2018 LC Marketing Bus Dev Survey Final

2018
LAW FIRM BUSINESS

DEVELOPMENT AND
MARKETING SURVEY
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SURVEY METHODOLOGY
SURVEY STATS METHODOLOGY
114 39% 80% Online survey with sponsors identified. Invitations sent to US
and UK marketing and business development contacts on the
Marketing/ of participants of participants
Am Law 200, Global 100, NLJ 500 and shared on closed social
business from with 10 or
media groups.
development Am Law 200 more years of
professional firms legal marketing
participants experience
FIELDED
37 February 27 — April 9, 2018

%
C-suite Directors
role QUALIFYING CRITERIA
breakdown
6%
S and UK the AmLaw

U he firm must have
T
14%
n n
Managers
5.
4 200, Global 100 and marketing/business

NLJ 500 firms. development functions.
1.7% 1.7%
Partners Consultants
Q3
DOES YOUR FIRM HAVE MARKETING/BUSINESS DEVELOPMENT FUNCTIONS?
(Select one response)
Yes, they are combined 77% 1% Yes, Marketing

in one function FREQUENCY: FREQUENCY:
reports to Business
88 1 Development
total of
Yes, they are separate 7% 114 people 3% Yes, Business
functions asked Development reports
FREQUENCY: FREQUENCY:
8 3 to Marketing
Yes, they are separate 10% 3% No.

functions, but we often
share resources 11 3
at.alm.com/legalcompass | Legal Compass®

Q4-A
DOES YOUR FIRM HAVE A FORMAL WRITTEN...
FIRM WIDE STRATEGIC PLAN? PRACTICE/INDUSTRY GROUP STRATEGIC PLAN?
42% 23% 55% 12%

Yes, it is 2 years Yes, it is older Yes, it is 2 years Yes, it is older
old or less than 2 years old or less than 2 years
FREQUENCY: FREQUENCY: FREQUENCY: FREQUENCY:
47 25 60 13
total of total of
111 people 110 people
asked asked
33% 2% 34% 0%
No formal plan Don’t know No formal plan Don’t know
37 2 37 0

Q4-B
DOES YOUR FIRM HAVE A FORMAL WRITTEN...
CLIENT TEAM STRATEGIC PLAN?
37% 9%
Yes, it is 2 years Yes, it is older
old or less than 2 years
41 10
total of
110 people
asked
52% 2%
No formal plan Don’t know
57 2

Q5-A
DID THE MARKETING/BUSINESS DEVELOPMENT TEAM HAVE A ROLE IN
CREATING ANY OF THESE STRATEGIC PLANS...
FIRM WIDE STRATEGIC PLAN? PRACTICE/INDUSTRY GROUP STRATEGIC PLAN?
86% 14% 0% 96% 4% 0%

Yes No Don’t know Yes No Don’t know
FREQUENCY: FREQUENCY: FREQUENCY: FREQUENCY: FREQUENCY: FREQUENCY:
55 9 0 69 3 0
total of total of
64 people 72 people
asked asked

Q5-B
DID THE MARKETING/BUSINESS DEVELOPMENT TEAM HAVE A ROLE IN
CREATING ANY OF THESE STRATEGIC PLANS...
CLIENT TEAM STRATEGIC PLAN?
90% 10% 0%
Yes No Don’t know
FREQUENCY: FREQUENCY: FREQUENCY:
46 5 0
total of
51 people
asked

Q6-A
HOW EFFECTIVE ARE EACH OF THE FOLLOWING FOR GENERATING NEW REVENUE...
SELLING MORE OF THE SAME SERVICES SELLING NEW SERVICES TO EXISTING CLIENTS
TO EXISTING CLIENTS? (CROSS-SELLING)?
50% 40% 8% 50% 42% 6%

Very effective Somewhat Neither Very effective Somewhat Neither
effective effective nor effective effective nor
ineffective ineffective
55 FREQUENCY: 55 FREQUENCY:
9 7
total of total of
2% 110 people 0% 2% 110 people 0%
asked asked
Somewhat Very Somewhat Very
ineffective ineffective ineffective ineffective
2 0 2 0

