Embed Size (px)
Citation preview
got competitive intelligence?best practices, tools, and techniques for the savvy legal marketer
Presented by:Monica AlmendarezBusiness Development ManagerWolfBlock [email protected]
on the agenda…
What is CI?Uses of CI in Law Firms
Client IntelligenceFirm IntelligenceCompetitor Intelligence
Law Firm CI Tools and ExamplesStaffing CI Projects in Law Firms
What is CI?
Actionable Insightsvia
Research and Analysis
Uses of CI in Law Firms
CLIENTINTELLIGENCE
COMPETITORINTELLIGENCE
FIRMINTELLIGENCE
Law Firm CI Tools and Examples
SWOT AnalysisBlindspot AnalysisMarket Share AnalysisGeographical AnalysisWar Games Scenarios
Example IP Firm – Davoll Brown
FIRST YEAR SALARY$125,000
LATERAL PARTNER MOVES (PAST 5 YEARS)28 To Firm59 From Firm
ATTORNEY DIVERSITY20 Women (5 partners)37 Minority (12 partners)
REP CLIENT INDUSTRIESBiotechnologyChemicalsSoftwareTechnology
AVG BILLING RATESPartners $250 – 500Associates $175 – 375
TOTAL EMPLOYEES87 Partners25 Associates11 Paralegals36 Admin Staff120 Secretaries
SERVICESPatentTrademarkCopyrightEntertainmentIP Litigation
ATTORNEY LOCATIONS22 Delaware72 Philadelphia18 Princeton NJ
SWOT Analysis in Law Firms
Target your competitors’ weaknesses.
SWOT Example – Davoll Brown
Threats•Several Recent Key Partner Departures•Regulatory changes = less litigation•Equity partner track –promotion isn’t regulated well.
Opportunities•Several clients located in Research Triangle – open office?•Grow Med Devices and Pharma Clients – Natural tie-in for Biotech experience•Grow admin professionals and cut the secretary ratio
Weaknesses•Small Firm•Regional – only handles clients’ regional work•Partner heavy •Leadership?
Strengths•Strong IP Boutique Firm•IP Litigation (esp. Patent)•Patent Prosecution•Depth in Biotech Client Industry (esp. Chemical)
Blindspot Analysis in Law Firms
Don't make assumptions about the marketplace.
Blindspot Analysis Example – DavollBrownASSUMPTIONS
Our top 25 clients generate more than 50% of our revenue (most are operating at highly realized rates).Our competition is a handful of international AmLaw 100 firms.Our clients perceive us as thought leaders in the area of patent law.
REALITIESMost of our revenue is generated from a large number of smaller matters combined (all less than $5,000).Our competitors are regional. Our clients only use us for local matters.Our clients view us as good local counsel for smaller matters – they wouldn’t give us “bet the business” work.
Market Share Analysis in Law Firms
Know what other firms are serving your clients.
Geographical Analysis in Law Firms
Make strategic geographic moves.
War Game Scenarios in Law Firms
Identify and avert the biggest threats to your firm.
Staffing CI Projects in Law Firms
Requires a mixture of:Marketing ProfessionalsResearch ProfessionalsTechnology/Knowledge Management ProfessionalsOther Key Departments – as the project demands
Marketing Professionals
ExpressiveStrategic ThinkingFuture Oriented
ABILITY TO SELL IDEAS
Research Professionals
AnalyticalSkilled at Processing Data/Information Information Oriented
ABILITY TO BACK UP IDEAS WITH FACT
Technology/KM Professionals
Logical & MethodicalSkilled at Finding Internal KnowledgeFact Oriented
ABILITY TO DEVELOP PORTALS FOR INFORMATION SHARING
Questions? Comments?
With future questions and comments, please feel free to contact:
Monica [email protected]
215-977-2779
