December 10, 2005
Hunting Bigger Game--Good Boutiques Can Catch and Keep Fortune 500 Clients--Redux
Regularly I'm reading Tom Kane's www.legalmarketingblog.com, a quality blog, and I'm adding it to the list of Blawgs I Read. One of my favorite observations is in the title of one of Tom's recent posts, "General Counsel Do Hire Small Firms". It seems to me that, increasingly (see my November 21 post), general counsel appear to be hiring smaller boutique firms.
Size matters, but less and less. To attract and hold good clients--including Fortune 500 customers--I think you need 5 things: quality lawyers who can work pretty much anywhere; a genuinely client-focused (not the public relations b.s. kind--but the real thing) boutique of those lawyers; planning; hustle; and the right technology.
What about price? I know there's lots of disagreement on this one, but I do not think price is or needs to be a factor in getting and keeping major clients. In short, law boutiques don't need to reduce rates to lure clients away from large firms.
So keep your BigLaw rates. Compete on service. Make some money.
Posted by JD Hull at December 10, 2005 03:44 PM