[The fourth of eight articles in the Law 2.5 Strategic Insight series. Law 2.5 is a forward-thinking consortium of industry leaders focused on redefining how law firms operate, compete, and create value in a rapidly evolving marketplace. Throughout the series, authors explore structural, cultural, and strategic shifts shaping the next generation of legal services.]
In many law firms, marketers and business development professionals are uniquely positioned to understand the firm’s strategy, its practice area strengths, the client base, and the nuances of individual lawyers’ practices. Yet, time and again, it is professionals from the finance side who ascend to the senior-most positions in law firms.
Why is that?
The answer often lies in how these professionals are perceived: finance leaders are viewed as strategic advisors who can optimize performance across the enterprise, while marketing and business development professionals are too often viewed as brand ambassadors, focused on top-line revenue, and being good implementers but lacking the comprehensive business skills necessary to lead a firm. Suppose we want to change that dynamic and see more marketers having a seat on the executive committee or ascending to COO roles.
In that case, we must focus on deepening our practice area expertise, mastering practice economics, and becoming indispensable strategic partners.
The Power of Understanding the Practice Group
The first imperative is to truly understand your practice group at a deep level—or, if you lead a department, ensure that each member of your team is deeply embedded within their assigned practice group. It is not enough to know the broad outlines of a practice; you must master its nuances. That includes knowing its sub-practice areas, understanding the individual expertise of each lawyer, mapping the client base at the firm, practice, and partner level, and knowing how the practice aligns with firm-wide strategy.
One litmus test for whether you’ve achieved this level of mastery is your ability to draft a pitch or respond to an RFP 90% of the way without relying on the relationship partner. When you can do that, you are no longer merely supporting your partners; you are moving into the trusted advisor role.
Second, marketers and business development professionals must gain fluency in practice group economics. Understand what financial metrics are tracked, what they mean, and how your practice group compares to firm-level benchmarks. If financial data is not readily shared with you, look for ways to earn access. One approach is to offer to develop a practice group dashboard that integrates financial data with business development metrics, pipelines, and wins.
Ideally, business development professionals should even be part of rate-setting discussions—after all, who better understands market positioning and what clients are willing to pay than the team closest to the clients? If your firm historically excludes MBD from rate conversations, look for a wedge to add value. Offer to analyze the impacts of new rates on the practice group and provide talking points to partners for how to communicate rate changes to clients.
Hiring the Right Professionals
Another strategic opportunity is in hiring. Marketers and business development professionals are often exceptional at reading people. While lawyers can assess substantive expertise, marketing and BD leaders can help evaluate whether candidates—particularly lateral partners—will thrive culturally and bring business development potential.
Once a lateral partner is hired, marketing and BD should lead integration efforts. Suppose you were part of the interview process. In that case, you’ll be best equipped to advise on day one: who the partner should meet, which clients need introductions, what cross-selling opportunities exist, and how to transition their book of business successfully.
Integration is far more than onboarding; it is setting a new partner up to build and expand their practice within the firm.
Professional development is another area where MBD professionals can demonstrate strategic value. Every firm has core competencies for associates. Learn them. Understand how those competencies manifest in your practice group. Work with professional development leaders to design trainings that build skills aligned with practice area needs and client expectations.
Your knowledge of what clients value and what the market demands can help professional development teams ensure associates are equipped to deliver, which in turn supports the growth of the practice.
Talent Development
Finally, marketers and business development professionals can support staffing and talent development at the matter level. You are often among the best informed about partner and associate strengths through your involvement with pitches and proposals. Leverage that knowledge to advise on matter staffing. Offer insights on associate workloads, partner specialties, and cross-practice synergies. This kind of proactive support positions you as a trusted advisor, not just a service provider.
At their best, marketing and business development professionals are deeply strategic and uniquely positioned to drive firm success. By mastering the substance of your practice areas, becoming fluent in financial metrics, playing a strategic role in hiring and integration, and investing in professional development and staffing, you make yourself indispensable to your practice heads and to firm leadership.
It is time to move beyond an implementer mindset and step fully into the role of advisor and strategist. If marketers take these steps, we can change the trajectory of our profession and see more marketing and business development leaders rise to the top of the firm. Let’s do the work to make sure that more marketers are leading the future of law.
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Kerry Price is Chief Strategy Officer at Bass, Berry & Sims. Connect with Kerry on LinkedIn.
