The Mad Clientist Archives - Page 65 of 86

AFAs Soar to an All-Time High

The votes are in. Clients are loving AFAs. And we’ve got the data* to show just how much:Alternative Fee Arrangements (AFAs) now account for $21.3 billion of outside counsel spending in 2015, up from $13.1 billion in 2013. AFAs are the biggest growth market around—registering a 19.8% compound annual growth…

Michael RynowecerApril 20, 2016

The Mad Clientist

The Real Disruptor Changing The Legal World

Partner compensation rules are being broken as we dismiss and explain away the money being thrown at top partners to lure them away from once untouchable firms—Quinn Emanuel grabs partners from Skadden, Kirkland grabs a top rainmaker from Winston & Strawn, and just last week Paul, Weiss picked Scott Barshay…

Michael RynowecerApril 13, 2016

The Mad Clientist

The Cost of Stealing a Major Client from the Largest Law Firms

First, big law said they want to crush you like a bug. Now they are putting their money where their fly swatter is.The largest 30 law firms in the world are spending substantially more of their marketing budgets on client development than all other law firms. Words are important here—client…

Michael RynowecerApril 6, 2016

The Mad Clientist

Why Clients Fire: The Silent Epidemic Undermining Your Firm

More than 50% of clients say their primary law firm’s biggest weakness is inconsistency.*Consistency in delivery is synonymous with quality, client service and trustworthiness. Clients interpret uneven delivery as lack of commitment, lack of communication within the team, and doubt as to whether the team understands the client’s underlying goals.Clients…

Michael RynowecerMarch 30, 2016

The Mad Clientist

More Innovation in the Legal World

Corporate counsel report a dramatic increase in the number of firms making new and different changes while adding value. Clients identify 143 innovative law firms this year—up from 119 last year—making client-facing changes affecting the client experience for the better.Innovation is one of those rare attributes which attracts new business.…

Michael RynowecerMarch 23, 2016

The Mad Clientist

Clients See Fewer Law Firms Emerging as Future Leaders

Corporate counsel predict 76 law firms out of the 650 firms serving large companies will emerge as the future leaders of the profession. This is 15.6% fewer future leaders than 2015 and contrasts with 2014 when client saw 90 future leaders.Corporate counsel look for leadership qualities such as partner stability,…

Michael RynowecerMarch 23, 2016

The Mad Clientist

Client Short Lists Get Just a Bit Shorter

Corporate counsel are including 2% fewer law firms on their short lists. This compares to a 4% shrinkage in 2015. Clients now consider 6% fewer law firms than 2014 for hire. This means more work may be available to the law firms protecting their place on short lists. In addition,…

Michael RynowecerMarch 23, 2016

The Mad Clientist

Fewer Law Firms Making Changes to Boost Client Service

Fewer law firms are making changes to improve client service, down 18% from 2015. This decrease follows a large increase of 50% in 2015.Clients see fewer law firms changing their business approach and processes to improve client service. Corporate counsel’s larger law firm rosters are forcing law firms to reconsider…

Michael RynowecerMarch 22, 2016

The Mad Clientist

Clients See Fewer Law Firms Suited for Bet-the-Company Work

The number of US companies reporting active Bet-the-Company work tripled in 2015. Yet, these companies report a 13.7% drop in the number of law firms suited to deliver this Bet-the-Company work. Corporate counsel have become more selective and are demanding the best in client service along with their legal savvy.…

Michael RynowecerMarch 22, 2016

The Mad Clientist

No Change in Law Firms Making Changes to Deliver More Value

Streamlining and making corporate counsel’s lives easier translates into better value.Corporate counsel report the same number of law firms making changes in service delivery to increase value as last year, with 138 firms earning recognition in both 2015 and 2016, based on more than 600 interviews with corporate counsel. This may…

Michael RynowecerMarch 21, 2016