Here’s my follow-up post dissecting the very interesting survey by Altman Weil on how corporate legal counsel make decisions on hiring lawyers. So here it is.
In my first comment, I gleefully dissed social media, which ranked a non-existent zero on a 1-10 scale. Now I want to take my comment back – sort of. Let me step back a couple of steps and explain why.
Much of the survey was related to a legal counsel’s perceptions of a lawyer or firm. In that venue, social media is definitely off their radar. Don’t expect corporate legal counsel to want to be friends on Facebook, or on your Twitter feed. That said, social media does play an important part in their perceptions – but second-hand. Someone they trust – who IS on your twitter feed and is a friend (virtual or otherwise) referred them to you. In other words, wisely executed social media, which builds and maintains your referral network, can be very valuable indeed. So, social media ranks a “0” for corporate counsel. But quite possibly it DID get you the client – because of social media one step removed from that counsel.
“Demonstrated understanding of your business/industry” was the top-ranked issue with 9.6 out of 10 points. Again, I don’t imagine too many legal counsel do raw research on the web to find the right attorney. Rather, they first go to others in their industry, other lawyers, or other related professionals for recommendations. Only then, when they’ve gotten a couple of recommendations, they may do some research into the background of those lawyers. But the recommendation comes first, then the check of history & track record.
Same goes for the issue of “directory listings, traditional or online,” which ranked a paltry 3 out of 10. These fall into the same category as websites. The primary purpose of a website – at least for higher-level attorneys in more complex areas – isn’t so the attorney can be found in a Google search for “securities lawyers.” In fact, you really don’t want that type of call. Rather, it’s for VALIDATION – for a more valid prospect to check out a lawyer who has already been recommended. So, directory listings and websites both aren’t big factors – unless you don’t have one.
Why didn’t “personal contact: visits / phone calls / personal notes” rank higher than a 6? Because of a dichotomy. Those things, done too early in a relationship, are usually off-putting. Done judiciously after a reasonable level of relationship has been established are valuable. So essentially “cold” calls would probably rank in the minuses. And calls, cards and visits from “friends” would rank maybe an 8 or 9.
One item I didn’t mention in my last post was “Direct mail / email communications about a firm” which ranked a dismal 2. Why – or better said, why do you really need to ask? Because we are all so overwhelmed by e- and regular-mail that anything that is not strongly and directly relevant to our needs at the moment is viewed as simply annoying. The lesson here is to handle such communications with utmost care. Does it pass the urgency test – “you really need to know this” or just the our-gency test – “we really want you to know this.” If it’s the latter, ditch it.
Enough for now, a bit more later. In the meantime, I highly recommend you peruse the Altman survey and chew it well.