We all know Murphy’s law as it’s been bandied about since the late nineteenth century. In essence, it sums up the inevitability that at some point, something will invariably stop working, need fixing or rebuilding. There is a certainty that we all know it’s coming but at the precise point when it finally does occur, few are actually prepared for it.
A Legal High
Under lockdown, we have all witnessed a number of businesses struggle with the economic uncertainty that lies ahead but amongst all the doom and gloom, there have been big winners as well. The legal profession is flourishing with many firms experiencing strong growth this year. One such victor is JMW who recently reported on both record results and an unprecedented number of internal promotions. Time to make hay while the sun shines then because as per Murphy’s law, the dark clouds and heavy rainfall will always be just around the corner.
The Jury’s Out
Traditional sectors like the law have been slower than most to embrace digital opportunities but the Covid-19 pandemic has forced many to fast-track efforts in the online arena.
Lead generation is highly competitive and new cases from traditional sources is not sustainable – over time lead volumes will reduce or cost more, likely both. Law firms need to take back control of their new business pipelines and invest more into digital channels to promote, engage and attract their target audiences. As consumers today we have more options for how we can interact with businesses and brands than ever before, from mailers to email, advertising to sponsorships, word of mouth to social media – yes, more choice… but homogenous choice. For competing law firms, standing out from the crowd with a differentiating proposition and compelling messaging is still the number one challenge.
Investing in human resource is what all businesses do, but bringing in new skillsets from outside the legal sector is also hugely important for law firms to evolve and grow. Embracing the uncomfortable is all too often shirked for someone else to do. That someone else will be your competitor. If you don’t invest time and efforts into developing your marketing strategy and how you can enhance your brand, build trust and credibility, showcase success and share best proactive advice with your audience, your business will start to decline. Better to be constantly trialling and testing new channels and content to see what works and then bake that into your daily routines. Without it, one day soon you can pretty much guarantee something that can go wrong, will go wrong. It’s Murphy’s Law.