LexisNexis® Legal Newsroom
    Client Attrition: Tools to Stem the Trickle of Lost Work

    One of the best ways to hone a firm’s business strategy is to dig deeper into the assumptions relied upon to devise that firm’s business strategy. At the Redwood Think Tank, we reported not too long ago that law firms, on average, lose work...

    Client Size and Profitability: Do They Go Hand in Hand?

    Concentrate on your key clients – a familiar mantra to many a law firm manager looking to boost the bottom line. But which clients should a firm designate as key? Where do you draw the line? Firms derive the vast majority of their work from their...

    Cracking the Acorn Theory: Do Small Clients Grow To Be Big Clients?

    Many law firms have a theory. Winning a small amount of work from a desirable client can be a good way to bring that client into the firm’s fold and begin a new relationship. Over time, the theory goes, if this client is nurtured properly, it can...

    Client “Deciles” Help Focus Strategy

    Research conducted by the Redwood Think Tank confirms what many business consultants tell law firm managers — that they should be judicious in devoting resources to small clients. Data indicates that small clients rarely grow into large clients...

    The Race for Intelligence

    In the US, many firms seem to have embraced not just business intelligence but also, more recently, competitive intelligence too. But UK firms seem once again to be lagging behind. Read the full article

    Strategic Planning and Marketing

    Marketing should be part of any firm's strategic plan. But this can be effective only if the marketing plan includes the situational analysis and goal-setting process described in the previous section, and if the firm has a clear understanding of...

    Is Your Firm A Milky Way or Snickers Bar?

    And which do your clients prefer? Can your clients or prospective clients determine which you are? Do they care? Merrilyn Astin Tarlton has an entertaining piece on Attorney at Work that talks about clients being like kids in a candy store. If...

    Should Your Law Firm Have a Formal Training Process for Social Media Engagement?

    In a nonscientific reader poll conducted for SmartBrief on Social Media , leading marketers (of all types) were asked: Does your company have a formal training process for employees before they're allowed to blog, tweet or post other social...

    Getting beyond the myth of the rainmaker

    Too many lawyers believe that only "natural rainmakers" can win new clients. This is possibly one of the biggest factors in poor marketing and business development in law firms. Not believing that they can be good at marketing, many lawyers...

    Cross-selling By Any Other Name

    Semantics sometimes get in the way of some good advice. When you try to convince clients (subtly or otherwise) to engage your law firm for additional services not previously rendered, I think it is silly to argue about whether you are cross-selling...

    The Relaunch of MoFo Mojo (the MoFo website)

    There has nary been a brouhaha about a law firm website as there was about the former website of Morrison & Foerster LLP . The Google analytics traffic stats were undoubtedly boosted by the lookie-lous, responding to friendly viral urges, "You...

    Smart Marketing Can Make Your Practice More Profitable

    Interesting buzz over on LinkedIn's Marketing the Law Firm group. Eric Dewey compiled "Ten Tips to Improve Profit in 90 Days or Less," and offered to send a copy to those who requested it. A bunch have. Not a lot of new stuff there,...

    Joining Organizations Is Only The Start In Getting Attention

    I've always argued that joining organizations for the purpose of business development is a waste of time for most lawyers. Too many think that by simply joining associations will result in clients flowing to the firm. On the other hand, most lawyers...

    Adopt the 20/20 Rule for More Effective Networking

    The Rule : Get to events 20 minutes early, and stay 20 minutes after it is over!! Simple huh. I usually do not link to articles or posts by consultants who refer to themselves as gurus, experts, the best or top anything. I routinely pass their stuff...

    Top 2012 Goal: Client Retention

    As 2011 winds down (this year seems to have particularly flown by), it is time to start setting goals for next year. Since approximately 80% of law firm work comes from existing clients (in the form of new work or referrals) or other referral sources...

    How to Have a Successful Solo or Small Firm Practice

    There are lots of things one can do from a marketing and business development standpoint to have a successful practice, whether you are a solo or, quite frankly, a lawyer in any size firm. Considering the fact that you will have less resources to bring...