The American Lawyer 2012 Report on Growth of Am Law 100 Firms

Last week, The American Lawyer 2012 Report on Growth of Am Law 100 Firms came out.  Here is a press release with its results:

NEW YORK – April 26, 2013 – *The nation’s 100 largest law firms achieved modest cumulative growth in 2012, gaining 3.4% in total gross revenue over the prior year to $73.4 billion, 2.6% in average revenue per lawyer to $844,245, and 4.2% in average profits per partner to $1.47 million, according to the 26th annual Am Law 100 report published in the May issue of ALM’s *The American Lawyer* and at AmericanLawyer.com.

However, 2012’s gains were uneven, with only 76 firms showing gross revenue increases, down from 80 in 2011, and 66 registering higher profits per partner, down from 72. In addition, profitability gains were concentrated among the higher-grossing firms. The 50 largest firms registered a cumulative 8.0% jump in profits per partner while the others fell 3.3%.

DLA Piper, powered by an 8.6% gross revenue spurt, topped the Am Law 100 with $2.44 billion, pushing former leader Baker & McKenzie, with $2.31 billion, into second place. Latham & Watkins with $2.23 billion took over third place from Skadden, Arps, Slate, Meagher & Flom with $2.21 billion. Kirkland & Ellis retained fifth place. Jones Day took over sixth from Hogan Lovells, which fell to seventh. Sidley Austin held steady in eighth place as did White & Case in ninth. Gibson, Dunn & Crutcher moved up to 10th place from 12th in 2011.

The law firms that prospered last year “tended to have an international footprint, a strong transactions group, and a diverse set of practice areas," wrote Robin Sparkman, Editor in Chief of *The American Lawyer*. "The boutique labor and employment and immigration firms were the exception.”

"Many of these firms also have a strong brand and are known by clients for standout work in a particular area," Sparkman added. "The firms that did well also held the line on their equity partner head count and continued to raise rates, increase billable hours, or both. Some stood out for capitalizing on high-growth industries.”

Among the stand-out firm performers, for better or worse, were:

   - Kilpatrick Townsend & Stockton, whose profits per partner leaped 36.5% due to a contingency class action payment in a Native American royalties rights case.

   - Bracewell & Giuliani, which scored the group’s largest profits per partner increase, 42.2%, based on high demand from their energy industry client list.

   - Immigration-focused Fragomen, Del Rey, Bernsen & Loewy, which rose 16 ranks to number 86, its first-ever appearance on the Am Law 100.

   - Barnes & Thornburg, Chadbourne & Parke, Cozen O’Connor and Wilson Elser Moskowitz Edelman & Dicker fell out of the Am Law 100. Chadbourne was a 26-year veteran.

 

 

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Basic Design Tips for Law Firm Websites

Today's post originally appeared on the LexisNexis Law Firm Marketing Blog by Donald Rohan, a Law Firm Marketing Specialist.

Bad website design is like a bad tattoo. You went into the process wanting something that highlighted your uniqueness and attracted positive attention. Unfortunately, you got something indistinguishable from thousands of others — or worse, something that stands out for the wrong reasons.

Traditional limits on legal advertising and inexperience with design often lead law firms to overspend on websites that don't deliver maximum impact. Some firms may think they don't need to invest much in their site. But even if your firm maintains a conservative approach to a practice area like estate planning, you can present and promote yourself in a unique, attractive way.  

You don't need to be a design expert. Just keep a few basic tips in mind, and check out these examples of firms that are doing design well:

Tell a story with one dominant image.

Before viewers read a word, they should get the message you're trying to transmit. Don't distract from this message by clouding the viewer's perception with different images. Find one dominant image that works.  On this homepage, you would immediately understand the firm's international focus.

Resist visual clichés.

A picture of courthouse steps does not send a message of trial brilliance. Instead, it leaves viewers with the inability to distinguish your firm from the thousands of others with similar imagery. The first people to put a pink flamingo on their lawn might have evoked curious questions as to whether exotic waterfowl lived there, but now those plastic birds are so common, people don't even "see" them anymore. Here's a website that uses symbolism to get away from the typical images of personal injury firms. 

Think like a newspaper editor.

Without reading any of the text, a newspaper reader knows which stories merit the most attention. Those appear on top with the largest headlines and graphics. Other important stories are presented lower on the page. Interesting items that don't merit front-page treatment receive a brief mention in the table of contents with their page number. On this site, the main headline is large, clear, and well promoted, even as the images behind it shift. As you move down and outward from the headline, the secondary items appear and are easy to access.

At each stage of your website process, you should be able to identify your firm's headline, the dominant image that will accompany it and why it is uniquely matched to your firm.

Optimize Your Law Firm's Website for Mobile or Keep Losing Clients

Samantha MillerVice President of Product, Web Visibility Solutions at LexisNexis, wrote an important piece back in November about the importance of optimizing your firm's website for mobile users.  Here is an excerpt. Read it at the source, here.

