By John W. Olmstead, MBA, Ph.D, CMC
For the past six weeks I have been discussing the characteristics of successful law firms and introduced the following basic building blocks that successful firms typically have in place:
- Partner Relations
- Leadership
- Firm Management
- Partner Compensation
- Planning
- Client Service
- Marketing
Partner relations, leadership, management, partner compensation, planning, and client service blocks have been discussed.
The seventh and final basic building block is
marketing. Successful firms have an effective marketing infrastructure and program in place.
Gone are the days when attorneys simply practiced law. Today, they face increased competition, shrinking demand for services and increasing supply of professional talent, availability of service substitutes, and marketing of professional services. Marketing can no longer be ignored if small law practices are to survive in the future.
Based upon our observations working with client law firms over the past twenty six years we have concluded that marketing is poorly understood and ineffectively implemented in many small law firms. In addition, the following obstacles are at play: