Legal service providers that dare to be distinctive realize profitability far beyond their expectations.
While a dare implies risk and bravery, daring to be distinctive is not as intimidating as you might think. It’s based on two valuable components: identifying your points of difference and unique selling propositions.
The combination of these characteristics reflects a legal service provider’s personality and enables it to be recognized as distinctive among the competition.
For example, law firms and companies can define points of difference in terms of size, reach, practices, depth of talent, strength of expertise, geographic locations, etc. These characteristics don’t necessarily mean one firm or company is better than another; they simply describe distinctive traits.
Identifying your unique selling propositions helps to demonstrate how your points of distinction are valuable to your current and prospective clients. Some clients measure value in terms of a legal service provider’s variety of practice areas or depth of resources, while others value location or expertise in a particular practice or industry.
Again, one set of values is not better than another; they are distinctive.
Your points of difference and unique selling propositions characterize your distinctiveness, and your distinctiveness becomes your brand.
Branding helps you to be recognized as one of a kind in the marketplace, clearly defines you in the minds of current and prospective clients, and enables you to be a market leader.
Daring to be distinctive helps you to operate from a position of strength, and enables you to focus on what you do distinctively and perhaps how you do it better, than anyone else.
Being recognized for what you do best results in: higher profile, enhanced reputation, deeper market penetration, better choice of work, more referrals, increased reciprocity, strategic growth opportunities, quality hires, stronger morale, and efficiencies in terms of time and expenditures – all distinctive hallmarks of the most profitable legal services entities.
This post appeared on Suttie., February 2007.
Heather Suttie is acknowledged as one of the world’s leading authorities on legal market strategy and management of legal services firms.
Since 1998, she has advised leaders of premier law firms and legal service providers — Global to Solo | BigLaw to NewLaw — on innovative growth strategies pertaining to business, markets, management, and clients. The result is creation of new value and accelerated performance achieved through a distinctive one of one legal market position and sustained competitive advantage leading to greater market share, revenue, and profits.
Heather writes on these issues at heathersuttie.ca and can be reached at heather@heathersuttie.ca