2007 Leigh Dance

[email protected] – March 2007

The reproduction, modification, or distribution by whatever means of the whole or any part of this presentation

(including, without limitation, all images, logos, graphs, charts and quotes) is

strictly forbidden without specific written permission from the author.

2007 Leigh Dance

Legal Services Buying Trends: How to Leverage Them Into Wins For Your Firm

Leigh Dance 22 March 2007

ELD International, Inc.


[email protected] – March [email protected] – Feb 2007

[email protected] – March [email protected] – Feb 2007


TREND: Regulatory Scrutiny and the Risks of a High Profile

Clients face… Increased pressure to ensure complianceChallenges to help the company keep its

promises and also achieve business goalsNeed to reduce threats, manage crisesDangerous stakes: unforgiving

enforcement and aggressive media


TREND: Regulatory Scrutiny and the Risks of a High Profile

Clients face…Huge increase in reporting responsibilitiesNeed to understand changing laws and how they

are being enforced worldwideObligation to find and solve problems to surviveGet to the bottom of a ‘situation’ fastAvoid ‘creep’ of regulatory inquiries


OPPORTUNITY: Regulatory Scrutiny and the Risks of a High Profile

Your marketing should…Emphasize firm name, reputation, firm integrityCommunicate empathy – don’t scare the horsesUnderstand client compliance demands and

provide component of compliance support Communicate specific talent in geographies,

sectors and practice nichesAssist in identifying and monitoring threats


OPPORTUNITY: Regulatory Scrutiny and the Risks of a High ProfileYour marketing should…

Present information consistent with compliance reporting needs

Provide legal and regulatory info and connect dots to the client’s compliance pressure points

Demonstrate fast response, solid project managementProvide ‘dealroom’ context for crisis managementNot gloat-- show you are on their side


TREND: Overload of marketing and pitches to largest global companies

Why are large global companies today’s target?Numerous multi-jurisdictional transactionsNeed for support in more than one geographyHigh profile, sophisticated, complex problemsPrecisely the work the aspirationally ‘global’ firms

want and need to justify investments


TREND: Overload of marketing and pitches to largest global companiesClients ……receive dozens too many event invitations…and hundreds too many newsletters/client

alerts: few specific to their needs or sector…will rarely respond without follow up…always want more time with peers (prefer

to keep outside lawyers out)


OPPORTUNITY: Overload of marketing + pitches to largest global companies

Your firm should…Take very good care of your current global

corporate clients – deepen/broaden your contactsExecute carefully targeted and highly

differentiated marketing initiativesBring corporate counsel together with each other,

not only to hear youGive them info to make their work easier


OPPORTUNITY: Overload of marketing + pitches to largest global companies

Your firm should… Present information in tables and formats easy

to digestAdapt your communications to their systemsSpotlight personal professional relationships –

they countLook for windows: circumstances change

constantly inside large globals


TREND: Procurement managers are invading corporate law departmentsCorporate counsel face…Arrival of procurement since all other major

corporate expense areas have been addressedConstant demand to prove value, yet little

reward for doing soA procurement manager’s tendency to look at

legal service purchase like buying widgets


TREND: Procurement managers are invading corporate law departmentsCorporate counsel face…Procurement managers tactic to utilize

competition among firms to reduce costsDemand for measurable proof of value,

reporting that demonstrates worth: transparency

Pressure for convergence squared


OPPORTUNITY: Procurement mgrs are invading corporate law departmentsYour marketing and business develoment should…Prepare to be one step ahead: measure and

prove your value proactivelyImprove transparency in budgets and estimates

and allocation of resourcesDemonstrate and promote efficienciesOffer value-added services free


OPPORTUNITY: Procurement mgrs are invading law departments

Your marketing messages should emphasize : The needs to reduce risk trumps cost

- low-risk choice,- better coverage of legal services needs, - improved corporate governance

Firms must be able to produce sophisticated client information and sophisticated proposals


TREND: In-house counsel tiring of client competitions, proposal processesClients face…Time consuming process, difficult to control Creation of tensions and disincentives in

future law firm relationshipsInefficient– prefer to just get the work doneErosion of power over purchasing, and

independence of choice


OPPORTUNITY: In-house counsel tiring of client competitions, proposal processesYour marketing should…Identify and market differently the practices

that tend to fall outside scope of panelsBuild solid relationships with client to pitch

informally in advance of RFPContinue evaluating cost/benefit of

participating in RFPs, RFTs


Legal Services Buying Trends: How to Leverage Them Into Wins For Your Firm

E. Leigh Dance 22 March 2007


Documents

2007 Leigh Dance