LMA Program Recap and Analysis: “Your 2020 BD Goals are Set. Now What?”

January 29, 2020 at 5:13 pm Leave a comment

On January 15, the Legal Marketing Association, Mid-Atlantic Group hosted the presentation “Your 2020 BD Goals are Set. Now What?” The program, presented by Norris McLaughlin P.A. Chief Marketing and Business Development Officer Jim Jarrell, started with a review of KPIs (key performance indicators) on the legal marketing industry, with studies finding: 1) projections of modest revenue growth; 2) low risk of recession in 2020; and 3) an increased threat by non-legal entities interested in peeling off legal work (e.g. “Big Four” accounting firms).

With these predictions in mind, Jarrell identified three components of a BD plan: 1) networking and lead development; 2) brand awareness; and 3) internal communications and cross-selling. He then walked through potential roadblocks – including time and budget constraints (both artificial and real) and offered his “5 Be’s” to breakthrough: 1) Be intentional; 2) Be consistent; 3) Be accountable; 4) Be prepared; and 5) Celebrate wins.

Regarding the inherently risk-adverse nature of many attorneys, Jarrell suggested to legal marketing attendees that they urge their attorneys to “branch out” and work to “coach them up” into positions where they can succeed.

Through my lens as a communications partner to professional services firm, a key message was reinforced: communications and marketing efforts require both advance strategy (with multiple parties on board – leadership, marketing and communicators) and workable and measurable plans.

Still in the early days of a new year, marketing and communications resolutions are fresh. Now is a good time to review (or craft) your plan for 2020 or for the next few years.

Here are some questions to consider:

– If I have made plans in the past, how successful have I been? Did I properly track and measure how I was doing?

– Are there initiatives or goals that reappear every year? What’s holding me back on these?

– Do I have/have I activated the partners I need in life to provide me the support I need to achieve my goals?

– What is the end goal that all my other goals are feeding into?

– Are there new/different tactics I can try? What’s holding me back on trying these?

With a relatively stable outlook, legal professionals and firms are well-advised to use this time to plan for the future and fine-tune existing marketing and communications efforts. Plan, execute, achieve – the cycle sounds easy enough, but, as Jarrell pointed out, it requires intention, hard-work and adaptability.

Michael Bond

Entry filed under: Uncategorized.

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