Q6-B
RE-ENGAGING WITH FORMER CLIENTS? NEW BUSINESS THROUGH LATERAL HIRING?
20% 54% 20% 24% 52% 12%

22 13
total of total of
5% 110 people 1% 10% 110 people 3%
asked asked
6 1 11 3

Q6-C
NEW BUSINESS THROUGH MERGERS
OR ACQUISITIONS? EXPANSION INTO A NEW LOCATION?
17% 42% 34% 15% 38% 36%

36 39
total of total of
4% 106 people 3% 6% 107 people 5%
asked asked
4 3 6 5

Q7
WITHIN YOUR FIRM, WHO IS PRIMARILY RESPONSIBLE FOR OVERSEEING AND
EXECUTING FIRM PRICING AND PRACTICE MANAGEMENT? (Select one response)
2% 5% 5% 26%
Chief Pricing Chief Practice Pricing Others
Officer Officer Manager (Specify)
FREQUENCY: FREQUENCY: total of FREQUENCY: FREQUENCY:

2 6 111 people 6 29
asked
Others (specify):
20% 41% AFA Committe, CFO

COO, CFO, Senior
Propsal Manager work-
A combination of
various department
directors/chiefs (no
Practice Group
Directors
Finance Dept &
ing collaboratively formal pricing role) Attorney Committee
Director of Attorneys/ CEO Division Chairs & COO Director of Client Value
Management Commit- COO/CFO Combinations of all
Pricing Attorney tee, COO, CFO, CBDO CFO & CMO collectively of the above plus
marketing depending
Committees Combination Managing Partner and
on pitch
FREQUENCY: CMO marketing team
Director of Practice Chief Strategy Officer
COO
22 FREQUENCY: Executive Committee
Managment, formerly Deputy COO
#2 in my mktg group NA
46 Business Managers
CFO

Q8
HOW IS PRICING DETERMINED? (Select one response)
The Marketing/Business Development and

pricing professionals: 35% The lawyers set pricing
frequently collaborate on 34% FREQUENCY:

39
client development
FREQUENCY:
pitches and proposals total of
38
111 people 11% Other (Specify):
2% asked FREQUENCY:
operate independent of
each other on pitches
12
FREQUENCY:
and proposals
2 Others (specify):
Combination of CEO, COO/CFO Pricing function is

Business Development Lawyers set pricing, inside marketing/BD,
work directly with the 18% Team & Lawyers

NA
division heads review
it and Director of
done collaboratively
with lawyers
Practice Management It varies depending on
lawyers on pitches COO
Varies by pitch/Client;
reviews it attorney. At times all
FREQUENCY: of the above have been
and proposals could be any of the BD/Marketing and
pricing and attorneys done
20 above
Marketing works with
work together All work collaboratively

Q9-A
WITHIN YOUR LAW FIRM, WHICH OF THE FOLLOWING ARE FACILITATORS OR
BARRIERS OF CHANGE...
PERFORMANCE OF PEER FIRMS? CLIENT-DRIVEN MANDATES?
84% 16% 92% 8%

Facilitator of Barrier of Facilitator of Barrier of
change total of
change change total of
change
81 people 93 people
asked asked
68 13 86 7

Q9-B
MANAGING PARTNERS? INFLUENCE OF LATERAL HIRES?
75% 33% 82% 20%

change change change change
68 30 69 17
total of 91 people asked total of 84 people asked
For some questions, multiple answers are selected by some people.

Q9-C
ADMINISTRATIVE LEADERSHIP? EXTERNAL CONSULTANTS
79% 28% 72% 28%

FREQUENCY: FREQUENCY: FREQUENCY: total of FREQUENCY:
72 people
76 27 52 asked 20
total of 96 people asked

Q9-D
ATTORNEY COMPENSATION PLAN ANALYST MARKET ASSESSMENT REPORTS
AND STRUCTURE? (ALM, CITI, ETC.)?
28% 76% 89% 13%

27 72 63 9

Q9-E
AMOUNT OF FINANCIAL PERFORMANCE/
NON-ATTORNEY RESOURCES? PROFITABILITY TARGETS?
41% 60% 69% 33%

35 52 63 30

Q9-F
OTHER (SPECIFY)?
0% 100%
Facilitator of Barrier of
change change
FREQUENCY: total of FREQUENCY:
5 people
0 asked 5
Others (specify):
Partner comp plan Allocation of human and Complacency

