LMA SoCal September Program – Recap
Beyond Branding: Using Big Data to Differentiate Your Firm in a Crowded Marketplace
How can you use data to help your firm standout from the crowd? In our September program, Debra Baker from Law Leaders Lab joined LMA SoCal in San Diego and Orange County to discuss how marketers can draw upon the unique “big data” inside the heads of their attorneys to differentiate their firm in ways competitors cannot. She also explored ways to use this data to create accumulative advantages that keep clients tied to the firm, aka the “sticky” factor.
Among the key takeaways
- No two lawyers are the same. Attorneys’ brains hold a wealth of information including relationships, client insights, personal and professional knowledge, how clients prefer the delivered work product, matter experience, thought leadership, market knowledge and strategies they use to apply it.
- Lawyers with equal skill and experience do not approach the practice of law the same way. Each will approach the practice of law based on their individual experiences.
Our challenge as marketers is to uncover, understand and turn that knowledge into a competitive advantage. It’s this Big Data that presents the greatest opportunities for our lawyers.
- Strategy has moved downstream and should focus on activities aimed at demonstrating cost savings and risk reductions. It is these value-based marketing and competitive advantage activities that are emerging as the drivers of corporate strategy.
- It is no longer about providing a better service, the focus must be on the needs of clients and how to position your services relative to what is important to them.
For law firms to be successful, legal marketers must help their attorneys rethink the way they provide and communicate the business outcomes our firms provide. Marketers can do that by shifting the question from “How can we bill more hours?” to “How can we deliver better outcomes to our clients?”
By uncovering the unique knowledge and data inside our firms, marketers can help to create competitive advantages and marketing strategies to educate clients on aspects of their business that clients cannot get anywhere else.