Cultivating (another firm’s) clients

April 26th, 2012 by Altman Weil

How can a law firm that wants new business displace a competent incumbent firm?”  Aon VP and Chief Counsel and Above the Law blogger, Mark Herrmann posed this question to a panel of GCs recently. 

The answer is you need some luck.  He and his colleagues concluded that although there are circumstances when it can happen (he describes a few likely scenarios), they are outside of the control of an aspiring law firm.  But don’t despair.  Here’s his excellent conclusion:

“Consider what this means for law firms in the on-deck position — firms that are not currently doing business for a company, but would be at the top of the list if the incumbent flubbed something, lacked capacity, or saw a key lawyer leave. If you’re looking for a sweet spot, that may be it. Make contact with an in-house lawyer; stay gently in touch over time, forwarding items of (actual) interest perhaps once a month; and make sure the in-house lawyer remembers your name and area of expertise. When an event outside of your control occurs, you want your name to be at the top of the list of possible replacement firms.

The on-deck circle is an important place to be. Spend your time there intelligently.”

Read it at Above the Law

This entry was posted on Thursday, April 26th, 2012 at 2:04 pm and is filed under Inside-Outside relationship, Law firm marketing. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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