New law firm leaders bring change. And some are bringing aggressive change — trying to bend the legal landscape to their advantage. If this means crushing you like a bug — no worries — it’s just business. They plan to win and win big.

In 2015 the largest 30 law firms wanted to crush you like a bug. Now — it’s next-generation law firm leaders’ turn. They want to win big — see no barriers to doing so — and are moving to make it happen.

Overall, our survey of 110 law firm leaders reveals 5 core strategies or subsets of thinking about the market. They look like this:

• Crush you like a bug at 9.8%
• There is enough for everyone at 15.2%
• On a battlefield — winning some and losing some at 66.7%
• Chasing the competition at 4.5%
• Only a few competitors to worry about at 3.8%

Crush you like a bug (9.8%)

These mostly Am Law 31-100 firms don’t believe there are any structural boundaries to their ability to grow — in virtually any market. They are:

• • Undertaking aggressive, large-scale lateral hiring
  • Targeting top clients and markets
  • Building infrastructure to support growth

These firms’ leaders assumed their role 30 months ago or less — they are the next generation to take the reins. They relish taking on the status quo and breaking convention. They see themselves as setting the pace for other firms and leading the market.

There is enough for everyone (15.2%)

These firms believe they will get their share of growth. They largely plan to grow with the market or through rate increases. They don’t see themselves aggressively picking up new clients or adding a substantial number of laterals.

On a battlefield — winning some and losing some (66.7%)

2/3 of law firm leaders see themselves fighting for clients and market share. They expect to win clients and lose clients. They are happy with their place in the market — at least for now.

Chasing the competition (4.5%)

These firms see themselves as behind the curve. Most are losing clients and finding it harder to land new business. They realize upping their game is a key to long-term success. They feel like the firm is resistant to boosting business development performance.

Only a few competitors to worry about (3.8%)

A small but important group of leaders don’t think about competition. They are committed to their strategy and see tracking competition as a distraction.

The law firms who want to crush you like a bug could easily be targeting your laterals and clients. The presence of even a small group of aggressive firms puts all others on notice: protect your partner ranks and clients.

We expect an increase in the number of the most aggressive firms — making it more difficult for everyone else. Considering only 35% of clients recommend their primary law firm to a peer — the market is ripe for the aggressive, client-savvy firms to pick up market share and clients. Take advantage of it while it lasts.

Law firms continue to try to up their marketing game. At the same time — CMOs are trying to escalate their careers. This can be a match made in heaven — or a disaster. It also drives demand for top CMOs and turnover in first-chair marketers.

We canvassed more than 300 law firms. We tracked law firm CMO movement through LinkedIn and our own research. Here’s what we found:

• 31% of law firm CMOs made a career move — up from 28% last year
• 12% of these were promoted into the CMO slot at their current firm — up from 5% last year
• 10% (of the 31%) were recruited from another firm — up slightly from 7% last year
• Another 8% of law firm CMOs left the world of law — it was 7% last year

To Change or Not to Change

More than twice as many law firms promoted an internal person into the CMO role compared to last year. They see the value in people who understand the culture and know the partners and the firm’s strategic plan. These firms typically like their current approach and want to amp it up.

Almost the same number of firms brought in a new CMO — they want a fresh perspective and/or want to make changes to the role.

Biggest Reasons for CMOs to Move to a Firm

• Chance to make an impact
• More opportunity
• Leadership change at their existing firm
• A new dynamic leader at the destination firm

What About Comp?

Compensation no longer makes the top of the reasons for a change in firms. CMOs tell me salaries matter but making an impact matters more.

CMOs are doing more due diligence on the firms trying to recruit them. They are looking deeply at:

• Leadership attitude toward Marketing and Business Development
• Partner EQ and courtesies extended during the interview process
• Paying more careful attention to the questions asked during the interview process

More Decliners

CMOs are turning down more inquiries and offers than ever. The top reasons for remaining at their current firm include:

• See themselves as part of the leadership team
• Believe they are making an impact
• Are openly appreciated by a measurable number of leadership partners

Law firms and CMOs are getting pickier and want more. Most are becoming more strategic. Every CMO owes it to themselves to assess their current situation with cold, steely eyes. Law firms owe it to themselves to take the same look at the role and their attitude toward Marketing and Business Development.

Law firms can also benefit from shaping the CMO role from the reasons CMOs change firms above.

The most successful firms are putting more distance between themselves and the other firms. CMOs want to be part of the more successful firms. Perform due diligence on your current firm and any potential firm — especially if the CMOs ability to make an impact and be part of leadership matter more than compensation.