Clients Demand Value, Not Time: How to Position Your Firm in the Age of AFAs (Litera)

Domains: Business of Law, Marketing Management & Leadership

In our recent survey of over 300 decision makers at law firms globally, we found that the use of Alternative Fee Arrangements (AFAs) continues to rise and in some cases now makes up nearly half of their work. So, what does this mean for marketers?

Crucially, the increasing prevalence of AFAs is a result of clients’ demands for value, rather than time. For firms to compete effectively as this trend continues, they need to ensure clients correctly perceive them as aligned with their value-based goals and differentiate themselves through demonstrating highly specific expertise and experience. For many firms this may require a change in approach, both in how they respond to clients, and how they collaborate internally. Join us for this session in which we’ll present our survey findings, discuss what it means to marketers, and how to stay ahead of the competition.

You'll learn how to:

• Discuss how the findings from our survey of over 300 law firm decision makers highlight that the competition is changing and why demonstrating value has never been more important
• Identify how you can breakdown silos: The persistence of AFAs forces firms and their marketers to realize that they are not isolated, and the client will be evaluating all aspects of your proposal
• Discuss how to clearly articulate value for your clients and differentiate yourselves: What is your firm bringing to the table? 

Presenters:
Barry Solomon, VP, M&A Integrations, Litera
Ashley Gibbs, Director, Product Value Engineers, Litera