08 October 2015

Optimism grows among US law firms

A 'renewed sense of optimism' has been spotted by LexisNexis in its survey, 'Law Firms in Transition: Marketing, Business Development and the Quest for Growth' - research which also shows that competition is seen as the number one barrier to growth.

Gunnar Pippel

Over half of those surveyed (57 per cent) are optimistic about law firm growth this year, while roughly one third expect growth to remain flat. Only 5 per cent say they were pessimistic. Thought leadership (cited by 63 per cent) is the top area in which law firm business development and marketers say they will invest in online growth.  

Changing dynamics

Matt Thompson, director of the Client Success Team for the LexisNexis InterAction group, said: 'There’s a renewed sense of optimism for business development in law firms and wide consensus on the barriers to growth. Legal marketers universally agree that winning strategies and tactics have shifted as the market dynamics have changed, though there are subtle differences in how law firms believe marketing and business development should be structured to meet market needs.' Source: LexisNexis

Email your news and story ideas to: news@globallegalpost.com