Firm structure (Verein) financial resources Senior Equity Partners

Q10
WHICH OF THE FOLLOWING BEST DESCRIBES YOUR FIRM’S SUCCESSION
PLANNING STRATEGY?
8% 15% 12% 16%

Mandatory Sunset Period Don’t know Others (Specify)
retirement
FREQUENCY: 15 total of 12 16
8 103 people
asked Others (specify):
It’s a combination of Case-by-case varies per group on
14% 37% the first three factors,

mandatory retirement,
the acquisition, sunset
conversations; attempt
to develop young
leaders earlier to take
how it is handled
Succesion planning
is part of our firm’s
A variety of custom on management roles strategic plan.
De-equitization No succession plans Handled on a case Formalized question-
plans must be by case basis. No naire/written plan
plan in place discussed beginning mandatory retirement required
FREQUENCY: at age 55 with practice Succession planning Combination of sunset
14 FREQUENCY:
mangement
formal process/
in place
Mandatory conver-
period and change in
status/de-equitization
38 case by case timing sation Specific for each role
Varies by partner NA
Combination of above

Q11
WHAT IS THE MANDATORY RETIREMENT AGE AT YOUR FIRM?
66
AVERAGE

Q12
HOW DOES YOUR FIRM’S ATTORNEY COMPENSATION STRUCTURE IMPACT
REVENUE GENERATION AND/OR FIRM STRATEGY INITIATIVES?
It does not impact 20% 14% It is an obstacle for firm

either FREQUENCY: FREQUENCY:
strategy
20 14
total of
It is often an obstacle 40% 100 people 16% Don’t know
for both asked
40 16
It is an obstacle with 10%

revenue generation
FREQUENCY:
10

Q13
WHICH COMPENSATION SYSTEM IS USED AT YOUR FIRM?
4% 28% 8% 16%
Lockstep Formula Don’t know Others (Specify)
(by class/tiers) (base, including
bonus, based on
FREQUENCY:
hours, origina-
total of 8 16
4 102 people
tion credits)
asked Others (specify):
FREQUENCY:
29 Combination of formula Subject and formula Formula (Base,
44%
and subjective A mixture. No origina- Performance, team
Combination of formula tion credit, but billings work, bonus)
and subjective assess- are taken into account 75% formula, 25%
ment based on non- (for some). subjective
Subjective financial contributions

Matters are controlled
Combination Combination of the
first three
Subjective-firm
(decided by a by the MD and he
decideds who gets the
contribution, Combination lockstep/
mentoring etc.; OA; formula
committee) work which ultimately
affects what compen-
and profitability Subjective with
Formula based plus objective data
sation is paid at the end
subjective for partners, Both formula and
FREQUENCY: of the year.
formula for non-equity subjective
Depends on attorney
45 type
partners
NA

Q14
HOW ARE ATTORNEYS REWARDED FINANCIALLY FOR DEVELOPING
NEW BUSINESS?
Origination credit 51% 9% Don’t know

which translates to FREQUENCY: FREQUENCY:
compensation/bonus 51 9
total of
Reward amounts are 21% 100 people 4% Other (specify)
determined by an asked
executive/compensa- 21 4
tion committee
There is no specific 15% Others (specify):
The MD usually takes Track origination, NA

reward system over which clients reward amounts
FREQUENCY: are acquired by other determined by
15 directors. Senior Asso-

ciates and Associates
committee
Combination of first
are not allowed to two responses
acquire new business.

Q15
DO THE ATTORNEYS IN YOUR FIRM RECEIVE CREDIT TOWARDS THEIR ANNUAL
REVENUE/BILLABLE TARGETS FOR BUSINESS DEVELOPMENT ACTIVITIES?
15% 9% 16% 53%

Yes, credit for Yes, each Don’t know No
billable hours attorney has
a business
FREQUENCY:
development
total of 16 53
15 100 people
activity target
to hit as part of asked
their bonus
7% FREQUENCY:
9 Others (specify):
Yes, Other
It’s encouraged, but is Each attorney can NA
(Specify) not a hard target earn bonus for extra Only for competitive
Subjective by comp efforts toward business bids
comm development
FREQUENCY: They get kudos but not
Associates can get
7 credit for 50 billable
hours for BD.
sure that translates
into dollars