Have you ever tried to navigate a website with your mobile phone or pad, when that site was NOT optimized for mobile devices?

The text is too small and the images are too large. There is way too much content and that material is basically unreadable. Pictures are not sized or placed properly. If you can even find the scroll bar or tabs, you have to keep swiping. And forget about trying to find any contact info.    

In short, the website looks and feels terrible.

If you are a consumer in urgent need of legal information or actually need to find an attorney, you're moving on to another firm's site.

LegalTechNY Discussion: Barriers to Social Media Adoption

At LegalTechNY, Steve Mann, chief marketing officer of the Research & Litigation Solutions business at LexisNexis, posed this question to Stephen Fairley, chief executive officer of The Rainmaker Institute and myself: If we have passed the tipping point for firms to use social media, why are so many firms reluctant to dive in?

 

 

Shhh! The #1 Secret to Boosting Client Referrals

Stephen Fairley shares with us the #1 secret to boosting client referrals and retention in this blog post that can found on the Rainmaker Blog.

When it comes to communicating with clients, listening is often more important than talking. It is by listening that you learn what clients want, and then you can give it to them. Which makes for more referrals and better client retention.

Here are some important methods you can use to actively listen to clients:
 
Open feedback. Always offer clients a way to provide feedback, through your website, an online survey and in your e-newsletter campaign. Simply asking for their thoughts is often enough to garner some important insights.
 
Transactional feedback. If you’re a regular Starbucks customer, you have undoubtedly received a free survey at some point with your receipt. You provide them with some feedback online and you get a free drink for your efforts. What attorneys can learn from this is the importance of asking clients for their thoughts about their experience with your firm after the case is over or at important points along the way. Keep your finger on the pulse of how satisfied they are with how your firm is treating them, and you’ll have a satisfied client.
 
Social media interaction. Monitor your social media channels to see what people are saying about you. You can search for your firm name on Twitter and Facebook , and you should be regularly monitoring Avvo, FindLaw, Yelp and Google for other comments about your firm.
 
Client satisfaction surveys. Using formal client satisfaction surveys is another good way to gauge client experiences with your firm. Send one out after each engagement is closed and respond immediately and personally to any negative feedback.

LFM Second Annual AmLaw 200 and Global 100 Mobile Web Survey

Global 100 firms with mobile sitesThis is a guest blog post by The Law Firm Mobile (LFM) blog. In December, LFM released its second annual research on which firms from the AmLaw 200 and Global 100 have entered the world of the mobile web (the first report can be found here).

Below are following sections: an overview of the report, statistics describing the extent of mobile web site penetration for large law firms, statistics regarding the type of content used in firm web sites, and a final section on mobile web best practices. The final section of this report provides a detailed list of the names of law firms with hyper links to a screen shot of each respective firm’s mobile site along with the URL for that site.

Overview

  • Of the firms on the 2012 AmLaw 200 list, 54 firms (27%) have mobile sites. This is an increase of 46% (17 additional firms) from 2011. Of the firms on the 2012 Global 100 list, 29 firms (29%) have mobile sites. This is an increase of 32% (7 additional firms) from 2011.
  • Of the firms on the 2012 AmLaw 200 or Global 100 list with a mobile websites, most firms (67%) have from 7-9 total content types for the mobile site.
  • Of the firms on the 2012 AmLaw 200 or Global 100 list with a mobile website, the most popular type of content offered to users is Professionals/Attorney Biographies (59), Offices (53), and Practice Areas (52). The next set of content includes News (45), About the Firm (42), Careers (40), Events (38), and Publications (34). Some of the least used content types included Contact Us (13) and Industries (9).
  • Even with the increase in firms with mobile sites, the majority of large law firms in the AmLaw 200/Global 100 do not yet have a mobile web despite the significant growth in smartphone use.

See the remainder of LFM's findings on the LFM blog here.

 

Google+ for Businesses

This post has two parts.  Part one is an inforgraphic that my colleague, Stephen Fairley, shared on The Rainmaker Blog that explains 7 benefits Google+ provides for business. Part two is a video that explains the benefits of using Google+ instead of Facebook.  This can be particularly beneficial for businesses.  Although I would counter, using both gets your business out in social media more fully, which translates into more business.

Fairley states: "Google+ is one of those social media networks that many attorneys are still not sure what to do with...but with more than 500 million members now making it the fastest growing social media site ever, it’s worth your time and attention.

The following video answers the all important question: Facebook or Google+? 

 

 

 

4 quick advantages Pay-Per-Click has over search engine rankings

Robert Hodge, a Law Firm Marketing Specialist with LexisNexis, offers 4 advantages of using Pay-Per-Click over search engine

Immediate launch — We quickly develop a targeted keyword campaign for Google, and ads can go live within minutes.

