This article by Stephanie Lovett for The Legal Intelligencer, Midsized Firms Could Benefit in Climate of Firm Switching, identifies a downward trend in client loyalty as a “hiring frenzy” — as she describes corporate clients “trying firms on for size” with the ultimate goal of reducing the overall number of firms used. These “secondary law firms” writes Lovett, are in the best position to capitalize on the trend. “While secondary firms range in size,” the article states, the situation is “an extraordinary opportunity for midsized and smaller firms.”
The reasons given:
- aggressiveness of these firms to “exceed expectations by being flexible, creative and responsive”
- being more hungry for business — being more creative and proactive
- differentiation through exceptional client service.
Additionally, a firm’s “perceived commitment to help” is key.
Read the full article for more.