ALM Legal Intelligence has released a new survey of firms with 40 – 200 lawyers, presented by the LMA Capital Chapter and J. Johnson Executive Search, to continue exploring the challenges and opportunities of this growing market.
This cohort continues to express desire to invest in activity and infrastructure that will add rigor to their business development and marketing, particularly with regard to process and infrastructure to win new business and expand existing business.
Interestingly, the smaller grouping (40 – 70 lawyers) had more processes to secure organic growth from existing clients. The group of larger firms (75 – 200 lawyers), like their Am Law 100 competitors, have been focused on designing processes to enhance ability to win business from new clients.
Most of the respondents expressed that their teams’ greatest successes in the past year had been connected to brand-building efforts such as website redesigns and increased media relations and content creation. However pointing to the overall desire for more structure and process, most of the firms also expressed a lack of rigor around business development including RFP processes and client feedback initiatives.
For a full copy of the new report, please contact ALM Legal Intelligence. LMA Capital Chapter members are eligible to receive a $100 discount off the purchase price. If you are an active member, and would like to recieve the discount code, please contact Jennifer Bonesteel.
By Corey Garver, Client Development Manager, Shulman, Rogers, Gandal, Pordy & Ecker, P.A. for the May/June 2015 issue of the Capital Ideas Newsletter.