Law firm marketing has changed from the days when individual rainmakers used personal networks and charisma to bring in new business. Today’s marketing is turbocharged by sophisticated new business intelligence technology — uber-search tools that can generate detailed profiles of the legal work available — from a single company, an entire industry, a competing law firm or an individual lawyer. These competitive intelligence tools can help firms and law departments:
- Prospect for new clients or firms;
- Profile current clients to cross-sell them and protect them from competing law firms;
- Target industries;
- Headhunt lateral hires;
- See trends in litigation by company, practice area and law firm;
- Profile competing law firms and getting their list of clients;
- Determine “client share” — how much of its business a company is sending your firm;
- Profile your own firm or law department.
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