Sustaining the competitive consumer legal market
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Presented at Ark Group Growth Conference - London June 2017 :- • Examining law firm sustainability (of staff, clients and marketing) • The importance of brand purpose and clarity • The impact of new generations in the workplace • ‘They may forget what you said, but never how you made them feel’ • Act professional, talk friendly
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Sustaining the competitive consumer legal market
- 1. But of what? Law Firm Sustainability Staff, Clients & Marketing
- 3. Who’s on your bus? Jim Collins, “Good to Great”
- 4. Our aim is to do business with people who believe what we believe Simon Sinek work
- 5. At ???? we are :- • Dynamic • Resourceful • Compassionate • Collaborative Mission Statement We exist to :- • Maintain the highest standards of quality, client care and professional expertise; • Be recognised as experts in our fields; • Be profitable, efficient and effective; • Satisfy the expectations of our partners and staff; • Provide value for money to our clients; • Contribute to our communities. Our Mission • To provide people with easier access to world class legal services Our Values • Do it Right • Work Well with Others • Take the Lead Our Vision & Values • Looking after our clients’ interests as though they are our own • Being straightforward, open and honest • Putting the firm’s interests ahead of individual agendas • Treating everyone with respect, fairness and courtesy • Being accountable for our clients and colleagues Your vision. Is it all just blah, blah, blah?
- 6. Our mantras
- 7. “millennials" in the workplace
- 9. Staff Turnover & Bradford Factor Firm No. of Staff Staff Turnover Bradford Factor BF Range Firm A 135 11.80% 281 0 - 23,660 Firm B 76 19.10% Firm C 223 17.60% 79 0 - 1,344 Firm D 61 27.80% 114 0 - 1,472 Firm E 157 17% 114 0 - 2,650
- 12. Your brand is what….
- 13. Visible Logo Emails Social Media Letterhead Website Business cards How do you dress in & out of the office Sponsorship Office signage Paintwork
- 14. Invisible The way you communicate (both internally and externally) How do you answer the phone? Are your bills accurate? What does your office & mobile voicemail say? How do clients talk about you, behind your back?
- 15. know, like, trust, believe & have confidence in you They might buy from you if they
- 17. Sustained investment in marketing is required Firm No. of Partners Marketing Budget Firm 16 20 3.4% Firm 17 21 2.0% Firm 18 22 1.6% Firm 19 23 1.0% Firm 20 24 1.9% Firm 21 30 2.8% Firm 22 31 3.0% Firm 23 31 0.4% Firm 24 33 3.0% Firm 25 35 2.5% Firm 26 35 3.0% Firm 27 37 1.0% Firm 28 38 2.0% Firm 29 38 1.6% Firm 30 53 2.1% Firm 31 58 1.0% Average 2.1%
- 18. Raw matter data
- 20. Marketing Category Spend Matter Cost/Matte r SEO £8,400 177 £47.46 PPC £17,430 28 £622.50 Website £17,865 257 £69.51 Returning Client £21,986 1,771 £12.41 Referral £401,017 3,531 £113.57
- 26. Be different, not better!
- 27. No questions? Good! See you for the panel!
Editor's Notes
- Replace with a photo of our green bin with the dogs in the background Make a joke about me knowing very little about sustainability!
- Leaders of great companies ask: First Who, Then What? - http://www.kinesisinc.com/first-who-then-what/
- Think about the people in your firm over the last 40 years or even the last 10. Did the people who caused ‘problems’ believe what you believe? How do you test for that in your hiring process, we use our mantras We let staff/peers interview them as well and it’s prevented me hiring muppets on more than one occasion Talk about our ‘muppet’ test
- How do you ‘stand out’ in a bland market place Look at the Dilbert Mission statement generator ‘live’ in the room
- Tell the story of Dr Paul Robinson from Manchester Met Uni at the LawNet conference Make some cards, ask people to hold up which one they are Or get people to stand up and line up in broad age and step left or right for Baby Boomers and Millennials
- Tell my story about killing the conversation on Slack. How we use ‘channels’ and you HAVE to give your staff a preferred channel to use else they will find your own. Ensure everything is logged, tell them it’s logged (they will forget). Talk about how we use the “Get Stuffed” sign in our office
- What is ‘normal’ in a business of your size? Is there benchmark for your sector?
- Ask everyone which they think is the most important Ask Andy Welch about “Lucy” going on a date with someone new and coming back and saying “I trusted him dad, but I didn’t like him”!
- Part set of data from a survey of law firm’s marketing budgets as a percentage of turnover