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Biggest Challenges for Law Firm Marketers
- Business Transformation
- 3 Mins
Marketing plays a more pivotal role today than ever before in driving success for law firms. But in a very conservative industry, an effective approach to fostering growth must be thoughtful and strategic.
While there are numerous challenges that law firm marketing teams experience regularly, there are three consistent trends impacting large firms and small firms alike.
Challenge #1: Many firms don’t have capacity to focus on brand strategy despite it being critical in highlighting their expertise and authority on important matters.
By maintaining a consistent and compelling online and offline presence, building brand recognition and awareness, and establishing themselves as an industry authority, firms can elevate their visibility and distinguish themselves in a crowded marketplace. This is obvious.
But brand strategy is more than just adherence to brand guidelines and value propositions. According to Adobe, over 80% of consumers said they need to trust a brand to consider purchasing or partnering. And as numerous marketing channels continue to be developed in the marketplace, it is more important that brands build trust so that your purpose and differentiators are consistent.
In a recent McKinsey report, it was found “strong brands consistently outperform the market. The world’s 40 strongest brands yielded almost twice the total return to shareholders (TRS) of an investment in a Morgan Stanley Capital International (MSCI) World index certificate over the course of the 20-year period ending in 2019.”
And while law firms might function very differently from leading B2C brands, there are a lot of brand techniques that they can leverage – one of those being the concept of storytelling.
Marketing legend, David Ogilvy, once said “the more you tell, the more you will sell”. Law firms are particularly reliant on referrals, and referrals are dependent on successful client interaction and reputable brand reputation. When the story you are telling is consistent across all client touchpoints – your reach becomes significantly more impactful.
Key Takeaway: Don’t leave your brand in “set-it-and-forget-it mode” and view it as a living, breathing story that requires an active approach.
Challenge #2: Marketing Teams are being asked to do more with less.
The volume of marketing-related requests in the legal sector is at an all-time high, which has many law firm marketing teams feeling as if they are at workload capacity.
By outsourcing marketing tasks to legal marketing specialists, law firms gain access to a team of experienced professionals with deep industry knowledge and expertise. These specialists understand the unique nuances of legal marketing, allowing them to develop tailored strategies that resonate with target audiences and drive results.
Tasks, such as intranet management, press releases, thought leadership campaigns, and event management, can be time-consuming and repetitive, so having a group of marketing specialists working alongside or in lieu of highly skilled/paid senior marketers saves a firm both time and money. Law firms can then redirect their time, energy, and resources to core competencies, freeing up staff to focus on client-focused initiatives, brand strategy, strategic initiatives, and enhancing overall productivity.
Outsourcing marketing functions also allows law firms to access top-tier talent and cutting-edge technology without the financial burden associated with hiring and managing a full-time staff and provides law firms with the flexibility to scale their marketing efforts in response to changing business needs and market conditions. Whether launching a new practice area, expanding into new markets, or adjusting to fluctuations in demand, outsourcing allows firms to adapt quickly and efficiently without the constraints of an in-house team. Outsourced providers can ramp up or down resources as needed, ensuring optimal performance and cost-effectiveness.
Key Takeaway: Embracing outsourcing as a strategic imperative empowers firms to expand their reach and solidify their position as industry leaders. By tapping into specialised expertise, optimising resources, accessing cutting-edge technology, and scaling operations law firms can position themselves for success in today's dynamic business landscape.
Challenge #3: Marketing Teams are lacking project management and marketing operations support.
Project management is a critical component when executing successful marketing initiatives. When strong project management oversight is missing, unclear objectives, missed deadlines, work overload, poorly delivered projects, and projects surpassing budget expectations rear their ugly head.
A marketing project manager's role is fluid and requires attention to detail paired with agility. Successful project managers are not only planners who deliver according to timelines and stakeholder expectations. They are project advocates, researchers, problem solvers, and communicators. They are the jack of all trades who can take complexity and break it down into simplicity.
Project managers bring a fresh perspective and objective insights to the table, offering strategic guidance and actionable recommendations based on industry best practices and market trends. These professionals can conduct comprehensive audits, identify areas for improvement within projects, and develop customized strategies aligned with the firm's goals and objectives. By leveraging strong project management skills, law firms can stay ahead of the curve and execute upon campaigns and initiatives more effectively.
Key Takeaway: While hiring specialists for your marketing team (ie: designers, developers, content creators), don’t overlook the power of a strong project manager and marketing operations team to drive efficiency and productivity.
Conclusion
While law firms continue to navigate the ever-changing landscape of the legal marketplace, it is imperative for them to put a greater emphasis on brand strategy, strategic resourcing and project management. With the combined power of these three areas, the effectiveness of their brand’s impact, reputation, and overall recognition is increased exponentially.
The contents of this article are intended to convey general information only and not to provide legal advice or opinions.