Uncertainty is in the mind of the beholder. So is pessimism.
Optimism lives in the same place. And fully 21% of attorneys indicate they will crush 2023 — meaning a raving success. Uncertainty and recession be damned.
But they are not exactly alone. BTI conducted a flash survey of more than 1,000 attorneys and marketing leadership — here is what they expect:
- 21% are going to crush 2023
- 64% are cautiously optimistic
- 14% are worried about the new year
- 1% are deeply concerned about performance in 2023
The pundits must not be talking to these folks. Optimism outweighs pessimism by almost 5 to 1.
The Crushers know their clients — they have regular voice dialogue and get formal and informal feedback. They have developed a deep understanding of the real priorities — which rarely match the stated goals. These attorneys are unequivocal and always find a way to respond with just the right time sensitivity or better.
The Crushers have positioned themselves to get all this new work. They consistently propose teams and approaches before the clients ask — and their clients love it. It saves clients time and increases confidence these top legal decision makers will get the right outcome — and the fee will be worth it.
The Cautious Optimists see the plethora of client needs and the new work swirling around. They are pretty sure they will get their fair share — mostly through client-initiated requests, proposals, and RFPs. These attorneys believe client need will be stronger than any cost-cutting pressure or recession.
14% are downright worried. They see cost pressures, recession, and a return to the cost-cutting days when demand was well below supply. They are cautious in their approach to clients and reticent to make investments to gain deeper understanding of clients.
Only 1% see serious trouble. I normally would not offer so much emphasis to a small response quotient, but this 1% emphasizes how many attorneys think things may be better than the popular press would have you believe.
Best in the market ahead.
The Mad Clientist
Today! I will be discussing client spending on outside counsel, client service, and the best new opportunities for your firm in 2023 in our 14th annual BTI’s Market Outlook and Client Service Review 2023 Webinar. We are almost at capacity — register now.