2009 Year in Review - Business Development Trends in Law Firms©

Overall, in the global economy and within the legal industry, investment is no longer at a stand-still as it was earlier this year. But to keep their houses in order, many law firms have made and are continuing to make significant cut-backs, changes and upgrades in the manner and methods by which they are investing in business development. Some key trends in 2009 and into 2010:

1. The year-end collection process gets more challenging as firms experience reductions in the total percentage of receivables collected at 100% realization/standard rates.


2. Competition is at an all-time high, causing attorneys to change their thinking, mind-set and habits.


3. Upgrades to traditional marketing efforts/support -
   
   
   • Investments are tightening up in the traditionally most-utilized marketing tools.
   
   
   • Train-the-trainer, train-the-coach and train-the-leader programs are being commissioned for lawyers and staff.
   
   
   • Business/client development and/or "sales" pipelines are being employed to a greater degree.

To read the entire article, please visit: www.BusDevInc.com > Complimentary Resources > Trend Reports