Positioning your firm to sustain and succeed in an ever-changing legal market.

You may keep shouting in mediums about your Expertise and years of Experience, but who is listening?

In today's legal world, these attributes are no longer enough for a law firm to sustain and grow as every law firm has this same thing to say. 

Every law firm boasts of a small or large panel of experts with years of experience, but if everyone has this, how clients make decision of their choice? What are clients looking for?

Clients are looking for firms that can act as partners in their businesses, whatever that business might be. They need a firm that can respond quickly and nimbly to their needs, particularly as those needs change. Clients are looking for diversity in capabilities, solutions that are creative and cost effective, firms resources that give them the confidence to operate with absolute certainty and above all it all should fall into the cost effective bracket.

Being a nimble service provider will likely require that your firm make itself familiar with more than one area of the law. Having a specialty is still important for positioning your firm in the marketplace. But showing that you can add another area of expertise when a client needs it can position your firm to win and keep a larger client’s business. In an effort to help keep expenses down, a client would rather deal with one firm than several.

If your firm has ambitions to earn work from large clients, you have to do more to set yourself apart. You have to be able to provide the kind of services these organizations need. And you have to be able to prove your value. These days, large clients are under more and more pressure to keep their own costs down. And they need legal partners that can help them do just that.

Traditional client service and competition models are no longer viable. To remain successful, firms have to cultivate a deeper understanding of their client needs and develop the range of capabilities the clients need. 

What if your firm can’t provide the value clients demand?

Your firm’s track record might earn it a lucrative, big-name client. But if that client finds out that you can’t provide the range and quality of services it needs at a price it’s willing and able to pay, that client will move on, and fast. They’ll find another firm or perhaps tap an alternative legal service provider (ALSP). Some larger firms and businesses might opt to keep the work in-house.

Your firm will have lost a big opportunity. And in today’s competitive market, that loss could cost you additional business in the future.

How can your firm stay competitive?

As we noted earlier, the practice of law has become a buyer’s market. Firms that know what their clients need, and know what their competitors can provide, can position themselves as the partners that clients require. If your firm can provide that kind of partnership, it will position itself to take advantage of new opportunities that the changing legal marketplace offers.

Last word - Your firm doesn’t have to be a mega firm to attract big client business. As a part of the World Law Alliance, your firm has all the power and beyond the big law capability. To join World Law Alliance, you can contact the World Law Alliance team . worldlawalliance.com