Research and news relevant to the law profession
Better complaint handling is a big opportunity for every professional services firm. So Beaton is very pleased to re-publish ‘Loyalty moments and online dispute resolution – a lesson about complaints?', the first post from Professor Richard Moorhead on our Research. Reveal. blog. (more…)
One of my professors once flippantly remarked that in legal practice, the most amusement associates can have is giving juniors the task of checking inconsequential minutiae in a contract – and asking for it to be returned before they went home yesterday.
At once cruel and amusing, this is also a basic form of outsourcing: sending minor or mundane work to less experienced staff who operate at lower cost. (more…)
I still recall the (somewhat tongue in cheek) advice I had from the senior partner of the firm I was with in the early 80s...
“When you send out a big bill, I mean an eye-watering bill, send it out on a Friday and don't come to work on Monday – let someone else take the call from the client".
Cynical? Yes, but symptomatic of most lawyers approach at the time. (more…)
In Australia it used to be that we talked about the Big Six law firms. But the wave of globalisation in the last five years has washed away the old familiar shoreline, leaving in its place outcroppings of mergers, greenfield start-ups, and acquisitions. In its wake, some old names have vanished, others have mixed with new, and new-to-Australia names now abound – all as the winds of globalisation blow. (more…)
This post explains why firms need to avoid impulse bidding when times get tough. And Keith Dugdale, our guest blogger, advises what firms should be doing instead to win new work.
‘Panic stations’ is a feeling all too many firms experience as they head down the slippery slope of starting to believe ‘Because you never know, we just might win’, ‘Anyway, we really need the work’ and ‘We’ve got salaries to pay, and there’s not much work around.’ (more…)
This video post examines what international law firms can learn about brand purpose from corn flakes.
In four minutes I explain the answer – why brand purpose matters so much and why brand purpose will be critical to winning the differentiation war that is being fought by international law firms.
These are unprecedented times for partner mobility in the BigLaw part of the legal ecosystem, driven by clients, firms themselves and talent.
As firms reposition themselves for the new market dynamics summarised here and here by my colleagues Warren Riddell and George Beaton, respectively, there is a cascading of talent between the different law firm tiers: (more…)
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…)
Beaton's research amongst 10,000s of clients of professional services firms over the last 10 years shows that perceived price is positively correlated with the value perceived by clients. Yes, that's positively correlated. In other words, the higher the price, the higher the value perceived by current buyers users of the service.
In these days of enormous price-down pressure on every firm in every profession, this finding – that perceived price is positively correlated with perceived value – warrants repeating. And explaining. And testing. And learning to use in practice. That's because it's seems at odds with everyday experience of firms. (more…)