Survey Trends in Law Marketing, 2011

FINN PR asked 50 of the most influential Belgian business law firms which trends they expect to emerge in law marketing in 2011. Most law firms report that they expect the era of the 'rainmaker' to end, in favour of a more team oriented approach to law firm marketing. However, the results show that most law firms are ill equipped to start a real content marketing strategy: overwhelmingly, they report that for the next year(s), they will rely on the same marketing channels - and those are mostly sales and business development oriented, like 'networking', 'folders and brochures', 'websites'.

Most Belgian firms are not optimistic about growth: only a third thinks gross revenue will go up next year. Two thirds expect revenue to stagnate.

CONCLUSIONS

1. Firms think changes in the legal landscape since the financial crisis are probably permanent, with in house counsel acquiring a more prominent role in selection of legal providers

2. Firms agree that they will have to adapt to pressures in the market, but don’t seem quite ready to adopt new marketing strategies and tactics

3. There is curiosity about new marketing tactics like social media, but little understanding of how to use them effectively

4. There are tremendous opportunities for law firms that are willing to invert the “traditional” marketing approach and build a client roster through content marketing, online marketing, e-mail campaigns and social media.