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February 23, 2008

BTI Research Reveals Shift to BD and Client Service Priorities

BTI Research published their annual benchmark survey of law firm marketing activities last month.  You'll have to buy the survey to get all of the details, but here are some trends illustrated by the data:

  •   The AmLaw Second Hundred (firms 101 to 200) is catching up with the AmLaw 100 in marketing spending per attorney. 
  • Dollars dedicated  to salaries climbed 22% on a per FTE basis at the largest law firms.
  • Marketing spending per attorney increased by 20%
  • Marketing staffs are expanding significantly (30%).  Growth primarily in business development and client service areas.
  • CMO tenure declined to an average of 3.6 years.  CMOs are increasingly lured away by more lucrative offers at other firms.
  • While firm leaders say they are open to hiring CMOs with experience outside of the legal world, 61% of top marketers are hired from other law firms.
  • Client Surveys and Client Teams are top priorities for law firm marketers in 2008.  Both practices are now mainstream - with the vast majority of firms engaging in them.

Raindancing Expert Audio Series

This week I met Cole Silver, the brains behind the Raindancing Expert Audio Series.  Cole has interviewed dozens of brilliant authors, consultants and experts in law practice management and marketing.  The 30 minute conversations are available on a subscription basis, for download or streaming audio from his website, findcareersuccess.com.   Interviews include conversations with Harry Beckwith, Gerry Riskin, Larry Bodine, Sally Schmidt, Stephanie West Allen, and many others. 

Worth $27 a month?  I think so.

ABA Top 100 Discriminates Against Non-Lawyers?

Aba20cover The December 2007 cover story on the ABA Journal featured the "Blawg 100" - the top blawgs written by attorneys, ranging from our favorite law practice management blogs to "gossip, rumor and innuendo". 

Some legal 'blawgers', however, noticed that many insightful blawgs were omitted from the list not because of their content, but because they were not authored by attorneys.  Harvard blogger Amy Campbell and Edge Group Founder Patrick McKenna both commented on the obvious omissions.  Kevin O'Keefe summarized a number of blogger's not-so-positive reactions to the list here.

I've been a member of the ABA for seven years, and a contributor to the ABA's Law Practice Management Magazine for the past five years.   I hope that next year they consider expanding their review to at least paying members of their association. 

Does anyone else find this odd? 

InnovAction Awards Nominations Open

Innovactionbug Nominations for the 2008 InnovAction Awards are now open until June 2, 2008. 

The InnovAction Awards is a worldwide search for lawyers, law firms, and other deliverers of legal services who are currently engaged in some extraordinarily innovative efforts. The goal is to demonstrate to the legal community what can be created when passionate professionals, with big ideas and strong convictions, are determined to make a difference. Each year, the College of Law Practice Management presents the coveted InnovAction Awards to those unsung heroes and rising stars within the legal profession who dare to think differently and succeed by doing so.

If you know of a law firm that is truly innovative, I encourage you to nominate them for a "Nova".  We need to celebrate and publicize innovation in our profession in order to encourage more firms to try new things.

For more information:

Press Release

Entry Form

InnovAction Web Site

2007 Winners

 

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