Domain: Business of Law
Today’s law firm senior management is focused both on the big picture and
the details. Leaders are targeting the macro strategy of expanding the revenue portfolio and also the micro strategy of extracting profitability from existing clients. In this current legal industry environment, firms face twin challenges of ensuring sustainable growth over the long term while continuing to create additional profits in the short term. Understanding the underlying frameworks and helping realize these dual directives is critical for the modern law firm marketing and business development professional.
In this session, we will discuss these concepts and the role that marketing can play:
- Macro strategies of revenue-enhancing mechanisms along the risk-return continuum
- Pros, cons and financial impacts of selected strategies
- Maximizing returns while minimizing risk over the long term
- Micro strategies of creating additional profits from the current revenue portfolio
- Levers of profitability, such as expectations setting, pricing, matter
- management, client disbursements and inventory control
- Maximizing profitability through effective management of profitability levers
Madhav Srinivasan, Chief Financial Officer, Hunton & Williams LLP
Member Price: $59
Prospective Member Price: $79
This session includes video, audio and synced presentations for an enhanced virtual learning experience.