Q16
WHO DOES YOUR FIRM’S SENIOR-MOST MARKETING/BUSINESS PROFESSIONAL
REPORT TO? (Select one response)
34% 10% 0% 12%

Managing Marketing CFO CEO
Partner Partner
FREQUENCY: FREQUENCY: total of 0 12
34 10 101 people
asked
4% 0% 23% 18%
Executive CIO COO Other
Director (Specify)
FREQUENCY: 0 23 FREQUENCY:
4 18
Others (specify):
Member of the management Dual reporting to Chairman/CEO Dotted line to Marketing Partner on Member of Management Group, Executive Committee President
committee, one of two candidates and COO management committee; direct line #3 in firm hierarchy Management Committee NA
to take over the CEO spot Chairman of the firm to COO/CFO; and direct to MP Management Committee Chairman / Founder Chief Operating Partner
Board Managing Partner and COO Chief Client Officer 5 Member Executive Committee

Q17
IS YOUR FIRM’S SENIOR-MOST MARKETING/BUSINESS DEVELOPMENT
PROFESSIONAL A MEMBER OF THE FIRM’S EXECUTIVE COMMITTEE?
20% 6%
Yes, but not a Yes, but a voting
voting member member
FREQUENCY: total of FREQUENCY:
20 100 people 6
asked
74%
No
FREQUENCY:
74

Q18
WHAT IS THE TOTAL NUMBER OF FTE (FULL-TIME EQUIVALENT) MEMBERS OF
THE FIRM’S MARKETING/BUSINESS DEVELOPMENT TEAM?
26
AVERAGE

Q19-A
WITHIN THE MARKETING/BUSINESS DEVELOPMENT TEAM, HAS THE NUMBER OF STAFF FOR EACH
OF THE FOLLOWING TITLES, INCREASED, DECREASED, OR STAYED THE SAME OVER THE PAST YEAR...
RESEARCHERS/INTELLIGENCE ANALYSTS
(INCLUDING CI PROFESSIONALS)/ GRAPHIC DESIGNERS/WRITERS?
DATABASE STEWARDS/SPECIALISTS?
30% 3% 18% 10%

Increased Decreased Increased Decreased
22 2 13 7
total of total of
74 people 71 people
asked asked
68% 0% 72% 0%
Stayed the same Not applicable Stayed the same Not applicable
50 0 51 0

Q19-B
MANAGERS/SENIOR MANAGERS
MARKETING TECHNOLOGISTS? (MANAGERS, DIRECTORS, COORDINATORS)?
34% 3% 44% 5%
21 2 41 5
total of total of
62 people 94 people
asked asked
63% 0% 51% 0%
39 0 48 0

Q19-C
EXTERNAL CLIENT EXECUTIVES/
CHIEF OFFICERS? BD PROFESSIONALS?
8% 3% 40% 8%
6 2 29 6
total of total of
73 people 73 people
asked asked
89% 0% 52% 0%
65 0 38 0

Q20-A
WHAT ARE THE TOP 3 RESPONSIBILITIES OF THE MARKETING/BUSINESS DEVELOPMENT
PROFESSIONALS AT YOUR FIRM...
COMPETITIVE/CLIENT/MARKET? DIRECTORY AND AWARD SUBMISSIONS?
13% 50% 38% 0% 20% 80%

1st 2nd 3rd 1st 2nd 3rd
1 4 3 0 2 8
total of total of
8 people 10 people
asked asked

Q20-B
BRANDING INITIATIVES
(ADVERTISING AND SPONSORSHIP’S)? COLLECT CLIENT INTERVIEWS AND FEEDBACK?
14% 38% 48% 22% 22% 56%

3 8 10 2 2 5
total of total of
21 people 9 people
asked asked

Q20-C
DEVELOP STRATEGIC PLANS SUPPORT THOUGHT LEADERSHIP
(FIRM-WIDE/PRACTICE/INDUSTRY)? (DEVELOP CONTENT AND MANAGE EVENTS)?
41% 37% 22% 17% 40% 43%

11 10 6 5 12 13
total of total of
27 people 30 people
asked asked

Q20-D
TECHNOLOGY AND INNOVATION
(DEVELOP AND MANAGE MARKETING/BD)? ATTORNEY COACHING?
33% 42% 25% 39% 29% 32%

4 5 3 11 8 9
total of total of
12 people 28 people
asked asked

Q20-E
BD SUPPORT (RFP RESPONSES AND
PRESENTATION MATERIALS)? PRICING?
47% 26% 27% 0% 0% 0%

33 18 19 0 0 0
total of total of
70 people 0 people
asked asked

Q20-F
COMMUNICATIONS CLIENT MANAGEMENT
(INTERNAL AND EXTERNAL)? (DEVELOP CLIENT GROWTH STRATEGIES)?
25% 38% 38% 50% 32% 18%