Flexible budgets — We can set daily and monthly budget caps to ensure you never spend more than you're comfortable with.  We will change keyword bids and budgets on the fly to respond to the dynamic auction environment.

Highly targeted — Geo-targeting and geo-modified keywords means you can more easily reach the consumers near you or in targeted markets.

Control — Have a high level of control over your marketing message. Paid search advertising lets advertisers control what your listings say and how they look on the Google results page.  We also specify targeted landing pages, so you're able to drive users to the page that has the exact information they're looking for.

How to Realize Your Dream of a More Profitable Law Practice in 2013

On Monday, Stephen Fairley of the Rainmaker Blog, wrote about his next webinar that is to be held tomorrow, January 24th at 1 p.m. ET.  Read on to learn how you can register for this webinar that will provide ways to bring your dream law practice into reality.

____________________________________________________________________________

Today we’re celebrating Martin Luther King, Jr. Day and I know that many of you have a dream, too...a dream of building a law firm that allows you to live the life you’ve always wanted to live while doing satisfying work that you enjoy.

The question plaguing most of you is, how?

Start by signing up for my webinar this Thursday, Jan. 24 at 1 p.m. ET/10 a.m. PT: The 5 Best Strategies to Beat Your Competition in 2013.

Knowing which legal marketing strategies are working in today’s economy gives you a huge advantage. Implementing the correct business development strategies allows you to spend less money and get better results faster!

Join me on Thursday, Jan. 24 at 1 p.m. ET/10 a.m. PT for a one-hour webinar where you will discover:

  • Why you can’t afford to dismiss social media any longer (Google is forcing you to use it)
  • 3 major ways to triple your website traffic in the next 90 days
  • How to use online tools to generate more offline referrals
  • 3 keys all the best law firms are using to turn more website browsers into buyers
  • 2 critical numbers you must track every month to measure your success
  • Specific ways to jump-start your marketing efforts fast…even if you’ve stumbled before
  • Last year many of our clients experienced their best year ever! How is that possible when we are in the midst of the biggest recession our generation has ever faced?

It’s simple, they developed a game plan based on best practices and proven strategies and then they consistently took massive action! Notice I said it was “simple” not “easy.” There is no “easy” way to build a million dollar book of business, but if you’re willing to do the work we can show you the right path to take.

Click on this link  to register now for The 5 Best Strategies to Beat Your Competition in 2013 webinar on Thursday, Jan. 24 at 1 p.m. ET/10 a.m. PT.

All registrants will receive a recording of the webinar to watch at their convenience, so if the scheduled time doesn’t work for you, you can still get this critical knowledge by getting your own copy of the webinar recording.

 

"Mark It On Your Calendar"

In an article titled, "Mark it on Your Calendar: January Blog Topic Ideas for Attorneys", LexisNexis Senior Director of Product Management for Web Visibility Solutions, Samantha Miller, gives ideas on blogging for attorneys.

Insightful, timely blogging that uses current events as a hook is an effective way attorneys can market themselves.

For January, in the wake of the tragic Newtown, Conn. school shooting, President Barack Obama has appointed a government task force — spearheaded by Vice President Joe Biden — and charged it to propose solutions to gun violence. The task force is expected to make recommendations sometime in January and the president has said he'll take quick action on their suggestions.

As part of your law firm marketing efforts, engage clients by discussing how existing and proposed gun legislation may affect them. Here are some topic points for your blogging:

  • Retail clients that sell guns, ammunition and other weapons must have detailed policies and procedures for handling these sales. Will processes need to be changed if new legislation is passed? Do store employees need new training? Some retail stores may have some employees — such as managers or security guards — who are armed in the event of a robbery. How will changing gun laws affect those individuals?
  • Business clients as well as government agencies need to have emergency response plans in place in the event of a workplace shooting or other violence that leaves employees and guests injured or killed. Counsel your clients on how to create and implement these plans.
  • Winter and spring are active hunting seasons. Remind hunters of the process for obtaining a hunting license and gun permit, as well as the local laws related to hunting various types of game.
  • All gun owners should be well educated on the guidelines for safe gun handling and storage. Homeowners will also want to ensure that their property insurance company knows they have guns in the home. Make sure firearms owners know that they could be personally responsible if someone is injured or killed by their unsecured guns.
  • Firearms owners and gun opponents may want to contact their elected officials and provide feedback on proposed legislation. Guide clients through the process of identifying their city, state and federal representatives. Also offer tips to help people express their opinions in a persuasive manner.
  • What do gun owners in your area need to know if they want to sell or otherwise dispose of a firearm? The rules related to private sales vary depending on whether the buyer and seller live in the same state or different states.
  • People convicted of certain types of crimes cannot legally own, possess, transport, ship or receive firearms. Criminal defense attorneys should talk to those clients about the ramifications of firearms ownership and how a convicted criminal can legally relinquish a gun in his or her possession.

Read more of Samantha Miller's tips here.