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With corporate in-house counsel under the gun to cut costs, now is the best time in decades for small law firms to win big clients.

But firms have to be savvy and opportunistic in their efforts.

“The sophisticated corporations, the large corporate clients have been looking for expertise where they can find it,” said Gerry Riskin, law firm consultant and co-founder of Edge International. “Some years ago, we saw them depart from the presumption that expertise had to reside in a big firm.”

“Small and mid-size firms have a tremendous opportunity to target companies where they are not just talking about being cost-sensitive, but making decisions to consider smaller, more reasonably priced law firms,” agreed Ross Fishman, head of Fishman Marketing in Highland Park, Ill.

Kevin Chern, president of Total Attorneys, a Chicago-based practice/technology firm that works with small law firms, said it’s critical for small firms to show they have the infrastructure to support large clients.

In the past, small firms were limited in their ability to conduct large amounts of discovery. But thanks to advances in digital discovery and the acceptance of legal outsourcing, even small firms can handle discovery for large clients.

“Technology is a huge plus, for instance, if you want to represent a big corporate client, but you are a one, two- or three-person law firm,” Chern said.

Small firms can also take advantage of low-cost human resources options, such as “virtual assistants” to answer phones.

“By using technology and more progressive forms of human resources – that have traditionally been unavailable – [small firms] can have the infrastructure that before would have been cost-prohibitive,” Chern noted.

‘Practice broadly, market narrowly’

Small firms competing in the corporate legal arena need to provide a particular expertise or service.

“Look for differentiating factors,” advised Ellen Freedman, law practice management coordinator for the Pennsylvania Bar Association and a practice management consultant.

“Too many attorneys try too hard to blend in, instead of determining how to stand out from the crowd,” she said. “All attorneys claim responsiveness and skill. And low price never engenders any long-term client loyalty.  It lasts only until the next attorney undercuts your hourly rate.”

However, “If you can demonstrate a superior service mentality, superior industry savvy, superior personal service, one can land the big client and even garner a premium rate.”

Fishman encourages solos and small firms to target specific industries.

“You need to identify the kind of work you’ve done, the industries where you have some experience – whether through client representations, a job you held before law school or the family business you grew up in – what hobbies you have, what is sitting on your credenza or hanging on your wall that indicates an interest or expertise other lawyers don’t have,” he explained.

For example, several years ago, Fishman helped Noland, Hamerly, Etienne & Hoss, an 18-lawyer firm located in the Salinas Valley in California, design a marketing campaign aimed at the local agricultural industry.

Fishman created a website using amusing ads (including one with lawyers dressed in the “American Gothic” pose), put the firm logo on seed packets to use as business cards and directed marketing efforts aimed at creating a buzz among growers and suppliers.

The firm retained its main website and continued to practice a wide range of personal and business law. But the “lettuce law” marketing effort helped establish the firm as the leading agricultural law firm in Salinas Valley and Monterey County, Calif.

“Industry based marketing is actually much easier than any other kind of marketing,” Fishman explained.

Industry groups have trade association meetings and magazines, which present opportunities for networking and inexpensive advertising.

“Most lawyers are marketing to America; it’s not efficient,” he said. “In this economy, if you want to be the market leader in something, this is the way to do it very quickly and effectively. You can practice broadly, but market narrowly.”

Closing the deal

Once you’ve generated interest from a large client, follow up with a meeting, Riskin advised.

“Too many lawyers will leave a discussion with ‘Let’s do lunch sometime,’” he said.

Instead, offer to take a preliminary look at the specific legal issues the potential client is facing and then provide suggestions and cost estimates.

“If you think you have something to offer that would be of benefit to these larger companies, get off your chair and get in the face of somebody over at that company and have that discussion,” Riskin said.

While you may not end up having lunch with the general counsel, chances are good you’ll at least talk with someone in the legal group whose specialty is related to yours.

And don’t be afraid to ask what a potential corporate client is looking for in outside counsel, Chern advised.

Maybe the client wants to pay a fixed amount of money each month, or is seeking lots of handholding. The only way to know is to ask.

“You can’t presume what is going to be most important to the client,” Chern said. “By asking them, it creates an impression of openness. Now when you lay your your terms of representation, you can specifically represent what is important to them.”

Questions or comments can be directed to the writer at: nora.tooher@lawyersusaonline.com

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