Easy. Just wait.
24% of law firm marketing leaders say the BD skeptics will disappear in 2 years. Why? These CMOs think the combination of heightened competition, dwindling client retention, new client demands, and new GCs shopping for law firms will convert the unbelieving. And, they add, the baby boomers keep retiring so the skeptics in this group are dropping out of the system.
You are best served avoiding the skeptics at all costs and spending your time and energy on your BD believers. You can read more about CMO advice on dealing with the BD skeptics while they are still in your ranks here.
We asked more than 160 marketing leaders what trends would disappear from the legal marketing and business development world. While BD skeptics were the number one answer—here is the rest of the story:
Directories
15% of CMOs tell us directories will disappear. They point to 3 main reasons: 1) law firms will decide to stop using them as they did Martindale-Hubbell in 2007; 2) firms will no longer want to the fund the resources to support the effort; and 3) strong prayers by CMOs wishing they will disappear.
But, in an interesting twist—BTI sees more and more law firms embracing rankings as a measurement tool—so—this may be one of the last trends to disappear.
Old School Marketing
Another 15% of law firm marketing leaders say the last vestiges of traditional marketing communications including printed brochures, generic branding, mass-market webinars, and widespread broadcast messaging will disappear.
New School Marketing
A small group of CMOs predict social media marketing will vanish—as it is much less effective than personal interaction with clients and potential clients. Their point about personal interaction is well taken, but digital marketing can be to personal contact what spinach is to Popeye.
Nothing Will Disappear
25% of CMOs tell us nothing will disappear. They believe law firms will cling to their ways—printing brochures, sending mountains of aseptic email alerts to clients and prospects, and embracing their directories and rankings.
And the Point Is…
3 of 4 CMOs see (or hope) key aspects of the marketing mix going away. This is an undercurrent for change. It’s not enough of a wave to change direction completely—but enough to change course a bit.
MBR