Brand isn’t about one thing. Your brand is about everything you do. Every action, interaction, the technology your firm uses, the client service your firm provides, or the value a client believes they get from using your firm—these all contribute to the imprint in a client’s mind; an impression which drives hiring decisions—and the rates clients think you are worth.
Strong brands influence client loyalty, hiring, and rates—especially, premium rates. BTI assessed which activities were most important to legal decision makers’ when:
- Making hiring decisions—both consideration and ultimate hiring of law firms
- Bestowing law firm recommendations to peers
- Awarding premium-rate work
Subtle changes in law firm behavior greatly affect how legal decision makers perceive the firm’s overall brand. This year’s in-depth research uncovered 9 significant changes, all of which impact hiring and pricing for every law firm. These are:
Clients See More Innovative Law Firms in 2015
Fewer Law Firms Are Premium Rate Worthy: Premium Rate Firms Declined 16%
Clients Note More Tech Savvy Law Firms in 2015
More Law Firms Seen as Long-Term Market Leaders by Clients
Clients Rearrange Bet-the-Company Law Firm Rosters
Fewer Law Firms Making Changes to Deliver More Value
Downtick in Client-Recommended Law Firms
A Few More Law Firms Make Changes to Boost Client Service
Clients Short Lists Get a Little Longer
No-growth markets amplify the impact of brand strength. Any source of unused advantage is criminal to waste: improved brand equals improved advantage.
Learn how your law firm, regardless of size, can take advantage of the 9 factors to differentiate in the eyes of clients and drive new business. Immediately implement proven steps to drive revenue with the detailed recommendations in the new BTI Brand Elite 2015: Client Perceptions of the Best-Branded Law Firms, available now.