“We forgot how and why we spoke to our clients. We realised there are many alternatives open to them, apart from other ‘magic circle’ firms.”
A ‘magic circle’ law firm
Why were they losing business?
A normally highly successful global law firm was losing business in a very important finance sector. Mergers were going on all around them and its marketing team needed to find out why, and do something about it.
Octopus spoke to industry insiders, clients and other lawyers to see what was going on. We discovered that for years the firm had lived off its name, but new firms were trying harder, kept in touch with their clients better and when the recession struck, fees became very important.
Using our intelligence, the ‘magic circle’ law firm improved how they spoke to its clients and realised it could never take picking up new work for granted.