Why would a content marketing strategy work for our law firm?
Clients have many technically gifted lawyers to choose from. If your team can demonstrate that it has insights into the challenges that attract the interest of business executives then you will always be in a more powerful position than competitors who lack such content.
Banks and corporates both know the value of good content, which is why their own marketing strategies are so dependent on it and why they drive their client engagement through such tailored messaging especially when marketing returns are under such scrutiny.
As one partner at a Magic Circle firm* puts it: “It is no longer sufficient to do a deal and then walk away and wait for the next instruction. You need to be able to think outside your narrow technical area and have a sensible discussion with the client on their business challenges. For City lawyers this is a big change.”
We don’t have the budgets or resources of a large City firm so how can we get involved in thought leadership campaigns?
Content marketing, of which thought leadership is a part, can work for any size of firm provided it is tied to their business development goals. A key step is to make sure that the content you are producing–which can range from blogs/e-newsletters to more expensive survey-based reports–is actually aligned to a strategy to win more business. The budget only dictates the type of campaign you should undertake but not the need for such a strategy.
Partners are very busy here so finding time to produce content is difficult. How can we convince partners of the value of your services?
A strong team of writers that is used to working with law firm partners can get the best results with the smallest imposition on fee-earner time. Our job is to develop original content-driven initiatives that drive bottom line growth by leaving fee earners to focus on billable hours and by coordinating BD and PR teams to get a better return on investment from marketing. What are your returns from blog posts, sponsoring and speaking at events, or organising webinars? Our value will be to change the way you approach such activities to produce better returns against a list of KPIs agreed with you.
How do you charge for your services?
Like law firms, we can agree fixed rates for a project but we also offer an hourly or day rate depending on the services required.
How does the process work?
Once we have had an initial meeting to discuss your needs, one of Lextel’s partners will be appointed as an account manager and will then discuss your needs and assemble the necessary team to develop a content strategy and handle your campaign. The partner will act as hands-on manager of the project and will report to you on KPIs.
Our partners are well regarded but can’t understand why the firm ranks so poorly in directories. Can you assist with this?
Our partners have all been directory editors and two of them – Nigel Savage and Mike Nash – work exclusively on directory submissions having worked as editors of the Legal 500 in the US and the Legal 500 EMEA. While we cannot guarantee a better ranking, our partners have worked with over 20 firms from the US, Europe and Asia-Pacific to provide input on how to achieve maximum impact with the research teams of different directories (our associate firm Savage Communications was formed six years ago). We will implement a firm-wide system to make compiling submissions less painful, more productive and more cost-efficient.