KJK Partner and Meritas Chair Brett Krantz spoke on a panel called “Seek the Horizon: Competing Upstream in Legal Services” at the Thomson Reuters’ Marketing Partner Forum 2022 on Friday, January 21. The panel, moderated by Jennifer Schaller, Esq., Managing Director of The National Law Review, offered a practical take on strategic growth for large and small organizations and examined where and how firms might have a tangible advantage over their larger peers.
The panelists identified three main areas firms need to consider if they are to compete upstream. First, they need to know and communicate their unique value proposition to the market, including any unique legal products or services. An example that came up was KJK’s GC Advantage program, which offers businesses comprehensive legal services for a set monthly fee. Second, firms need to develop relationships—including through networks such as Meritas—that can help them expand their reach and capabilities. Finally, they need to understand the value of their local capabilities and demonstrate how these offer a competitive advantage.
The presentation also included a discussion of how networks can best support their independent firms. The top three advantages networks can plan for include providing opportunities for members to pitch for work collaboratively, based on unique client needs in markets of particular interest; offering efficiency and value through competitive pricing; and expanding their ability to support talent recruiting, development, and retention through affinity groups, practice groups, and knowledge sharing.
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