10 15 15 14 9 5
total of total of
40 people 28 people
asked asked

Q20-G
OTHER (SPECIFY)?
40% 60% 0%
1st 2nd 3rd
2 3 0
Others (specify):
total of
5 people Ensure that partners Events Two separate departments
asked adhere to sales portion BD Initiatives NA
of business plans

Q21-A
HOW ARE THE MARKETING/BUSINESS DEVELOPMENT PROFESSIONALS IN THE
LAW FIRM DEPLOYED THROUGHOUT THE FIRM? (Select all that apply)
By Practice Group 38% 26% By Industry Group

(Firm wide) FREQUENCY: FREQUENCY:
36 25
By Practice Group 17% 26% By Office Location(s)/

(Local/Regional) Geography
16 25
By Client Team 17% 51% Firm Wide (all practices/

industries)
16 48

Q21-B
HOW ARE THE MARKETING/BUSINESS DEVELOPMENT PROFESSIONALS IN THE
LAW FIRM DEPLOYED THROUGHOUT THE FIRM? (Select all that apply)
By Specialty, such as 36% 7% Other (specify)

Communications, Events, FREQUENCY: FREQUENCY:
Technology, and more 34 7
Others (specify):
BD m,anagers assigned Practice region, BD resources

to specific practice/ Combination of the are by practice/
industry groups and above industry/client
the marketing team Mix of PG, Clieant team,
Mix of the above
provided firm wide Geo and Industry
support Marketing resources
are by specialty and NA
Geography and

Q22
DO THE PROFESSIONALS IN THE MARKETING/BUSINESS DEVELOPMENT
DEPARTMENTS HAVE DIRECT CONTACT WITH PROSPECTS AND/OR CLIENTS?
Is empowered to reach 15% 38% Have direct contact

out to clients directly. FREQUENCY: FREQUENCY:
with clients and
14 36 prospects with the
approval of the
total of attorneys.
95 people
Rarely have direct 43% asked 4% Other (specify)
contact with prospects
or clients. 41 4
Others (specify):
NA The marketing/ There’s no implicit

Email contact, BD department has restriction but there is
generally eblasts significant contact with not a process in place
prospects and limited to provide for it.
contact with clients.

Q23
DO THE MARKETING/BUSINESS DEVELOPMENT PROFESSIONALS TRACK THEIR
HOURS WORKED PER PROJECT? (Select one response)
Yes, on pitches, 6% 7% Yes, on all activities

proposals, and/or RFPs FREQUENCY: FREQUENCY:
6 7
total of
95 people
No, hours are not 86% asked
formally tracked
FREQUENCY:
82

Q24
IS THE TIME...? (Select one response)
Tied to a fully-loaded 8% 8% Factored into attorney

cost per hour number FREQUENCY: FREQUENCY:
compensation
1 1 calculations
total of
Factored into the ROI 8% 13 people 38% Not measured against
of various client asked any firm initiative
development initiatives, 1 5
such as client events
Factored into the Client 15% 23% Not utilized at all

Acquisition Cost (CAC)
for ROI on new revenue 2 3
wins

Q25-A
WHAT IS YOUR FIRM’S APPROXIMATE OVERALL BUDGET (IN U.S. DOLLARS)
FOR MARKETING/BUSINESS DEVELOPMENT?
$5,262,548
AVERAGE

Q25-B
MARKETING BUDGET
MARKETING BUDGET AS A AVERAGE MARKETING BUDGET,

PERCENTAGE OF FIRM REVENUE: UNRANKED FIRMS:
1.66% 2.5%
AM LAW 100 AM LAW 200 $2,354,946
AVERAGE

Q26
SINCE THE PREVIOUS YEAR, HAS THE MARKETING BUDGET? (Select one response)
49% 15%
Increased Decreased
46 total of 14
93 people
asked
35%
Stay the same
FREQUENCY:
33

