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Legal professionals understand the importance of staying informed about breaking developments in the business world, but it is especially critical for them to be on top of legal industry news and trends. Making smart decisions for your firm and your clients requires access to timely updates and insights about developments in the courts, legislatures and specific areas of practice.
These types of industry-specific reports are only generated and published by news services that focus exclusively in the legal domain. Law firm professionals know first-hand that the leading legal news services cover their space with a degree of sophistication that is not possible from general business news services.
What is sometimes less obvious is that legal news services are not only critical tools for the practice of law but are also valuable for generating new business opportunities.
Law firms can leverage legal news services to support their business development strategies by using them as a platform to showcase their expertise, gain industry visibility through published articles and thought leadership pieces, monitor legal trends, identify potential clients through news coverage, and access rankings that highlight their firm and lawyers. Here are seven specific tips to consider:
Staying updated on the latest legal developments and industry trends through legal news coverage monitoring allows law firms to pro-actively identify potential client needs and opportunities.
Attorneys can write articles and provide their analysis about relevant legal issues to establish themselves as experts in their field, which can be seen by clients and industry peers.
Legal news services regularly publish rankings of top law firms and lawyers across various areas of practice. These can be used by firms to demonstrate their expertise and attract clients seeking counsel in specific areas where they excel.
Firms can showcase their public service work and social impact initiatives to demonstrate their commitment to broader social issues that may align with the corporate values of prospective clients.
Attending educational events and professional conferences sponsored by legal news services can provide lawyers with opportunities to connect with potential clients and other legal professionals.
By analyzing data published by legal news services regarding legal trends and client behavior, law firms can tailor their business development strategies to better meet changing client needs.
Law firms can partner with a legal news service to identify narrow advertising tactics that help them reach their desired audiences with targeted campaigns, highlighting their expertise in specific areas of practice or geographic locations.
Of course, none of these strategies are automatic nor easy to execute. For example, any published articles must be well-written and insightful for the content to be useful to the target audience and therefore beneficial to the firm as a business development tool. And firms must commit to active monitoring of any legal news service to make sure they stay informed and don’t miss any breaking news alerts.
When properly leveraged, legal news services can be a powerful ally for law firm business development by showcasing expertise and building credibility in the industry, ensuring timely awareness of relevant news, facilitating client relationship building and enabling targeted marketing.
Law360 is an award-winning legal news service that is the #1 paid online service used for legal news by law firms, according to the American Bar Association’s “Profile of the Legal Profession” study. The vast network of Law360 journalists, data scientists, editors and experts — along with the most advanced technology and analytics — are in action around the clock to make sure legal professionals are fully informed and equipped to do their best work at all times. Start your free trial today.
Law360 is accessible from the Lexis+ Legal News Hub, which provides law firms with access to the most trusted news that fits seamlessly into your daily workflow, any time you need it. This content enables firms to stay current on breaking news, review the important legal stories of the day and gain insight on significant practice area developments.
The Legal News Hub is also available on the new Lexis+ AI platform, the industry’s most comprehensive generative AI legal research solution.