Constant Content : Legal Ghostwriting & Content : Janet Raasch : Copy for Lawyers & Attorneys, Law Firm Business Development

Th gathering and analysis of competitive intelligence -- about companies, other law firms and individuals -- helps lawyers and law firms make important decisions.  This article, written by Janet Ellen Raasch, summarizes a presentation by Wanda McDavid and Judy Goater of Access Information, a Denver-based firm that provides competitive intelligence for law firms across the country.  This is part three of a four-part article.  For the complete article, see link below.

When preparing to meet with a potential client, lawyers often ask marketers or librarians to prepare a profile of the client.  “All too often,” said McDavid, “this is done just a few hours before the scheduled meeting – and we need to scramble.

“Even with very little lead time, you would be surprised at how much information you can turn up by simply visiting and mining the potential client’s website,” said McDavid.  “You should also search company or firm pages on social media sites.”

When you have a little more lead time to prepare – like for a proposal or the resulting beauty contest – then you can delve more deeply into client background.  Good sources for public companies include SEC filings.  Good sources for private companies include Dun and Bradstreet reports.

A good profile addresses some or all (depending on your time and research skills) of these categories:

n      Quick facts

n      Company overview

n      Business segments

n      Products/services

n      Business partners

n      Board of Directors

n      Key executives

n      Key developments

n      Representative clients

n      Legal issues and litigation

n      Locations

n      Case studies

n      Patent information

n      Marketing strategy

n      Competitors

n      Sources

n      News articles

Armed with this type of information, your lawyers and law firm are well-prepared to make good decisions about how to approach a potential client (or anyone else), and how to make a good impression once the contact takes place.

Competitive intelligence an essential component of better law firm decision-making

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The gathering and analysis of competitive itelligence -- about companies, other law firms and individuals -- helps lawyers and law firms make important decisions.  This article, written by Janet Ellen Raasch, summarizes a presentation by Wanda McDavid and Judy Goater of Access Information, a Denver-based firm that provides competitive intelligence for law firms across the country.  This is part two of a four-part article.  For the complete article, see link below.

Some sources of competitive intelligence about companies, competitors and adversaries are paid and some are free to the public.  Because of the nature of their work, many law firms and law librarians already have access to many of the paid recourses.  These include products offered by industry giants LexisNexis and Thomson West.

“For industry research, I also like to use a product called Profound, offered by MarketReserch.com,” said McDavid.  “They offer a wide range of reports for purchase.  An entire report can be costly but, if you know exactly what you are looking for, you can order just part of a report for a lesser fee.

“And don’t forget,” said McDavid.  “Many of these paid resources are available for you to use free of charge at the Denver Public Library.”

Free resources for company research include www.llrx.com and Zimmerman’s Research Guide (http://law.lexisnexis.com/infopro/zimmermans).  In its database, Zimmerman’s offers links to both company information and company personnel.  “Both of these sites are great places to start if you are trying to get an overview of the kind of research that is out there,” said McDavid.

The Virtual Chase product by Justia.com offers business research as well as county and municipal law resources.  Information on companies can be found at Hoovers, Yahoo! Finance, Google Finance, Nexis company information and Valuation Resources.com.

“A lot of good research is available from Google,” said McDavid.  “We all know how to do a Google search, but much more refined searches and results are available via the Google Advanced General Search Page.  Google Scholar and Google Advanced Scholar Search offer useful results that have been ‘purged’ of casual hits.”

Court and government sites – especially the Secretary of State’s office -- include public records and a wealth of useful information.  “If you want to know where a company is headed,” said McDavid, “check the U.S. Patent and Trademark Office Database.”

Competitive intelligence an essential component of better law firm decision-making

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Important law firm decisions should never be made in a vacuum.  Instead, they should be made with an abundance of the right information in hand.  For many law firm decisions, “the right information” means competitive intelligence.

Competitive intelligence is defined as a systematic and ethical program for gathering, analyzing and managing information about the external business environment – information that can affect all of a law firm’s plans, decisions and operations.

Competitive intelligence can be information about organizations – like your clients, potential clients and adversaries.  It can be information about other law firms – like collaborators, opposing counsel or even potential merger partners.  It can be information about the legal needs in particular industries or markets.

