Selling Big Law - Very Different Rules

 Some in the communications industry might be puzzled by the lack of marketing dazzle on the websites of Big Law players such as Cravath.

For example, these on Cravath's site violate the marketing fundamental of Show, Don't Tell. 

Overview

"Cravath has been known as one of the premier U.S. law firms for two centuries. Each of our practice areas is highly regarded, and our lawyers are recognized around the world for their commitment to the representation of our clients’ interests."

So? 

Practices

"Quality is the hallmark of our practice. Each of our departments is recognized as among the finest in the world."

EXPLORE

"The "Explore" doesn't show. It consists merely of a list (no annotation) of the practices.

So?

When I taught marketing communications at the University of Connecticut, I hammered the Show, Not Tell. 

Yet, Cravath is a very successful law firm. Its Profit Per Equity Partner is $5.803 million.

Here's what seems to be the deal. What I discern is going on is that the development of new business has different dynamics than that of what we classify as "marketing communications."

Those include:

Recruiting and retaining brandnames. Law firms, as do most professional services, rely on brandnames. In a Bloomberg Law interview Paul Weiss Chairperson Brad Karp made that explicit: Growth in Big Law is directly correlated with star power. That's exactly why lateral hires as well as partner departures make for major media stories.

Track record. That's a broad category. It covers everything from the ability to land the account to the value of the transaction such as in M&A or of a settlement as in litigation.

Legal and business media centers make it their business to list the names of the law firms in the loop. For instance, Bloomberg Law wrapped up the article on "In re Zimmer Biomet Holdings Inc. Deriv, Litig.' with such a list:

  • Paul Weiss represented Blackstone. 
  • Ropes & Gray represented TPG
  • Abrams and Wachtell represented Goldman Sachs
  • Morris Nichols represented KKR.

Points of Power Connections. Access is everything. And the leadership and partners of Big Law know how to get, hold, and grow it. In the classic on power "The Power Game" Hedrick Smith described the ways in. What is visible in the Big Law game are these strategies: wealth, donations to political parties/candidates, the appearance of power, presence in the media, The Favor Bank, entertaining, lobbying, and the high emotional intelligence that makes others feel special. Through access come referrals. 

Innovation. That creates an aura. Dentons has been a leader in branching out from legal guidance to consulting profit centers. With its Neuron Wilson Sonsini automated routine legal processes most needed by entrepreneurs. In professional development Sidley Austin created MBA training for midlevel associates. That includes attending elite MBA graduate school programs.

Ability to Provide One-stop Shopping. Increasingly clients demand comprehensive business solutions, not just how to navigate a special legal challenge. The Wall Street Journal documented how law firms are now expanding their expertise to include services ranging from public affairs to risk management. Part of this development has been in response to the competitive inroads into the legal market by the Big4. In Leaders Magazine, Paul Weiss' Karp notes, "We need to deeply understand our clients' business goals, professional culture, key stakeholders and risk tolerance."

It's not unthinkable that elite law firms will evolve into kinds of management consulting firms with the core competence of excellence in legal services.

Therefore, for many law firms with high PPP traditional marketing communications might be approached as window dressing. Not as a core function. So, we in communications should not impose our standard criteria on how they position and package themselves on platforms such as their websites. I had made recommendations. I was ignored. 

Connect with Editor-in-Chief Jane Genova janegenova374@gmail.com. Conjure up magical results in your communications.

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