The above title would be a better headline for the article in Law.com’s Legal Technology section, which carries the headline Good Law Firms Turning Virtual instead. The article, by Stacy West Clark, The Legal Intelligencer, is a nice summary of recent trends faced by law firms in a dynamic marketplace 30 years after the first lawyer advertising was allowed. If you are new to legal marketing, or if you ‘re realizing you should be paying more attention to it as it affects your firm, this article is a great start. Among the trends:
• Large firm’s are spending $3 million to $9 million on marketing
• De-equitization is happening to lawyers who don’t have books of business
• Lawyers are competing with non-lawyers in some areas
• And, oh yes, alternative law firms — or virtual law firms — are cropping up such as Axiom Legal, which according to the article is “the country’s first virtual law firm…. The firm’s list of clients is extremely impressive, boasting some of the country’s best-known companies.”