Q27
BY WHAT PERCENTAGE HAS THE MARKETING BUDGET...
INCREASED DECREASED
+7% -18%
AVERAGE AVERAGE

Q28
WHAT PERCENTAGE OF THE MARKETING/BUSINESS DEVELOPMENT BUDGET IS
DEVOTED TO…?
15% 15% 17% 6% 6% 5%

Existing client New business External Existing New technology Business devel-
development development events technology deployments opment coaching
5% 10% 17% 15%

Others (specify):
Retreats and Branding Staff salaries Other Client-facing gifts/promo items/ PR

communication tickets/collateral/ads Practice division
internal events (Specify) platforms Innovation specific budgets
Communications Much of our technology Public Relations
Competitive is contained within our Staff saleries not
intelligence IT budget, not MBD included
Confidential NA Travel
consultant Organziations Uncategorized
Don’t know Partner reimbursement

Q29-A
WHICH METRICS/STRATEGIES DOES YOUR FIRM USE AS A COMPETITIVE
ADVANTAGE IN BUSINESS DEVELOPMENT? (Select all that apply)
Leverage/staffing 32% 49% Diversity Rates

metrics FREQUENCY: FREQUENCY:
23 36
Budget to Actual 23% 66% Fee arrangement

statistics from similar
matters 17 48
Cost of Resolution to 19% 51% Office locations/

Budget metrics from footprint
similar matters 14 37

Q29-B
Reputation awards – 56% 36% Specific matter

individual/firm FREQUENCY: FREQUENCY:
performance metrics
(Chambers, Legal 500, 41 26 (Litigation, M & A, etc.)
Best Lawyers, etc.)
Data security protocols 21% 81% Attorney relationships

and certifications
15 59
Specific experience/# 82% 68% Attorney qualifications

of experience matters
60 50

Q29-C
Other (specify) 5%
FREQUENCY:
4
Others (specify):
Client service Firmwide specialization Referrals and NPI score

Confidential (boutique)

Q30-A
HOW DOES YOUR FIRM CONDUCT BUSINESS DEVELOPMENT TRAINING FOR ITS LAWYERS…
PARTNERS?
Using internal FTE’s 29% 7% Using primarily outside

from Marketing/ FREQUENCY: FREQUENCY:
consultants
Business Development 21 5
total of
73 people
Using both internal 55% asked 10% Not Applicable/No
FTE’s and outside training
consultants 40 7

Q30-B
ASSOCIATES?

consultants
total of
74 people
consultants 29 5

Q30-C
SELECTED LIST/GROUP OF ATTORNEYS?

consultants
total of
72 people
consultants 30 7

Q31-A
HOW IS THE SUCCESS OF THE BUSINESS DEVELOPMENT TRAINING MEASURED?
(Select all that apply)
New client origination 67% 13% Gamification of activity

metrics
46 9
New practice area work 51% 36% Initiation of referral

from existing clients connections
35 25
Increase pre-defined 51% 52% Increase in pipeline

strategic business valuation and advance-
development activity 35 36 ment of opportunities

Q31-B
HOW IS THE SUCCESS OF THE BUSINESS DEVELOPMENT TRAINING MEASURED?
(Select all that apply)
Other (specify) 19%

FREQUENCY:
13
Others (specify):
Don’t measure training Monitoring written BD Performance against

success directly plan implementation/ goals.
Feedback from at- goal setting Subjective
tendees Not really measured Untracked
It is too new to measure Not sure NA
Numbers involved

Q32-A
WHAT DO YOU CONSIDER TO BE THE BIGGEST BARRIERS TO REVENUE GROWTH
AT YOUR FIRM? (Select all that apply)
Client conflicts 16% 19% Competition from

alternative service
12 14 providers
Competing law firms 46% 49% The firm’s attorney

compensation plans
34 36
Work being kept 35% 50% Internal politics

in-house
26 37

Q32-B
WHAT DO YOU CONSIDER TO BE THE BIGGEST BARRIERS TO REVENUE GROWTH
AT YOUR FIRM? (Select all that apply)
Unmotivated attorneys 58% 35% Understaffed adminis-

trative teams
43 26
Lack of management 18% 8% Other (specify)

support
13 6

Others (specify):
Attorney capacity other admin depart- Time pressures of

Lack of good admin/ ments to step up/play a attorneys
sales support role in business genera- Trust
(marketing department tion & retention)
NA
is overtaxed - need Lack of PM to decrease
secretaries/paralegals/ internal costs

