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Research. Reveal. Resolve

What most law firms don’t know about their clients, Part 2

December 7th, 2014 |

In October Daria Radchenko, Eric Chin and I revealed an important fact regarding what most law firms don't know about their clients.

In this post we publish more findings from our analysis of the data about law firms.We show the very strong correlation between the number of practices groups a client uses and their level of satisfaction does not depend on the size of the law firm or the position of the client.  (more…)

Posted in Beaton Benchmarks, Highlight, Law, Professional Services | No Comments »

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What most law firms don’t know about their clients, Part 1

October 28th, 2014 |

Amidst the tough times for law firms there's deep insight, opportunity and hope in a new research finding that reveals what most law firms don't know about clients.

If this sounds too good to be true, it's not. It's based on analysis of the responses on 7,061 individual buyers and users of the services of corporate and commercial law firms. (more…)

Posted in Beaton Benchmarks, Highlight, Legal, Professional Services, Strategy | 8 Comments »

Selling legal services – the importance of relevance and behaviour

October 27th, 2014 |

In response to readers asking me to follow up on my earlier blog that addressed the art of selling professional services generally, I have written this post on selling legal services. In it I identify the unique process and criteria clients use to select and retain their lawyers.

Many law firms and their lawyers still believe that expertise is enough to differentiate themselves, well no that’s not true, read on….

(more…)

Posted in Beaton Benchmarks, Highlight, Law, Legal, Professional Services | No Comments »

Highlights from the latest CBA Legal Market Pulse report

October 23rd, 2014 |

Highlights from the latest CBA Legal Market Pulse report were presented to enthusiastically engaged audiences of law firm leaders in Adelaide and Melbourne last week.

 Senior executives from more than 30 law firms engaged to share their views on the industry and the outlook for the Australian economy. Three key topical points stood out.

Picture1Growth in the proportion of revenue from AFAs (alternative fee arrangements) is increasing – and will almost certainly continue to rise among Australia’s top law firms. On average, 28% of firms’ revenue comes from AFAs, a 5% increase compared to last year. This figure is expected to rise to 33% in the next 12 months.

Australian law firms are under more pressure from clients to use LPO (legal process outsourcing). Two in three top-tier firms agree that this pressure is growing, similar to trends seen across Europe and the United States of America.

In addition to providing pro bono services to the not-for-profit sector, a substantial proportion of law firms use these relationships to derive commercial returns. It appears that there is commercial importance in the not-for-profit sector, particularly in employment, workplace and OH&S and litigation and dispute resolution services. 

The CBA-Beaton Legal Market Pulse is conducted quarterly among the CEOs/Managing Partners of the top law firms in Australia. To obtain a full copy of the report, please click here.

Further reading:

This post was written by William Wong, a senior project manager with Beaton Research + Consulting. You can also find William on LinkedIn.

Posted in Beaton news, Highlight, Law, Legal, Professional Services | No Comments »

The importance of relevance and behaviour in selling consulting and environmental engineering services

October 3rd, 2014 |

This post on selling consulting and environmental engineering services is written in response to readers asking me to follow up on my earlier blog on the art of selling professional services generally.

This post is based on findings over many years in the Beaton Benchmarks studies in consulting and environmental engineering services. The post drills down into selling consulting and environmental engineering services – and reminds us of the real value of hard data in designing and executing our strategies. (more…)

Posted in Beaton Benchmarks, Engineering, Highlight, Professional Services | No Comments »

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