Competitive intelligence can also be information about people – like the people you will meet in a pitch, in the boardroom, in the courtroom (like opposing counsel or an expert witness) or in a hiring interview.

In any of these settings, knowledge of companies and people is power.

“When gathering competitive intelligence, there is a wrong way and a right way to go about it,” said Wanda McDavid.  “The wrong way is typified by computer hackers like Lisbeth Salander in The Girl with the Dragon Tattoo.  As much as we enjoy the book and the movie, and want Lisbeth to succeed, we cannot condone her tactics.  This kind of corporate espionage makes for good entertainment, but bad – and unethical – business.

“The ethical gathering of competitive intelligence complies with all applicable laws – domestic as well as international,” said McDavid.  “It is obtained from legitimate online and print sources, in both public and subscription databases.  When obtained by interviews (either with targeted competitor staff and customers or as general field research), the ethical interviewer discloses up front both her identity and the purpose of the interview.”

McDavid and her colleague Judy Goater discussed the ethical gathering and use of competitive intelligence by law firms at the monthly educational program of the Rocky Mountain Chapter of the Legal Marketing Association (www.legalmarketing.com/rockymountain).  The program was held Jan. 10 at Maggiano’s Little Italy in downtown Denver.

McDavid is president and Goater is director of services development at Access Information (www.access-information.com), a Denver-based firm that specializes in the discovery and compilation of competitive intelligence for use by law firms.  Both have master’s degrees in librarianship and vast experience in the legal industry.  The PowerPoint slides from this presentation have been made available on the company website, in the “training” section. 

“Before starting any competitive research project,” said McDavid, “it is essential that you have a plan.  Thanks to the Internet, there are an almost unlimited number of resources out there.  You can waste a lot of time and money searching them all.  If we know your goals for a particular research project, we can help you concentrate your resources on the most likely, valid and reliable sources for your purpose.”

This is party one of a four-part article.  For the complete article, see

Competitive intelligence an essential component of better law firm decision-making

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This is part four of a four-part article.  For complete article, see link below.

“Web analytics programs are capable of generating a vast amount of information,” said Casey.  “There are far too many metrics for users to process and interpret.  Measurement tools are only useful when there is something specific to measure.

“The challenge is not to get more data, which can needlessly complicate your decision-making,” said Casey, “but to get better data.  Be strategic.  What is the purpose of this online content campaign (within the context of our business goals), and which select measurements will indicate progress towards achieving this goal?”

Let’s go back to that article on patent reform.  You post it on your website.  You reference it in your blog.  You e-mail it to clients, potential clients, referral sources and media sources.  You post it (with links back to your site) on a variety of social media sites and content syndication sites.

On your website, analytics will let you know who visited the page and how they got there.  In addition, you will discover if they stayed a while, read the article and downloaded a copy.

“If no one comes or if visitors take a quick look and ‘bounce,’ you know that there is something wrong with the content,” said Casey.  “The subject is not newsworthy.  The headline or keywords need work.  The article is too long or too short.  It is too dense and needs shorter lines and subheads, to encourage skimming.  It is too casual or too filled with legal jargon.  In other words, it needs work.”

An e-mail analytics program will let you know who opens the e-mail and clicks on the link.  Other analytics programs will indicate how your article fares in the blogosphere or is shared or re-tweeted on social media and content syndication sites. 

The information generated by web analytics is a valuable tool to help lawyers and law firms plan -- and continuously improve -- their content and their online content distribution campaigns.

Content marketing and web analytics: The yin and yang of any successful law firm marketing campaign

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This is part three of a four-part article.  For complete article, see link below.

“Not only does the Internet facilitate the wide distribution of content,” said Casey, “it also allows lawyers and law firms to closely track distribution – to know how many visitors click on the content; how much time they spend reading, listening or viewing the content; and where (your website, search or some other site) they found the content.”

Web analytics is a process for collecting visitor or consumer data, analyzing those data and generating reports on the overall performance of these different channels.  It extends well beyond your website into virtually every online channel your law firm might be using.

“In the early days, web analytics programs focused on the simple measurement of activity on a law firm’s web site,” said Casey.  “Today, a good law firm website still contains useful information about the firm and its services, but the site functions more like an interactive hub to which all of the firm’s online content distribution efforts are tied.”

In addition, most social media sites have their own built-in analytics programs that can be accessed for more details about activity on your accounts on those sites.

