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…)
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….
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.
Growth 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.
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…)
Don’t miss out. Entries have been extended to 26 September 2014.
Check out the Client Choice Awards website at www.clientchoiceawards.net for more information on how to apply.
If you still need more reasons to apply then here are some glowing testimonials from 10 leaders of professional service firms who have been finalists or winners in the past. (more…)