Law Firms Archives - Page 39 of 42 - The BTI Consulting Group

The 8 Habits of Highly Profitable Law Firms

Everyone loves profits. Everyone loves to talk about profits per partner. We will restrain ourselves and not talk about the value of profits per partner as a metric, as hard as it is. Instead, let’s focus on how people stare endlessly at the eye-popping numbers of the top reported firms.…

Michael RynowecerSeptember 16, 2015

The Mad Clientist

Large Law Edges Out Mid-Sized Firms for New Work, with Higher Rates

The score is in: large law 60, all others 40.60% of law firm hires went to larger law firms (650 lawyers or more) in the last year. Clients report hiring large law as a result of increased and more pointed attention—think industry knowledge and more specific discussion of company issues. Think…

Michael RynowecerAugust 12, 2015

The Mad Clientist

The Most Recommended Law Firms

Last week we shared why only 33.3% of corporate counsel recommend their primary law firm to a peer—a task they do not take lightly. Recommendations are personal statements about the recommender as much as they are about a law firm’s client service, quality and commitment. With clients always expecting more, law firms…

Michael RynowecerJune 24, 2015

The Mad Clientist

Every Firm Can Beat the Spike In Attorney Resistance to Change

The more things change the more we resist. 54.1% of law firm marketing leaders report partner resistance to change as their most vexing problem—more than doubling from the 22.5% reported in 2005. Back then, corporate legal spending was soaring while law firms worried only about capacity to meet demand. Fast…

Michael RynowecerJune 10, 2015

The Mad Clientist

The Great Revenue Deception

Revenue is so deceptive. As long as we have growth it's all good. But, it hides so many sins and can be so misleading. It can also mask great success. Too bad it sits right up at the top of the income statement for all to see. Hiding the Truth…

Michael RynowecerJune 2, 2015

The Mad Clientist

Clients Drop 11 More Law Firms — Hitting 15-Year Low

Clients have the smallest law firm panels in 15 years. A typical large company now relies on 36 law firms—down from 47 firms last year. This marks the second year in a row of the shrinking law firm panel. Despite the new low, corporate counsel report no plans to stop…

Michael RynowecerMay 27, 2015

The Mad Clientist

Highest Rates Clients Pay Jump to $1600, Top Rates up 8%

Clients pay $1,600 an hour after any discount as the highest rate in the market—a new all-time high for the top rate. And, this is not an isolated rate—more than a few clients report paying $1,600 per hour. 4 Figure Hourly Rates Officially Part of the Legal Landscape 38% corporate…

Michael RynowecerMay 20, 2015

The Mad Clientist

Could it be Low T?

Client relationships feeling a little sluggish lately? Losing some of the old vitality they used to have? The conversations, the vibe and the business you’re getting just don’t have the spark or energy they once had. You feel like they’re a shadow of what used to be. Is it Low T?…

Michael RynowecerMarch 25, 2015

The Mad Clientist

60% of Clients Replace Their Primary Law Firm

60% of large clients have replaced one of their 2 primary law firms—the highest turnover rate in 7 years. The overwhelming reason—mediocre client service. The scary part—the client service isn’t bad—it’s just not great. Corporate counsel show shrinking patience for anything short of a superior client experience. Clients now believe even…

Michael RynowecerMarch 18, 2015

The Mad Clientist

Zen and the Art of Arrogance

Market leaders in 11 professional service markets are arrogant. It’s absolutely true. Over the last 25 years, BTI has performed deep dive analyses into client expectations and preferences for professional service providers in 11 different segments including Law, Accounting, Management Consulting, Engineering, Digital Marketing Agencies and more. Our shocking discovery:…

Michael RynowecerDecember 10, 2014