1. © 2011 LawVision. All rights reserved. Product, Pricing, People Silvia L. Coulter, Principal LawVision Group The Law Firm Landscape: ACC Northeast Chapter Presentation

2. 2 So far……. Metrics Legal work product Evolving mature market

3. 3 Short-term leadership themes have remained consistent for a few years Market Share Client Retention, Growth and Succession Capacity Manage- ment Pricing/ Realization

4. 4 The People Side of the Practice Client Retention, Growth and Succession

5. 5 Can Firm Lawyers Do It All? Expertise in specific areas of law—stay on top of it Experience to be hired--prove it Expert in industry/clients’ businesses—how often Accounting magicians—budgets my way or the highway Project management experts—manage it Sales and customer relationship skills—sell, retain and grow it

6. 6 Sales (versus Marketing) Departments are Growing Source: Thomson Reuters6

7. 7 In the past year, MKTG and BD FTEs have increased – this trend should continue for BD Source: Thomson Reuters7

8. 8 Concrete BD activities are thought by firms as most effective—what do clients think? Source: Thomson Reuters BD Activities MKTG Activities

9. 9 Translating Sales Activities to Collaborative Success Law firm attempts at retention and growth can better intersect and align with client needs for: –Collaboration—building effective relationships –Cost Containment—efficient, cost-effective legal work product –Client Business Understanding—corporate structure; suppliers; industry challenges –Client/Firm Goal Alignment—creating win/win

10. 10 The Changing Face of the Client/Firm Relationship As the role of in house and outside counsel continues to be challenged, will processes, cost containment and entirely new ways of doing business help your relationships? Do Clients have a role in making these relationships work? Will law firm salespeople make a difference? (Think about your company’s sales team…) Will spending more on sales-related activities matter? Are Procurement Officers the answer?

11. 11 © Hildebrandt International Questions/Discussion Silvia L. Coulter scoulter@lawvisiongroup.com O-978-526-8316; C-617-697-4869 Thank You