Fans of the Terminator movies may recall Miles Dyson. Like his real life namesake, Dyson is a passionate genius. But instead of vacuum cleaners, the fictional Dyson’s passion is developing technologies that will enable computers to learn, develop and communicate with one another at an exponential rate – his brainchild becomes SkyNet – a monster which, instead of serving humans, decides to eliminate them altogether.
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.
Everyone knows that intense competition in the legal market is radically altering client/law firm relationships and that pressure on in-house counsel to become ever-more commercially minded and offer business-ready advice is altering what they need and expect of their law firms. So what does it mean to meet these value expectations to clients and how can this foster firm growth?
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.
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.
According to Acritas' Sharplegal research 2013,49% of senior legal buyers say that being close to their firm is the reason they remain loyal and 47% also mention 'close to client' factors when asked why they favor a particular firm.
In order to understand this data further, we invited law firms to our live GC Panel Question Time event in London on April 29, 2014 and streamed the discussion around the world so that as many people as possible got tolisten to the client's views.