Last week, Lisa Hart Shepherd, CEO at Acritas, interviewed Tony Harrington AM, Chief Executive at MinterEllison about the firm's impressive rise in the 2016 Acritas Asia Pacific Law Firm Brand Index. She also took the opportunity to find out a little more about the firm's growth strategy and the challenges it faces in such a culturally diverse region.
By Jo Aitken, July 1, 2016
Yesterday we revealed Acritas’ third annual Asia Pacific Law Firm Brand Index, via webcast.
On Wednesday April 13, 2016, our Vice President Lizzy Duffy led a panel of leading voices from in-house to learn how value is defined by clients, how they are measuring it and how law firms should be responding.
This was not your typical GC panel – first of all, not all of our panellists were GCs.
This was intentional on our part as it reflects the evolution of the legal department we have witnessed over the last decade.
Yesterday was a very big day for us at Acritas. It was the day we shared publically for the very first time new insight on gender and diversity in law – specifically how gender can influence buying behaviors and how a diverse team leads to a better performance.
This year is the first year that we have included questions in our annual Sharplegal study that have allowed us to:
We ask how diverse the team is that clients work with after they have given the rating so there is no impact or bias on the results given. And we are seeing big differences in the results across all KPIs.
When looking just at the data of the very diverse versus not diverse at all, the significant differences (at this stage) are on strength of relationships, charging a fair price for the value delivered and on likelihood to recommend.
Truly global footprints, aligned value propositions and strong leadership are driving success for the world’s leading legal brands
Over the last six years, the global legal market has seen many changes. The global recession may have kick-started the process, but clients are keeping it moving. As part of our annual global survey of over 2,300 general counsel, we have been tracking how legal buyers select their firms and analyzing the firms winning – and losing – brand equity.
On Wednesday May 20, Acritas’ UK Law Firm Brand Index 2015 will be revealed. But we are often asked ‘what is the purpose and value of measuring brand amongst law firms?’, so we thought it would be worth sharing a little reminder.
In legal markets which are still crowded and fragmented, the only way to grow market share is to stand out.
The importance of brand may only just be dawning on some law firms but for the largest firms operating on a global scale, brand strength is already central to their success.
Acritas research consistently shows that a collaborative approach to building client relationships is one of the most potent factors powering professional services firm growth across the world. Through extensive interviews with senior members of professional services firms, we have compiled these proven techniques for building – and eroding – client relationships.
In our final ‘Close to Client’ blog, Andrew Magowan, General Counsel & Company Secretary of global online fashion retailer ASOS, reveals how laziness kills relationships.
Look out for our new blog series inspired by clients’ calls for value and innovation – launching in the Autumn.