We've seen great changes to the commercial legal profession in the past year, with most law firms becoming substantially leaner. The recent troubles in the market have exposed some chronic issues for the growth strategies of firms of all sizes. On top of this, there is also a growing trend for large corporates to take their legal services in-house.
Lighthouse's own research shows that the legal landscape is changing. Although the Magic circle firms remain dominant in the UK, the difference between the Silver circle and City firms and the nationals is eroding, as large nationals have grown; taking market share. International growth is continuing, though at a slower rate than in the boom years. Specialist and regional practices enjoy differentiation but search for a scale that doesn't dilute their reputation.
The playing field is more crowded and more competitive than ever. To maintain and grow their client base, law firms must become increasingly client-centric; they need to know what the client really wants from a law firm, and to over-deliver. The needs and wants of the client must underlie their approach to strategy, marketing and business development.
Lighthouse works with law firms to enable them to become client-centric; a vital factor in allowing law firms to grow in this increasingly competitive marketplace.
It's our job to provide you with the business intelligence on which to base good management and marketing decisions. We can help you clarify your strategic objectives and align your internal structure and culture accordingly. We offer detailed insight into the needs and expectations of prospects and clients and develop profitable propositions to meet them. We'll help focus your business development, identify which markets to enter and suggest strategies to build a premium client base with resilient fee margins.
This is a business we know inside-out. Our founding partners trained and practised law at Freshfields before establishing Lighthouse to advise the legal sector. We've since built a track record with leading firms. We understand the culture, the working style and the decision-making process that is unique to partnerships.
We're one of a handful of truly specialist consultancies advising the legal sector today. You won't need to get us up-to-speed on your business environment. Far from it. We hope that you'll benefit from our insight - right from the start.