The popular Google Analytics program is free and yields information about site visitors, including number of visitors (unique, new and repeat), page views, repeat rate, visit length, page view length, page view per visit, bounce rate (those who leave quickly from a given page), entry pages (where visitors enter you site), exit pages (where visitors leave your site) and referral sources (direct traffic, search engines and other referral sites).

Among other things, Google Analytics can chart data over time, compare data month-by-month or year-by-year, and internally compare different sets of results.

“Other commercial web analytics programs allow the site administrator to ‘dig deeper’ into the data,” said Casey.  “Most analytics programs will record detailed information at the user level, allowing administrators to track the number of times a given user came to the site, which pages he or she viewed and, in some cases, the location from which that user is connecting.”

“At Tenrec, we combine basic Google Analytics with a program called Urchin (essentially, Google’s commercial analytics product) to obtain different levels of results for our clients,” said Casey.  “There are many programs out there.  The one you select should be determined by how you plan to use the results.”

It is important to remember that no performance metric is inherently bad or good.  A limited number of the right kind of people visiting your content and reaching out to your firm is a better result than hundreds of visitors who take no action.

Content marketing and web analytics: The yin and yang of any successful law firm marketing campaign

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This is part two of a four-part article.  For a link to the complete article, see below.

Online content marketing involves publishing content (like the article on patent law) on your law firm’s website (including mobile website version), client extranet sites or blogs.  It involves the e-mailing of your article (or newsletter) to clients, potential clients, referral sources and media sources.

“An integrated online marketing program is an essential part of a law firm’s marketing program,” said Casey.  “Content marketing involves distribution of your content using popular social media sites (like LinkedIn, Facebook, Twitter and YouTube) as well as successful content syndication sites (like JD Supra, LegalOnRamp and Scribd).”

Each time your keyword-rich patent law article is published on one of these sites, it is indexed by Google and other search engines – enhancing results for searches on terms like your name, your law firm’s name, your geographic area and the relevant subject area.

“The term ‘content’ applies to almost any kind of material your firm is publishing,” said Casey.  “It applies to documents like press releases, experience descriptions, attorney biographies (profiles), client alerts, blog post, white papers, email campaigns and e-books on legal subjects.

“Content also includes non-written files, like an online ad campaign, courtroom graphics, a PowerPoint deck, or photos of an open house or employee charity event,” said Casey.  “It includes online surveys along with survey results.  And it definitely includes audio or video recordings of a presentation, a seminar or a webinar.”

All types of reputation-demonstrating content can be posted not only on your own website, but also to a wide range of (mostly free) social media and content syndication sites.  Once posted, this informative content is available 24/7 and around the world.

Content marketing and web analytics: The yin and yang of any successful law firm marketing campaign

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Good content has always been one of the best ways for a lawyer to establish and maintain a professional reputation.  In the hands of potential clients, good content demonstrates your understanding of the law and your ability to do what you claim to do.

Let’s say you write an excellent article on the recently signed patent reform act.

Prior to the Internet, your options for distribution of that article would be limited.  You could submit it to print publishers who could decide whether or not to publish it and how to edit it.  By the time it appeared on a client’s desk, it might be three months out of date.

In addition, you could snail mail a copy of your article with a cover letter directly to your list of clients, potential clients and referral sources.  You could include it in the firm’s print newsletter. You could mail it to reporters covering the patent law beat and hope that they give you a call next time they are writing a story on that topic.

And that was about it.  You really had no way of knowing what happened to that hard copy – if the publication was read or if the envelope or newsletter was even opened.

Today, thanks to the Internet, the options for distributing a well-written and informative article (and all kinds of content) to a wide range of interested parties are vastly expanded.  So, too, are the options for finding out if the article was opened, was read and prompted further action on the part of the reader.

“In the Internet age, online content marketing is the best way for lawyers and law firms to establish their reputations and attract new business,” said Per Casey.  “And web traffic analysis is the best way for lawyers and law firms to measure the success of a content marketing campaign and move forward based on that information.  Content marketing and web analytics are inseparable parts of the same strategic process.”

Casey discussed strategic content marketing and web analytics at the monthly educational program of the Rocky Mountain Chapter of the Legal Marketing Association, held Oct. 11 at Fogo de Chao Restaurant in Lower Downtown Denver.

