmarking market study of corporate counsel worldwide.

Find more information about this and other compelling research at http://www.bticonsulting.com or contact BTI at 617.439.0333. BTI is the undisputed leader in providing high-impact strategic research to professional service firms and their clients.

When creating and updating your firm's website, do you consider what practices match the journalists who you are pitching your expertise and services?  If not, start now. 

TEKGROUP International recently released the 2013 Online Newsroom Survey Report.  It covers how editors, reporters, producers, correspondents and bloggers work with online newsrooms, digital audio and video, press release distribution services and PR professionals in general. 

This survey will help you determine in which areas your website and newsroom need improvement.  Here are some highlights:

•  97% of journalists find an online newsroom important.
• Two key areas saw dramatic increases in expectations of journalists - social and mobile.
• 90% of journalists like to receive targeted email alerts with relevant news for them.
• Does your online newsroom have a landing page for access to all your social media links? Over 50% or those surveyed found a landing page for social media important.
• 2013 shows a 33% increase in visits to corporate Facebook pages.
• Journalists agree that access to biographies for your company/firm's executives is very important.

Click here to download the survey results.

About TEKGROUP International

TEKGROUP International, Inc. is an award winning Internet software and services company that  develops social media online newsrooms and e-business software solutions. Our website can be found at http://www.tekgroup.com and you can also follow our Online Newsroom Twitter account at http://www.twitter.com/onlinenewsroom.

The Chicago chapter of the Legal Marketing Association presented a dozen "Your Honor" awards for excellence in marketing at a ceremony in a classy Loop restaurant recently.  Law firms were honored with an achievement award in the following categories:

• Advertising Campaign: Levenfeld Pearlstein LLC & Hunter Design – "Unusually Good"
• Identity: Davis & Kuelthau – "Positive Change"
• Promotional & Collateral Materials: Katten Muchin Rosenman LLP – "Demand Something Different"
• Promotional Gifts: Davis & Kuelthau – "Positive Change: Lockbox"
• Public Relations / Community Relations: Ice Miller LLP – "Indiana CEO Survey Project"
• Public Relations / Community Relations: Mayer Brown LLP – "Global Financial Markets Initiative Teleconference Series"
• Recruiting / Professional Development: Katten Muchin Rosenman LLP – "Demand Something Different"
• Sales / Business Development: Levenfeld Pearlstein LLP – Rate Freeze 2009
• Vendor Partner of the Year: Regis Marketing Group – for work with Davis & Kuelthau
• Web Sites and Other Electronic Media: Katten Muchin Rosenman LLP – Web site Redesign Project

This year, the  judges thought two entries stood out among the others in their categories. To reward the uniqueness and ingenuity of these entries, the judges created a special "Judges' Innovation Award." This category was not available for entry. The two winners in this category were:

• Baker & Daniels – "Baker & Daniels Takes Flight into Identity Launch"
• Valorem Law Group – "valoremlaw.com – The Billable Hour is Dead" - visit here to read a detailed account

The highlight of the evening was the newest inductee into the LMA Chicago Hall of Fame, Donna L.G. Shaft. Shaft has dedicated more than 20 years of her time to the legal marketing profession. She was one of the early presidents of LMA and LMA Chicago, and she served on our chapter board many, many times. Shaft is a frequent volunteer, most notably as chairperson for many committees on the local and international level. As a marketing services consultant, Shaft's client list is a who's who list of professional services firms.