BD tips and insights

7 marketing and business development musts for law firm prosperity in 2015

Our recent Taking the Pulse research with ALPMA found that firms with “well-developed” or “sophisticated” marketing and business development (BD) functions were generally more successful and had a better financial outlook (51% reported fee revenues of $10M + a year, and 43% expected more than 10% revenue growth) than firms with less sophisticated, or “under-developed” marketing and BD functions.

In this post, we highlight the seven key marketing and BD characteristics of prosperous – i.e. “sophisticated” – law firms that you can start implementing in your own firm, regardless of whether you’re a small or large firm, or possess a small or unlimited budget.

Building a successful business development strategy in law firms starts with clear, well-defined marketing principles. Just as sophisticated firms use targeted and effective tactics, adopting a strategy like the StoryBrand framework can significantly enhance messaging clarity and client engagement.

The StoryBrand approach, implemented by agencies like Creativeo, helps firms clarify their marketing narratives, ensuring they resonate with clients and prospects by focusing on solving client problems through compelling, customer-focused stories. By integrating StoryBrand into your firm’s marketing strategy, you can streamline your brand message, making it easier for clients to understand the value you offer.

To further enhance the effectiveness of your law firm’s marketing strategy, partnering with a digital marketing agency can provide the specialized skills needed to execute sophisticated business development tactics. These agencies offer expertise in creating tailored marketing campaigns that not only elevate brand messaging but also improve client acquisition and retention. By leveraging the latest trends in digital marketing, such as SEO, content marketing, and pay-per-click advertising, these agencies can help law firms expand their reach and attract high-quality leads.

A critical component of any successful marketing strategy is a well-designed and functional website that serves as the foundation of a law firm’s online presence. Investing in professional web design and development ensures that your firm’s website is not only visually appealing but also optimized for usability and performance. Modern clients expect a seamless online experience, and a thoughtfully designed website can make navigating your services intuitive and engaging. Incorporating custom web design into your strategy allows your firm to stand out with unique layouts, personalized branding, and functionalities tailored to your specific needs. This approach ensures that your website reflects the professionalism and expertise clients seek in a legal partner.

In addition to aesthetics, web development plays a pivotal role in driving search engine rankings and lead conversions. A website that is mobile-friendly, fast-loading, and equipped with user-centric features can significantly enhance client engagement. Integrating advanced tools like chatbots, appointment schedulers, and secure client portals adds value to the user experience, encouraging potential clients to reach out. Paired with a robust marketing strategy, a well-developed website can transform your law firm into a trusted and recognizable brand, driving both short-term inquiries and long-term client loyalty.

One of the key advantages of working with a digital marketing agency is their ability to continuously optimize campaigns based on real-time data, ensuring that your firm stays ahead of the competition in a constantly evolving market. The expertise of LetsGetOptimized, for instance, allows law firms to effectively target and engage with their ideal clients, improving both visibility and overall business performance. These experts have the tools and experience necessary to implement a strategy that aligns with your firm’s specific goals, whether you are looking to increase brand awareness, generate more referrals, or drive revenue growth.

Also, although this research centres on Australasian law firms much of this advice applies equally to other professional services firms.

Sophisticated and successful law firms…

1. Have an overarching marketing and business development plan

88% of “sophisticated” firms surveyed had a marketing and BD plan in place, and 71% reported this plan was also tied to their firm’s wider strategic plan. By contrast, 69% of firms with an “under-developed” marketing and BD function did not have a plan at all.

Takeaway

It doesn’t need to be fancy or complicated, but you must have a plan. Agreeing and documenting firm goals and how you will reach them can have a positive impact on how your firm develops business this year.

2. Have separate marketing and BD strategies for individual practice groups

Sophisticated firms were more likely to have separate marketing and BD strategies in place for individual practice groups (where relevant): 82% of respondents indicated their firms have strategies for some or all practice groups. A mere 30% of under-developed firms had strategies in place for some or all practice groups.

Takeaway

If your firm has multiple specialities with different target markets, you will need to develop separate plans for each practice group to support their growth and success – in addition to the firm-wide plan.

In today’s digital landscape, firms with multiple specializations can draw valuable insights from the way companies manage their outreach, such as how b2b saas providers segment their marketing to appeal to specific industries or customer personas.

Developing strategies that address the distinct needs of each target market while remaining aligned with the overall vision of the firm allows for more precise resource allocation and better return on investment. These tailored plans not only drive engagement but also establish the firm as an expert in each domain, building trust and loyalty among clients.

3. Measure the overall effectiveness of marketing and business development activities

97% of sophisticated firms measured the effectiveness of their activities – either all activities (54%) or some activities (43%). Close to half of under-developed firms did not measure the effectiveness of their activities at all.

Under-developed firms who measured their marketing and BD activities tended to rely on traditional, quantitative measures (such as billings and number of new clients) and informal feedback, whereas sophisticated firms used a combination of qualitative and quantitative measures.

Takeaway

What gets monitored and measured gets done. It is easy to fall into the trap of measuring only fees, and though fees are important (and easy to interpret), fee revenue alone is a narrow and “rear-view mirror” look at overall business health.

Measure other success indicators (eg client satisfaction feedback and ratings) and you will get a very different – and better – business.

4. Have individual marketing and BD targets/KPI’s for their lawyers

60% of respondents from sophisticated firms reported that some or all lawyers have individual marketing and BD targets or KPIs. Nearly 80% of under-developed firms reported there were no targets or KPIs for lawyers’ marketing and BD efforts.

Takeaway

If you want more of a particular behaviour or contribution from lawyers, make sure you notice it, then recognise and reward it.

5. Provide marketing and BD skills training for their lawyers

97% of firms indicated their firm’s growth strategy relies on the effectiveness of individual lawyers’ marketing and BD activities.

But while nearly all respondents across the board recognised the importance of lawyers’ contribution to marketing and BD, only sophisticated firms really provided marketing and BD skills training for lawyers (71% of sophisticated firms). Fewer than a third of under-developed firms invested in marketing and BD skills training for their professionals (29%).

Takeaway

In the current marketplace, technical skills and experience alone are insufficient for lasting success – fee-earners working in professional services must also be credible, persuasive and effective business developers. If your team struggles, invest in training.

6. Have a person or group dedicated to marketing and BD

Sophisticated firms were much more likely to have a person or group dedicated to marketing and BD than other firms. 86% of respondents from sophisticated firms said they had someone dedicated to marketing and BD, compared with only 31% of under-developed firms.

Takeaway

While business development is everybody’s business, it can certainly increase the impact if you have an experienced, full time resource supporting your lawyers.

7. Communicate financial performance results to lawyers and staff

And finally, sophisticated firms were more likely to communicate financial performance results to lawyers and staff (69% of sophisticated firms, compared with 38% of under-developed firms).

Takeaway

Sharing results helps lawyers and staff understand the connection between their individual efforts and the overall goals of the firm.

Take heart: much of this can be fixed from the inside out!

As ALPMA President, Andrew Barnes noted, “The fact that most barriers to improved effectiveness are internal (rather than external) is actually good news.  It means that the power to change lies directly within the control of most law firms – provided they choose to make this a strategic priority for the firm and invest the required resources accordingly.”

Quick marketing and BD success checklist

• Plan it and communicate it
• Measure more than just billings, and keep individual lawyers accountable
• Invest in your people (lawyers, and marketing and BD resources)
• Share and communicate successes with your teams so they understand and feel part of “the big picture”.

To get your copy of the complete Taking the pulse research report click here.

If you would like to speak to one of our consultants, please get in touch.