Diana Jennen: “The differences that used to separate law firms from other firms will gradually disappear to the point of practical extinction, in favour of business strategy”
The legal sector is evolving faster than ever in recent years thanks to a greater awareness among lawyers of the direct business benefits of personalised Marketing, Communications, and Business Development strategies, according to Diana Jennen, our partner and director of Communications and Business Development, in her article published in Cinco Días.
“The big law firms in Spain, such as Allen & Overy, Garrigues or Baker McKenzie, among others, are happy to share their involvement in major transactions, as well as their inclusion in the annual rankings published by some media on who advises on major transactions,” she explains.
On the other hand, she assures that large clients such as Banco Santander or CaixaBank also follow the same trend as the big firms: “In the same way, clients make public the advice received, even in sensitive matters in terms of reputation, such as a labour restructuring or an insolvency”.
This has established a new trend in the legal industry to “publicly expose clients and transactions in great detail,” says Jennen.
This new trend contrasts with the hermeticism that used to exist in the legal profession, where communication with the outside world was practically non-existent.
“Lawyers have internalised that it is not enough to be and to do: we must communicate what we are and what we do”.
As she explains, legal services today incorporate business strategy departments and transfer the management and direction of the firm to decision-makers with a business profile. This fact favours the progressive transformation of the corporate culture and mentality of the legal profession.
In her opinion, lawyers have realised that the professional network LinkedIn can serve as their main tool for attracting business, especially given the high level of competition in the sector today. She also points out that lawyers know the importance of transmitting strength and confidence, for which it is a good strategy to communicate their success stories.
“The combination of internal and external communication, marketing and business development departments in the most established firms is the most enriching option when it comes to presenting solutions”
The partner and Communications and Business Development director of Gericó Associates says that when a firm grows, the best thing to do is to gradually incorporate internal talent that knows the structure, team and needs of the firm in depth. However, it is important to continue to rely on external support in certain strategic areas, as this provides a greater global perspective, as well as greater objectivity and credibility in the eyes of external audiences.
Based on her experience in the Communications department of one of the largest national firms and her current performance in our firm, Jennen affirms that the external consultant must become a true strategic partner of the firm and, to do so, make the objectives and challenges of his collaborators his own.
If you want to read the full interview in Cinco Días, click here.
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Gerico Associates is the first legal marketing, communications and business development consultancy for law firms in Europe and Latin America. If you need advice for your law firm, please contact us.
