Juan Martín Fierro: “Law firms’ communication today is much more open than before: thay inform about gender equality policies, corporate social responsibility, diversity and care for the environment”
Why has law firm communication changed, and why do lawyers now have no problem disclosing the names of their clients and successful transactions? Our partner in Colombia, Juan Martín Fierro, answers these questions in his latest article published by Ámbito Jurídico.
Some of the firms with the highest billings worldwide, such as Baker McKenzie, Dentons, DLA Piper, Kirkland & Ellis LLP and Latham & Watkins, have radically changed the way they communicate with their readers, and now highlight transactions carried out by the firm in external communications, corporate website and social networks. Large Latin American firms have also begun to implement this method of public disclosure. But why?
Change in law firms communications
In the words of our partner, “it is worth remembering that the relationship between firms and clients took a radical turn in the last 15 years and went from being a hierarchical relationship, with the firms at the head, to a much more horizontal relationship in which the client becomes the main protagonist. This has involved them more actively in the reputational aspects of the firms, not as a simple contractor of services, but as an ally with whom relationships of trust are being built”.
But not only that. Prestigious international directories, such as Chambers and Partners, Legal 500, Latin Lawyer or Transactional Track Record, among others, have also become protagonists of this change. In recent years, they have allowed firms to publish their most important transactions, through articles, newsletters or press releases, as well as referencing them in their publications. “Also, the hyper-specialisation that characterises the legal sector means that communicating successful transactions differentiates them from the competition through two very powerful messages: client satisfaction and brand reputation. A client who is unhappy with the service provided by the firm will not accept any kind of advertising. But if he accepts it, he validates the firm’s expertise with the prestige of its brand,” Fierro adds.
A third point accompanies the previous ones; in this case, the support of clients is also considered important for this new change in the communication of law firms. “Their vote of confidence is decisive when it comes to communicating results in terms of positioning and reputation,” he says. However, special care must be taken with what is communicated, as “it is a vote subject to very strict rules regarding confidentiality, handling of sensitive information and use of corporate image”. If you do not want to lose a client because you have made use of inaccurate or unauthorised communication, you should consult them beforehand about the content.
Innovative communications
Today, law firms “are more open to communicate what they did not communicate before, such as their policies on gender equality, corporate social responsibility, diversity and environmental care. Relevant transactional information could not be left behind and has become an attractive source of news for the media and a constant reference for clients and competitors at the market level. From the point of view of innovation, it is a sign of the professionalism that the legal sector has achieved in the field of strategic communication in recent years,” concludes Fierro.
Gericó Associates is the leading legal Marketing, legal Communications and Business Development consulting firm in Europe and Latin America. If you need advice for your law firm, please contact us by clicking here.
