LVS Law Firm Performance Index Released
June 12 _ Legal Vertical Strategies announced today the release of the LVS Law Firm Performance Index, a strategic assessment tool to help law firms objectively evaluate their competitive position in the market so they can make sound decisions about how to grow their businesses.
The LVS Law Firm Performance Index™ provides insight into three external drivers:
- The trends that generate or limit demand for specific types of legal services.
- The needs and decision-making process of potential buyers in a given market.
- The landscape of lawyers competing for the same clients.
“This report details the economic, industry and regulatory trends that drive demand for legal services and explores the different ways companies make decisions about how to hire lawyers,” said Debra Baker, author of the report and chair of the LVS Law Firm Services Group. “Armed with this knowledge, law firms can develop and execute strategies based on objective rather than subjective evidence, reducing risks and increasing returns.”
- Strengthen and expand existing client relationships by understanding the trends, needs and drivers that impact their businesses.
- Define and better communicate strengths and differentiators.
- Streamline business development activities around prospective clients where there is a higher likelihood of success.
- Align external facing business activities with internal goals around talent management, operational efficiency and profitability.
The report is available exclusively through Legal Vertical Strategies.