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IBA Law Firm Management Day - Business development for law firms by Paola Parigi

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International Bar Association IBA Law Firm Management Day, Rome 4/11/2014

Law Firm Business Development is not an art is a tough job - Presentation by Paola Parigi (Partners at Paris&Bold, senior BD consultant) www.parisandbold.com
www.parisandbold.it

Increasing the impact of business development for law firms is possible only if lawyers start to trust their BD staff and consultants.

BD is a tough job that rewards the Firm by increasing quality standards, visibility, reputation.

Published in: Marketing
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IBA Law Firm Management Day - Business development for law firms by Paola Parigi

  1. 1. Law Firm Management Day Rome, 4 November 2014 International Bar Association
  2. 2. paola.parigi@parisandbold.co m Client development is a job Many successful lawyers know this already as “marketing” It is an essential part of what they do • Quality of the delivering • Taking care of relations • ...even outfits are involved!
  3. 3. Lawyers & Marketing
  4. 4. paola.parigi@parisandbold.co m BD is often underestimate by lawyers • Firm boards rarely involve BD managers in meetings • Strategic decisions are very often made by partners without any influence by BD managers • The role of the BD person itself is not recognized (not even with the same job description), nor legitimate (clients barely get to know them) How could a BD tell to a partner that maybe he/she is outdated?
  5. 5. «I take decisions, you do the (dirty) job!»
  6. 6. paola.parigi@parisandbold.co m Client/Business development is all about few tips • Quality (of the work) • Reputation (of the firm and the lawyers) • Transactional relations (with clients) • Knowledge of the clients • Knowledge of the market (business intelligence) • Knowledge of the tools (analysis, planning and reporting techniques)
  7. 7. paola.parigi@parisandbold.co m Reputation is Quality shared • Social network influence is nowaday crucial • Media are not that independent • The “look” is important only if it correspond to the reputation «a good brochure is not a value, in a world full of good brochures, but a good web reputation is»
  8. 8. paola.parigi@parisandbold.co m Lawyers do not like planning • They often base their decision on: • money • common sense • firm “power games” «Sometimes they loose the big picture. Very often they run alone»
  9. 9. paola.parigi@parisandbold.co m Clients trust lawyers that: • are “in” their market • do an outstanding job • are relyable • are available • keep communication alive • are worth their fees
  10. 10. paola.parigi@parisandbold.co m Conclusion • Client development is not an “art”, is a tough job • BD persons should evolve, be creative and keep updated to new techniques and market changes • Lawyers should stick to the quality of their job but need to appreciate help in strategic thinking and planning
  11. 11. Thank you for your attention paola.parigi@parisandbold.com

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