Joseph Flom, the long-term managing partner of Skadden Arps, was quoted calling Virgin Group’s Sir Richard Branson his all-time “personal hero” because “From him I learned the value of a brand.”
Flom’s development and strategic execution of the powerful Skadden brand helped separate the firm from its similarly skilled and high-powered competition. Skadden eventually became the first, perhaps only, global law firm brand, and in the process Skadden also became the first law firm to attain $1 billion in annual revenue. And then $2 billion. Let’s agree that done well, branding works.
A strong brand is arguably the most potent weapon in a marketer’s arsenal. Not just a logo or tag line, it enables some firms to charge much higher hourly rates than the firms down the street because clients perceive they’re getting more value for every hour worked.
If you want to raise your rates, or get better cases or bigger deals, your firm’s market position must merit it. At that point, it’s not about your technical skills, it’s about your reputation, i.e. your brand. And a brand is simply the market’s perception, which is created by marketing.
Fishman Marketing has helped build brands for over 100 law firms and practices, generating countless millions of dollars in additional revenue. We’ve done so in as many ways as we’ve had clients, emphasizing their unique culture or style, or leveraging their history or practice. We’ve helped them dominate industries or geographic regions, or showcased their client service or quality of life.
Law firms come to us seeking additional revenue or profitability, or to attract the highest-quality laterals or law students. Some want to burnish their reputation before seeking a merger candidate, or lock in their market position as the go-to firm for a certain subspecialty practice, or looming legislation.
Most frequently, the firms just want to figure out who they are or what their message is, before updating or overhauling their website. They feel like they have something to say, they just don’t know how to say it, or need strong images to make it meaningful.
That’s where we come in. Our experience will help identify the message and create a powerful campaign to convey that persuasively to the marketplace. The brand we create often becomes the de facto strategic plan for the firm, identifying who they are, their unique selling proposition, and the audiences to convey that to.
When you’re ready to take your firm up to the next level, it’s time to call Fishman Marketing.