“The legal industry has moved away from a time of calling for great change but not really changing.”

This is how Mike Abbott, global lead of Enterprise Thought Leadership & Content Strategy at Thomson Reuters, characterized the legal space in his opening address at the most recent Marketing Partner Forum.

“Today’s most successful law firms are focusing on areas of pricing, firm growth, legal tech adoption, workflow efficiency, and business development in order to create a successful strategy in the market place,” Abbott added.

The annual Marketing Partner Forum is designed for client development partners, rainmakers and senior-level legal marketing and business development personnel in the legal profession. The 2019 forum offered sessions focused on those areas for law firms and a new solo/small law firm track. Topics discussed included pricing strategies, compensation models, leadership, regulatory and risk concerns, sales teams, data usage and more.

The Legal Executive Institute featured highlights of the forum, including a recap of Abbott’s insights and a session where attendees received a thorough briefing of the 2019 Report on the State of the Legal Market. Also, the top five takeaways included helpful reminders such as: Be conscious of how you’re grooming your leaders.

Panel sessions addressed firms looking to remain competitive and grow their business, including an examination of law firm compensation and new models for rewarding professionals. Additionally, a video recapped a session looking at the evolution of the relationship partner in firms and the importance of that role with clients.

In another avenue to learn from one’s peers, the 2019 Marketing Partner Forum conducted a Business Development Survey and shared the key findings, noting year-over-year progress law firms are making.

The 27th annual Marketing Partner Forum, will be held Jan. 22-24, 2020, in Miami, and include further discussion of the survey data, key themes, issues and opportunities. Join us in Miami for insights into the trends shaping the business of law.