You’ve Landed a New Lateral – Now What?
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Transcript of You’ve Landed a New Lateral – Now What?
© 2008 Hellerman Baretz Communications
You’ve Landed a New Lateral – Now What?John Hellerman
Legal Marketing Association
March 13, 2008
Los Angeles
© 2008 Hellerman Baretz Communications
The FIGHT is Over Talent Red-Hot Lateral Market (2423 moves in 2007) $600K to integrate lateral w/$1.5 – $2MM Book MPs Spending 60%+ Time On Talent Issues Rankings Growth Slowing Economy Makes Top Talent Valuable
“In a recession you may not hire the junior level person… but you’re certainly going to hire the top-level
person.”
To the Victor…Will Come the Clients
© 2008 Hellerman Baretz Communications
Clients Buy Lawyers
A firm becomes branded by the reputation and performance of its partners over time.
Lawyersare the Product
Law Firms are the Product
Marketers
© 2008 Hellerman Baretz Communications
Lawyers Buy Law Firms
The strong institutional brand you’ve been building???
Use it to attract talent with large portable books of business.
MARKETING
Lawyers
Clients
This is what it’s for!!
© 2008 Hellerman Baretz Communications
“Lateral” Should Mean Up Not SidewaysWHAT DO THEY WANT? Leverage the Platform (You’re the Platform) “More Support” (MORE EVERYTHING) (Everything you have to offer!!)
WHAT DO YOU WANT?Programs that are: Effective at achieving a goal Relevant to ExCom Easy to Manage Easy to Measure
© 2008 Hellerman Baretz Communications
You’ve Landed a New Lateral – Now What?
MARKET THE @#&%! OUT OF THEM!!
Strategic Easy to Measure & Manage Relevant to ExCom Creates Goodwill Attracts Clients Attracts More Laterals
© 2008 Hellerman Baretz Communications
Lateral Integration: The Next Check BoxCreate a bold communications campaign that quickly leverage and impact the 2 Critical, Credentialing R’s:
Reputation & Relationships
BASICS Speaking Bylines Features (Q&A, Profile, Issue) Thought Leader Quotes Best of Lists/Rankings
ADVANCED Super Bios/Q&A Releases Blogs/Custom Publishing Consolidated Marketing
Surveys Roundtables
© 2008 Hellerman Baretz Communications
Lateral Marketing: Sample Timeline
Months 1-3 Months 4-8
Months 9-10 Month 11 Month 12
Finalize PlanningAnnouncement Ad & MediaSuper Bio producedQ&A release distributedTrainingThought Leader Quotes
Byline articles publishedSpeaking gigsFeature Q&AThought Leader Quotes
Roundtable or Survey& Promotion
Transition to next campaign or general marketing
Evaluation and recommendation
Before the Move
IntroductionPreliminary research &Initial planning
© 2008 Hellerman Baretz Communications
Lateral Integration: Reporting Value
A. Measurement Systems• Dollars
• Relationships
B. Marketing the Results• Internal Consumers
• Legal
• Industry
© 2008 Hellerman Baretz Communications
Lateral Integration: Benefits
Winning the war on talent will make you indispensable to Your ExCom
The Results of a Successful Campaign: More Clients More Willing Laterals Happy Partners (!)