When you weren’t looking, midsized law firms took on a new kind of dynamism
This post was guest written by Tim Radaich, senior director of Medium Law Firm marketing at Thomson Reuters
We often think of large law firms as the ones that lead the industry, and in many ways, they do. However, it is arguably midsized law firms that have proved the most nimble and responsive as the entire legal field adjusts to a very changed business landscape.
Clients emerged from the recession of 2008 with tighter legal budgets. That prompted them to expect more from their law firms. Legal skill was taken as a given; insight into a client’s industry, an understanding of a specific client’s needs and a reasonable ability to forecast legal outcomes became prized more highly. In other words, clients wanted their law firms to know them specifically and offer service that’s informed and tailored by that familiarity.
Midsize law firms that are able to demonstrate such an awareness stand an excellent chance of keeping existing clients and winning new ones – including those clients that, in the past, might only have considered working with a large law firm.
This all explains why Thomson Reuters has created its Solutions packages, suites of products formulated specifically for midsized firms.
In order to help our clients become the knowledgeable, informed partners their clients expect them to be, we consulted with them to create Solutions. These product portfolios comprehensively address all the needs of modern, practicing attorneys and equip them to succeed in the new, ever-more demanding legal industry.
Solutions were introduced in late March and so far, the response has been very positive. We’re excited to see where Solutions take us and, more importantly, where they take our midsized law firm clients.
We are at the Association of Legal Administrators (ALA) annual conference this week, so if you are also in attendance, please stop by our booth to learn more about Solutions.
