I read the most amazing statistic recently. Apparently, 93% of law firms are either considering, in the process of, or have recently rebranded. 93%. I’m not a mathematician, but that’s nearly everybody.
I am a strong believer in the power of branding. While I think it is great that firms are having these discussions and are taking an active role in the marketing of their practices, I do not believe that 93% of firms should be re-branding. Nor do I think that this is something that should happen once every three years. Re-branding is not simply changing the font on your business cards or the color of your website. It is a top to bottom experience. Rebranding means changing the culture of your firm. It means addressing how staff interacts with clients. It means rethinking the decor of your office, the type of law you practice. It means making sure you have the necessary skill set to attract a new kind of business and deliver the services they will expect. It also means sticking with the new branding long enough for the public to recognize and process the change.
This is not an attempt to talk marketers and business development types out of jobs. Nor do I want to talk attorneys out of re-branding if it is in fact needed. I simply believe that there are natural, highly effective times in the life of a firm to start a rebranding campaign. Let’s take a look at a few of them:
1. Shift in law firm structure or management.
Has there been a major change to the fabric of your firm? This could include everything from a merger to a named partner leaving the company. If something happened that is fundamental enough to change the name of your practice, that would be a perfect time for a rebranding campaign.
2. Change in Practice Area
Is your firm changing or adding a major new practice area? For example, if your company is shifting from insurance defense to business litigation, then it might be time to rebrand.
3. Old Brand Has Become Stale
If this is the case at your firm, don’t worry. It happens all the time. You find something that works and you get comfortable. While I am as big a fan of the Scales of Justice and Roman Columns as anyone, in today’s market place it is important that your potential clients know that your firm has caught up to the 21st century.
4. Reach a new demographic.
Whether we want to admit it or not, Baby Boomers are retiring, and the majority of the working population are now Millennials. Have you done enough to capture your share of this new market? If your firm wants to stay relevant, your branding needs to appeal to the new demographic.
Are you questioning whether or not your firm needs rebranding? I’d love to hear from you. Feel free to leave a comment below.
Until next time!