Law Firm Mergers – Checklist strategic
Most of law firm mergers underachieving share a fundamental flaw: the failure of fusion of the work is a vital marketing strategy in the soul – before it happens, and as happens after that happens. Remember that marketing is not just self-promotional activities, but the process by which the organization actually sees. It is also used by others, such as recruitment and business development to define the company out. Similarly, the marketing of aimmediate impact on internal perceptions.
Who cares about your merger? Everybody affected by it. So how do you market your merger for success?
Get your story straight, quickly: The biggest mistake merging firms make is waiting too long to establish a marketing plan for the merger. Waiting until after the merger to think about similarities and differences between the two firms is too late. Determine during the negotiating phase what each firm brings to the table and the benefits of the merger.
Do not forget your internal stakeholders: simply determine the value that the merger leads to customers and executives will not be a successful merger. Need internal stakeholders and market.
Locate the central message: what our customers and internal stakeholders need to know more? Craft the high-level messages must be transmitted.
Shows the value:Demonstrate to the market that your intellectual and professional platform is indeed broader and deeper.
Speak their language: Optimize messaging for effective communication on multiple fronts. Keeping the end user in mind to ensure communication is appropriate and effective. Customers and internal stakeholders have very different needs and concerns, and messaging should speak directly to each group.
Tell the truth:Customers and potential customers want and need to hear the facts about the merger. Get the story straight start and plan ahead to avoid false information.
Being Direct: Before starting the rumors, issuing a press release or hold a conference. Address the situation quickly to market and beyond.
Spread the word: the worst news is often a lack of information. First items to fly, spread messaging. Be direct, and communicate often.
Show your credibility: Article on legal issues and cooperation should be strengthened and industry clients with the names of some lawyers, both from the merger. Speaking of mergers in general, by your example.
Share the experience: Implicitly, you remember your customers and stakeholders that this experience is an example of how years right.Even is made later from the two original parts still, companies can share their experiences at conferences, meetings andIndustry events. This shall calm the success of the merger and continue to customers and internal stakeholders.