Casey is founder of Tenrec, a web technology consulting firm that focuses on the legal industry.  Over the years, he has collaborated with dozens of well-known law firms on successful web technology projects.  Casey also serves as member-at-large on the LMA International Board of Directors and as co-chair of the LMA Technology Committee.

This is part one of a four-part article.  For the entire article, see:

Content marketing and web analytics: The yin and yang of any successful law firm marketing campaign.

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Good internal communication is one of the best ways to move employees out of the middle and into the “high engagement” zone.

“Internal communication is evolving,” said Wegscheid, “with the balance shifting from a model weighted by formality and control towards a model that facilitates employee engagement. Few organizations fall squarely into one of these four models.”

The inner circle model has the highest level of formality/control and the lowest level of employee engagement.  Executives confer behind closed doors with no employee input.  Information travels through formal channels from the top down to managers, who tell employees what to do – but not why.  “Most, but not all, organizations have moved beyond this model,” said Wegscheid.

The cascade model is still quite controlled, but has a little more employment engagement.  Decisions are made at the top and information flows from the top down, but managers are expected to share some information with their teams.

In the dialogue model, decisions and information still flow from the top – but are often accompanied by an invitation to ask questions.  Feedback is limited to topics raised by leadership.  The process is formal, but two-way, with the goal of making sure employees understand the information that was communicated.

“Most organizations, including law firms, currently operate at the cascade level and perhaps at the dialogue level,” said Wegscheid.

The community model combines the highest levels of employee engagement with informality and freedom of expression.  “This model shares a mindset with social media,” said Wegscheid.  “Knowledge is not controlled at the top, but contributed by and commented on by all participants in a network.  Everyone has something to contribute.”

In the community model, leadership is still needed but messages can be initiated by anyone, encouraging the free flow of information throughout an organization.  In this model, individuals feel comfortable sharing expertise and learning from each other, which results in spontaneous collaboration by employees at all levels to solve a problem, rather than formal teams composed only of executives.  Employees as well as owners feel invested in the results.

“Because of sensitive information, proprietary relationships and a billable hour model that does not reward efficiency, the community model can be challenging for law firms,” said Wegscheid.  “However, there are elements of this model that can be incorporated.

Engaged employees are those who understand and believe in a law firm’s message.  This message can be created at the top and then delivered formally to employees (a low-engagement model).  Conversely, it can be created collaboratively (with facilitation by firm leaders) and made part of an ongoing conversation among employees (a high-engagement model).  Or it can be somewhere in between.

“The important thing,” said Wegscheid, “is to understand the value of employee engagement and actively consider which steps your firm can take to improve it – and consequently improve the firm’s bottom line.”

This is part three of a three-part article.  For the entire article, see Truly engaged employees lead to highly successful law firms.

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Modern research organizations use rigorous science to assess levels of employee engagement and link engagement to performance.

In 2009, Hewitt discovered that businesses with highly engaged employees have total shareholder return 19 percent higher than firms with average engagement.

According to a study of a large professional services firm by the Hay Group, the firm’s five most-engaged regional offices generated 43 percent more revenue per consultant (think lawyer) than the firm’s five least-engaged offices.

“According to Colorado Bar Association statistics,” said Wegscheid, “the average attorney has $446,500 in billable per year.  A 43 percent increase adds an additional $191,995 to this amount, for a total of $638,495 per lawyer.  That translates into $1.9 million extra for a firm of 10 attorneys, $3.8 million for 20 attorneys and $5.8 million for 30 attorneys.  This is a lot of money.”

Research clearly demonstrates that the more engaged your employees, the better your revenue, productivity, earnings, shareholder returns, employee retention and customer loyalty.

According to Gallup, about 16 percent of employees at any business are actively disengaged.  “Some call these people ‘CAVE dwellers,’ for ‘consistently against virtually everything,’” said Wegscheid.  “They will actively try to destroy your organization.

“An additional 29 percent truly believe in your business and are actively engaged in making it succeed,” said Wegscheid.  “That leaves the majority of your employees -- approximately 55 percent -- who are neither disengaged nor engaged.  Smart businesses focus on transforming these ‘neutrals’ into highly engaged employees.”

This is part two of a three-part article.  For entire article, see Truly engaged employees lead to highly successful law firms.

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