$700 Billion Rescue Plan Lends Prime Legal Marketing Opportunities
One silver lining amid the doom and gloom of the current economy is that the $700 billion injection from the federal government promises to keep some law firms very busy. That in turn can spur new marketing initiatives that a firm can use to gain new clients, or PR hits that it can leverage from new projects. For example, working groups of litigators, legislative experts, restructuring and deal lawyers are being formed to address new legal needs and comment on related news stories. Has your firm found a way to shape a marketing or PR initiative from the rescue plan?
Comments
One of my clients recently created a Financial Markets Group to offer dispute resolution services for litigation that arises from the credit crisis. It’s a timely and in-demand service, and we definitely took steps to promote its availability. Being proactive with law firm and PR marketing is especially important right now, and just like buying in a down market, there is much to be gained.
I actually work with two law firms that have responded well to the EESA by establishing advisory groups to offer clients with a comprehensive offering of services related to the economic crisis. Some law firms have been criticized by national media as using the Bailout Bill as an opportunity to exploit their services and that the creation of such groups is simply a marketing tactic. I disagree, however, and believe that firms are recognizing what their clients need during this particularly volatile and anxious time. Further, the attorneys who proactively put themselves out there to be available to discuss these issues - even though they are uncertain and complex - are being regularly sought after by the media.