Unpredictable replaced uncertain. Unexpected litigation is rampant. Novel and complex claims are driving a new stream of litigation. All this creates a host of new business development opportunities.

And this is the tip of the iceberg. Our brand new research with more than 280 corporate counsel reveals the key trends underpinning another year of litigation growth. The top 8 are:

1. Litigation spending on outside counsel is growing again in 2024 for the 4th year
2. The caseload is growing for the 4th year in a row — but spending is growing faster
3. 87% of clients plan to increase or hold spending steady in 2024
4. 6 segments within 8 industries are especially robust
5. Complex and high-stakes matters see the biggest growth in cases
6. Client interest in settling surges — but without sacrificing aggressive defense
7. Clients are no longer searching far and wide for the perfect law firms
8. Clients are more open to hiring new law firms than they have been in years

Clients are spending their way through the unpredictable — and are ready to meet whatever the world throws at them with robust and increased budgets.

Only the BTI Litigation Outlook 2024 maps out exactly where the spending is and isn’t — enabling you to target your business development efforts to the best and most robust opportunities.

Clients Share Law Firm Preferences and Powerhouses for Litigation — By Name  

Learn the law firms clients think are best positioned to get the new work — by name and litigation segment — and the most feared law firms.

Discover the new business development tactics working in the uncertain economy and how clients are spending their litigation dollars in 2024 for 8 segments and 18 industries.

The Most Overlooked Market in Years

Too many law firms are convinced 2024 will be a bust. They will lose out to the firms seizing the opportunity. Learn exactly where clients are spending and who they are likely to spend it with.

Order your copy of the BTI Litigation Outlook 2024: Navigating Litigation Spending in the New Unpredictable World here.

More than half of clients are increasing their litigation budgets despite what the pundits say about next year. Learn where and how they will spend it. Order today.

Decoding legal sales is one of the holy grails. Combine savvy business development skills with legal prowess and you just unlocked a path to outsized success.

Brand new research with more than 250 corporate counsel reveals clear preferences about who they want to deal with and what facilitates new law firm revenue.

Dedicated Business Development and Client Service Executives

Clients love their dedicated client relationship manager. You can call them any one of:

• Dedicated Business Development Executives (BDE)
• Client Service Executives (CSE)
• Client Relationship Manager (CRM)
• Client Executive (CE)

And there are likely to be more titles floating around. But — clients know who they are what they do and almost all are almost universally loved.

These individuals — who don’t practice law — watch over a set of specific client needs and run interference on key aspects of the relationship. This is all they do — make life easier for the client and the partners in their firm.

Corporate counsel report 4 common denominators among these professionals:

• Serious caring — it shows and the caring is obvious to clients
• Listening — a dedicated ear combined with empathy and problem-solving
• Institutional knowledge — clients tell us their client relationship manager quickly becomes a walking encyclopedia of their preferences, priorities, needs, and sensitivities
• Streamlining — saving time and money for all involved

The client connection between these client relationship managers is robust. I can’t endorse these professionals enough.

You will find over 50 of these individuals in the top 10 law firms in The BTI Client Service 30. Some with more than others, but just one makes a difference.

Dedicated Sales Executives

Dedicated Sales Executives (DSE) are tasked with finding new clients and bringing them into the firm — or just finding new clients. DSEs are on the bleeding edge of law firm business development strategy. Here is what they are up against:

• 44% of clients report being approached by dedicated law firm sales professionals
• 56% have not
• 9% of all corporate counsel — whether approached or not — are open to it

The 91% who are not enthusiastic share the following.

“Sales is an understood subtext of networking. There’s no reason to add this to the mix.”
– Associate General Counsel, Large Healthcare Company

This quote above says so much about business development and training for attorneys.

“Not encouraging this – if they don’t practice law they won’t understand.”
– Deputy General Counsel, Global Food and Agriculture Company

“I prefer to meet people who I will be working with.”
– M&A Counsel, Leading Semi-Conductor Company

Law firms may or may not be ready for dedicated sales professionals. Few clients are.

Law firms are compelled to find a place for business development in their core strategy. You will find DSEs scoring big successes — and they will continue to do so. But they will be few and far between. The few successes are backed by deep insights the DSE brings — about either the person or potential client company on whom they are calling.

The DSE faces competition from:

• Corporate counsel peer referrals
• Compelling LinkedIn posts
• Thought leadership from law firms
• Clients’ existing networks
• Informal networking groups
• Client relationship managers

Few things beat the caring, listening, and knowledge the client relationship managers deliver.

And — you can gain this current knowledge with clients every day. This offers the perfect setup for developing business with existing clients.

We are in a world where clients are more open to hiring new law firms than they have been for decades. Harvesting and building knowledge is part of the successful business development roadmap. Advantage client relationship manager.

We are in the midst of the largest transformation in the legal world, and we are only one year into it — two more years are imminent.

This unprecedented shift heralds a substantial change in the direction, strategies, and role of business professionals — and the ethos adopted by law firms. It demands new perspectives and approaches to all the tested paths coming before.

BTI research reveals that 40% of law firm leaders have assumed their role in the last three years. It takes two years for a law firm leader to get their sea legs. The first wave of change is just setting in. As the emerging leaders find their footing, they are making decisions about:

These are all strategic issues. The decisions around the direction and approach to each of these defines the law firm’s path — implementation will drive success.

Back to the Sea Legs

Most new leaders from the last 2 years are still getting their sea legs. This presents a rare opportunity for law firms to make an impact. I recommend:

• • Ask new leaders about their priorities and thoughts on the issues above — and others
  • Engage with your ideas and strategies
  • Share your fully informed opinion about the issues in your domain
  • Evangelize for the issues around which you have real passion — and let the passion show
  • Make a compelling case — passion and numbers are equally important

Additionally, we expect 15 to 20% of current law firm leaders to step down in the next 2 years (the 2^nd unseen change). Expect more transformation to come.

The future is unfurling its canvas — new law firm leaders can paint it with bold strokes of visionary strategy and leadership. Transformation is not for the meek.