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Law Firm M&A Deals Should Consolidate Their Tech Solutions Early

  • February 18, 2023

Last year saw 46 completed law firm mergers, and according to Fairfax Associates, more are on the way.

For years, middle market pressures led large firms to expand and add new practice capabilities, while smaller specialist firms developed their own position in the marketplace.

We now face a second pressing, and smaller and mid-market firms are seeking new partners.

Such deals raise the issue of how firms consolidate and invest in their systems, particularly the marketing technology stack.

It is a misstep to address marketing systems—the customer relationship management system, deal and litigation trackers, and other marketing databases—at the end of merger discussions.

Deal Communication

How a merger is communicated—at what stage in the process and by whom—is vitally important to its success.

A well-run system that denotes key clients, responsible partners, billings, and nuanced notes about the relationships is critical.

I often suggest to clients pre-merger that they consider all their constituents, employees, lawyers, clients, recruiters, vendors, alumni, and referral sources and plan to communicate with each of them in a timely manner.

For example, there should be plans to communicate with clients in person or by phone. When that is not possible, there are other ways to reach out so clients hear the news directly rather than learn about the move in the media.

Once it’s time to make an announcement and plan who should be connecting with which groups, marketing technology is imperative to a successful communications strategy.

Marketing tech solutions streamline client information and contact mining, and link with finance. Without them, marketing efforts will be scattershot at best, and tactics can be far off base.

Ensuring a rollout of the right technology that facilitates each party’s strategy is important to get right. This should take place before planning communications and marketing tactics. Here are

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