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742advisors

742advisors742advisors742advisors
HOME
WHO WE ARE
WHY 742?
WHAT WE DO
BLOG
CASE STUDIES
TESTIMONIALS
CONTACT
More
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trees in the forest, seeing the forest and the trees

WHAT WE DO

 

Issue 1:  The sales cycle has changed dramatically, with more digital-savvy clients- and experience isn't collected or added to bios or practice pages in a streamlined process. 


According to Gartner, legal and other B2B buyers are 57% of the way through the buying cycle before they contact a prospective attorney. Further, roughly 87% of web traffic is to attorney bios. There is a significant cost of doing nothing, as your firm can be out of the "game" before you know you're in it! Let's face it- no potential client is going to call and ask if you have expertise that isn't listed on your site. 


Issue 2: Attorneys and staff spend hours each week on pitches- driving down realization, losing money, draining staff resources, and increasing turnover. (3.5 years average CMO)


  • On average, attorneys spend 2-4 hours per pitch. For example, if your firm has 100 pitches per year and a rate of $850 per hour, that could equate to $255,000 per year. For staff, the time spent on pitches and RFP’s can average 8-10 hours- with 100 pitches per year at $250 an hour, this could be $225,000 per year. That’s over $450K annually in revenue leakage (to say nothing about pitch customization!)


Issue 3: Immeasurable time, money, and strategic insights are lost because of siloed information.


  • Further opportunities are lost because important information is not being shared between groups (billing/intake, marketing, HR, etc.)
  • Without tracking, it is difficult to identify practice correlations and new/existing clients primed for your services. 


THE SOLUTION IS SIMPLE:


  • Audit your marketing technology stack and overall spend to maximize output.
  • Improve your digital and online presence to make it easy for clients to find you. 
  • Glean insights at the data “goalposts” of matter intake/conflicts, closing, and invoicing. 
  • Optimize your internal pitch and research process so staff can spend time on customization and value-add (as opposed to recreating the wheel). 
  • Be more strategic about how the firm presents itself in pitches (team creation, diversity, practicing for presentations, discovery calls vs. selling).


The key here is to do all of the above within the “cultural glasses” of the firm so the changes are sticky and it furthers innovation and future evolution.


ADDITIONAL/DOVETAIL SERVICES 


  • Legal Marketing "Pain Point" Audits and Assessments (Departmental/Structural, Pitch/Proposal/RFP, Go-To-Market (GTM) Strategy)
  • Strategic Planning (Firm/Practice/Issue/Industry/Attorney Marketing)
  • Process and Procedure Development and Analysis (Marketing Team/Client-Facing Pitch Team/Internal Pitch Function/GTM)
  • Internal/Marketing Team Training (Law 101, Train the Trainer)
  • Pitch and RFP Overflow/Project/Temporary Work
  • Market Analysis and Competitive Intelligence

Let's Connect!

As a former Chief Marketing Officer for an AmLaw200 firm (and senior leader for various AmLaw100/Big 4 firms), I bring value in helping to connect dots throughout the firm and building avenues of communication that increase collaboration and drive revenue. Let's schedule a time to discuss your situation! 

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