Marketing can and should be a critical partner in the strategic planning process from inception to implementation. The goal of every law firm should be leadership status in the markets in which it has chosen to compete. Most law firms recognize that they need strategic plans to help them achieve their leadership aspirations. Mary K Young discusses strategic planning as a process through which the firm identifies its most important markets, agrees to a vision for achieving leadership in those markets, and develops and implements a plan for achieving the vision. i.e. how a firm decides where it wants to go and how it will get there.

It’s natural that law firms overhaul their image to win and keep clients. But experts say recruiting and retaining talent should be key considerations too.  Mary K Young points out the importance of defining the target audience when developing a branding approach and that other industries that rely heavily on talent have made more of an investment in crafting their image and brand around employees and hiring considerations.

Legal recruiters say there's still huge demand for blockchain expertise, as well as lawyers who understand data privacy. Blockchain and cryptocurrency are fast-growing specializations within the financial industry, and law firms are busily snatching up lawyers with expertise in the emerging fields.  Mary K Young notes that privacy law has also grown tremendously, and that most global and national firms have added significant capabilities in privacy and data security in the last five years.

Kent Zimmermann is one of the leading strategy advisors to law firms in the United States. Last year, he advised on each of the three largest law firm mergers to close worldwide. He is currently advising multiple firms on active merger discussions, and he is also advising three Am Law 25 firms on firmwide strategy.  Here Kent offers some perspective on legal trends and the challenges and changes facing law firm chairs and managing partners.

Mary K Young discusses the importance of strategic planning as a driver of success in any organization and how strategic plans enhance the success of the marketing and business development team, and outlines the planning process and marketing's role in that process.

Mary K Young offers some insights into how law firms could handle changes at the firm -  specifically, attorney departures - and how to communicate these changes internally as well as to firm clients, and how law firm culture can impact the hiring and recruitment process.

Many law firms are competing to attract and retain client relationships that are increasingly larger pieces of a shrinking overall pie of client spending on outside law firms. In addition, traditional client relationships face four growing competitive forces that are taking market share away from Am Law 200 law firms and creating impediments to transitioning client relationships.  Kent Zimmermann outlines five drivers of successful client succession planning based on best practices of high-performing firms to combat these concerns.

Silicon Valley's tech companies helped establish Fenwick as a force. Now outside law firms have eyes on the region, the work and Fenwick's lawyers.  Kent Zimmermann notes an increased competition for sought-after lawyers and discusses the benefits of occupying a defensible long-term position of preeminence.

As firm leaders of the Boomer generation age, leadership succession planning is key. Polsinelli’s process has taken years and involved consultants, interviews, and questionnaires.  Kent Zimmermann discusses issues that prevent firms from addressing it and some factors to consider when planning for succession.

A summary of findings from Zeughauser Group's survey of Boston law firms, focusing on the potential for mergers and combinations, likely growth areas and geographies, and future priorities and challenges.  Survey respondents were exclusively managing partners and other senior leaders of Boston law
firms ranging in size from approximately 10 to 200 attorneys. 

For more information about this survey, contact Kent Zimmermann at [email protected] or (312) 810-8008.