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How Law Firms Can Take a Business Development Approach to Thought Leadership
Monday, December 23, 2024

For many law firms, thought leadership content is driven primarily by marketing. The goal? Stay visible, stay relevant and ensure the firm is top of mind. While this approach serves a purpose, it often sacrifices long-term value for short-term visibility. A thought leadership strategy driven by business development, on the other hand, offers a more targeted, strategic and lasting approach – one that positions lawyers and their firms as trusted advisors on the exact issues their clients care about most. This method turns thought leadership into a tool for attracting and retaining high-value clients while building a resource that serves the firm for years to come.

The Difference: Marketing-Driven vs. Business Development-Driven Thought Leadership

Marketing-Driven Thought Leadership: Most law firms produce content that casts a wide net. This “one-to-many” approach focuses on:

  • Recent court decisions and regulatory updates
  • Proposed or enacted legislation
  • Agency actions and industry trends

While this content is relevant and informative, it often lacks a clear connection to specific client needs or firm priorities. The result is content that keeps the firm visible but rarely sets it apart. Worse, this kind of content tends to have a short shelf life – a court decision from two months ago or an analysis of proposed legislation quickly becomes old news.

Business Development-Driven Thought Leadership: A business development-driven approach, in contrast, focuses on specific issues that matter to the firm’s ideal clients. This content is highly targeted, addressing the real-world legal and business challenges clients are facing now or are likely to face in the future.

Rather than aiming for the broadest reach, this type of thought leadership:

  • Demonstrates deep expertise and industry insight
  • Provides practical guidance and actionable takeaways
  • Aligns with the types of matters the firm wants to attract more of

For example, instead of producing a generic update on a new employment law, a firm might create content on the common pitfalls in compliance for mid-sized retail businesses or red flags in employee classification for growing technology companies. The focus here is on relevance, not reach.

Why Business Development-Driven Thought Leadership Has Staying Power

One of the most significant advantages of business development-driven content is its longevity. Unlike news-based content, which quickly becomes outdated, this content focuses on legal and business issues rather than legal developments. These issues are often recurring, evergreen and directly relevant to clients. The result is a growing library of reusable content that lawyers can leverage for months – or years – to come.

How Firms Can Use This Content Library:

  1. Client Conversations: Lawyers can share relevant articles or insights when discussing issues with current or prospective clients.
  2. Pitches and Proposals: Thought leadership can be cited in RFPs, formal pitches or follow-ups as examples of the firm’s experience and expertise.
  3. Training and Education: Content can serve as a foundation for client seminars, webinars or CLE presentations.
  4. Relationship Building: Sharing targeted content with contacts nurtures relationships and keeps lawyers connected to key decision makers.

By creating evergreen, issue-based content, firms ensure their thought leadership remains useful long after publication – offering sustained value for clients while supporting the firm’s business development goals.

Taking a Strategic Approach to Business Development-Driven Thought Leadership

Shifting to a business development-driven strategy requires a more intentional, strategic approach. Here’s how law firms can implement it at their firms:

1. Start with the Clients

Identify the firm’s ideal clients and the specific legal and business issues they face. These could include:

  • Industry-specific challenges (e.g., regulatory hurdles in healthcare)
  • Growth and expansion issues (e.g., navigating M&A in private equity)
  • Common misconceptions or risks (e.g., compliance pitfalls in fintech)

By understanding the pain points and priorities of key client segments, firms can focus their content efforts on the topics that matter most.

2. Create Highly Targeted Content

Unlike broad marketing content, business development-driven thought leadership is tailored to a specific audience. The content might take the form of:

  • Best Practices: Actionable guidance on handling complex issues
  • Red Flags and Risks: Warning signs clients should look out for
  • Case Studies: Examples of how the firm helped solve similar challenges
  • Forward-Looking Trends: Insights into what’s on the horizon for a particular industry or issue

For instance, a firm focused on private equity clients might publish a white paper on key considerations in GP-led secondary transactions or a blog post on mitigating tax risks in cross-border deals. The content speaks directly to the firm’s ideal audience while reinforcing its expertise in the matters that audience cares about most.

3. Make Content a Team Effort

Lawyers are often the subject matter experts behind thought leadership, but marketing and business development teams play a critical role in shaping, publishing and promoting the content. Collaboration ensures that the content aligns with the firm’s business goals and resonates with the target audience.

  • Business Development Teams: Identify client pain points and ensure the content addresses them
  • Marketing Teams: Edit and distribute the content across the right channels
  • Lawyers: Contribute subject matter expertise and insights

4. Focus on Consistency

To build a truly impactful library of thought leadership content, firms need to publish consistently. Regular, high-quality content not only demonstrates the firm’s deep expertise but also positions it as a reliable resource on key client issues.

Consistency doesn’t require constant output—a well-planned editorial calendar with monthly or quarterly posts can make a significant impact over time.

The Long-Term Impact of a Business Development-Driven Strategy

Law firms that prioritize a business development-driven thought leadership strategy benefit in multiple ways:

  1. Attracting the Right Clients: Highly targeted content ensures the firm speaks directly to its ideal clients, making it easier to attract the kinds of matters it wants more of.
  2. Building Trust and Credibility: By addressing client pain points and offering actionable insights, firms position themselves as trusted advisors and industry leaders.
  3. Supporting Ongoing Client Relationships: Thought leadership serves as a touchpoint for nurturing relationships, offering ongoing value beyond the initial engagement.
  4. Creating Long-Term Value: A library of evergreen, issue-based content remains relevant for years, providing lawyers with a valuable resource to draw from in client interactions, pitches and beyond.

A Smarter Approach to Thought Leadership

While marketing-driven thought leadership has its place, law firms that adopt a business development-driven approach can achieve far greater impact. By focusing on the issues that matter most to ideal clients, firms create content that demonstrates their expertise, builds trust and drives meaningful business opportunities.

Over time, this strategic approach turns thought leadership into a powerful tool for attracting, retaining and growing high-value client relationships while building a lasting resource that supports the firm’s success for years to come.

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