Q33-A
WHAT ARE THE METRICS BY WHICH YOU MEASURE THE SUCCESS OF
MARKETING /BUSINESS DEVELOPMENT EFFORTS? (Select all that apply)
Client retention and 71% 65% RFP win percentage

existing client revenue FREQUENCY: FREQUENCY:
growth percentage 51 47
(wallet share)
Revenue per lawyer 81% 49% Client feedback scores

percentage growth
58 35
Pitch win percentage 67% 44% Brand awareness and

strength
48 32

Q33-B
WHAT ARE THE METRICS BY WHICH YOU MEASURE THE SUCCESS OF
MARKETING /BUSINESS DEVELOPMENT EFFORTS? (Select all that apply)
Measurable ROI on 53% 36% Social media analytics

initiatives FREQUENCY: FREQUENCY:
38 26
Awards/marketplace 39% 49% Media mentions

recognition
28 35
YOY RFP volume 32% 8% Other (specify)

increases
23 6
Others (specify):
total of 72 people asked Accomplishment of

yearly goals
New matters, revenue
from new matters, new
due to low volume
No ROI in place
growth in total hours clients ROI on teams, groups
and hours per lawyer No real metrics tracked

Q34
YEARS IN LEGAL MARKETING/BUSINESS DEVELOPMENT.
3% 5% 53% 27%
Less than 3-6 years 11-20 years 21+ years
3 years
FREQUENCY: 4 total of 39 20
2 74 people
asked
12%
7-10 years
FREQUENCY:
9

at.alm.com/legalcompass
QUESTIONS, THOUGHTS / COMMENTS, OR

INTERESTED IN MORE STUDIES FROM US,
CONTACT:
Steve Kovalan Rob Alston Patrick Fuller

Director of Research Senior Director Vice President
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2018 LC Marketing Bus Dev Survey Final

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2018 LC Marketing Bus Dev Survey Final

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2018

LAW FIRM BUSINESS

SURVEY STATS METHODOLOGY

37 February 27 — April 9, 2018

 S and UK the AmLaw

4 200, Global 100 and marketing/business

Yes, they are combined 77% 1% Yes, Marketing

Yes, they are separate 10% 3% No.

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FIRM WIDE STRATEGIC PLAN? PRACTICE/INDUSTRY GROUP STRATEGIC PLAN?

42% 23% 55% 12%

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CLIENT TEAM STRATEGIC PLAN?

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FIRM WIDE STRATEGIC PLAN? PRACTICE/INDUSTRY GROUP STRATEGIC PLAN?

86% 14% 0% 96% 4% 0%

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CLIENT TEAM STRATEGIC PLAN?

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50% 40% 8% 50% 42% 6%

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RE-ENGAGING WITH FORMER CLIENTS? NEW BUSINESS THROUGH LATERAL HIRING?

20% 54% 20% 24% 52% 12%

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17% 42% 34% 15% 38% 36%

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FREQUENCY: FREQUENCY: total of FREQUENCY: FREQUENCY:

20% 41% AFA Committe, CFO

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The Marketing/Business Development and

frequently collaborate on 34% FREQUENCY:

Combination of CEO, COO/CFO Pricing function is

work directly with the 18% Team & Lawyers

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PERFORMANCE OF PEER FIRMS? CLIENT-DRIVEN MANDATES?

84% 16% 92% 8%

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MANAGING PARTNERS? INFLUENCE OF LATERAL HIRES?

75% 33% 82% 20%

For some questions, multiple answers are selected by some people.

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ADMINISTRATIVE LEADERSHIP? EXTERNAL CONSULTANTS

79% 28% 72% 28%

For some questions, multiple answers are selected by some people.

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28% 76% 89% 13%

For some questions, multiple answers are selected by some people.

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41% 60% 69% 33%

For some questions, multiple answers are selected by some people.

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Partner comp plan Allocation of human and Complacency

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8% 15% 12% 16%

It’s a combination of Case-by-case varies per group on

14% 37% the first three factors,

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It does not impact 20% 14% It is an obstacle for firm

It is an obstacle with 10%

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Subjective financial contributions

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Origination credit 51% 9% Don’t know

S and UK the AmLaw