Last week I was invited to take part in a panel debate chaired by Professor Stephen Mayson at a conference entitled Key Strategies for Law Firms. Alongside me on the panel were Quality Solicitors, Russell Jones and Walker and Blakemores. The subject was Collective Marketing vs Single Firm Brand Identity. I also ran a workshop with the hypothesis that "A sustainable legal brand can be achieved through collective marketing".
My view on these topics is pretty unsurprising. Of course, I think it is possible for law firms to achieve sustainability or, more importantly, profitability through collective marketing. However, it won't work for everyone. Sharing resources purely for the hope of reducing costs does not necesarily mean that the outcome will be effective for the participants.
The most successful examples of collective marketing producing measurable and solid results for those participating have a common feature; an easily identifiable product or service aimed at the consumer. One brand that has succesfully acheived this is Interflora. There are also a number of examples in the hotel and travel industry, opticians and retail. In Interflora's case the consumer knows the quality and service that they can expect by using an Interflora endorsed florist. How that florist is run and who owns it does not matter greatly to the consumer. Provided the florist adheres to the accepted service level the consumer's faith in the brand remains.
Using this model for legal services is more complicated but certainly achievable. The key to successful collective marketing is ensuring that the message to the consumer is clear and consistent. The consumer of a legal product such as a simple will or conveyancing wants a fixed price, an experienced lawyer, good value for money and clear communication. Variations in price, methods of delivery or service are dangerous when consumers have all the tools that they need to compare providers and shop around. Marketing these key features of products collectively and keeping things simple will ensure that it is not only possible but profitable for firms to benefit from collective marketing.
I said much more about this at the conference and will I am sure be saying lots more about it here too!!
All the best
Gary
My view on these topics is pretty unsurprising. Of course, I think it is possible for law firms to achieve sustainability or, more importantly, profitability through collective marketing. However, it won't work for everyone. Sharing resources purely for the hope of reducing costs does not necesarily mean that the outcome will be effective for the participants.
The most successful examples of collective marketing producing measurable and solid results for those participating have a common feature; an easily identifiable product or service aimed at the consumer. One brand that has succesfully acheived this is Interflora. There are also a number of examples in the hotel and travel industry, opticians and retail. In Interflora's case the consumer knows the quality and service that they can expect by using an Interflora endorsed florist. How that florist is run and who owns it does not matter greatly to the consumer. Provided the florist adheres to the accepted service level the consumer's faith in the brand remains.
Using this model for legal services is more complicated but certainly achievable. The key to successful collective marketing is ensuring that the message to the consumer is clear and consistent. The consumer of a legal product such as a simple will or conveyancing wants a fixed price, an experienced lawyer, good value for money and clear communication. Variations in price, methods of delivery or service are dangerous when consumers have all the tools that they need to compare providers and shop around. Marketing these key features of products collectively and keeping things simple will ensure that it is not only possible but profitable for firms to benefit from collective marketing.
I said much more about this at the conference and will I am sure be saying lots more about it here too!!
All the best
Gary
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