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Private client management and marketing: Business plans, recruitment, assessments and automation (Nov 2023)

Red Star Kim

Private client management and marketing: Business plans, recruitment, assessments and automation. Core challenges for private client law leaders The core challenges identified throughout the day were the interlinked topics of business plans, recruitment, assessments and automation.

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International Marketing Benchmark 2024 from Meridian West – AI dominates the agenda

Red Star Kim

Marketing and BD budget as a percentage of revenue continues to fall Firm’s total MBD budget as a percentage of its total revenue 2020 2.15% 2021 2.92% 2022 3.35% 2023 2.88% 2024 2.40% 34% see an increase for 2024, 59% see it staying the same and 6% see a decrease.

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[INFOGRAPHIC] Quick Takes From The Media Sales Report

The Center for Sales Strategy

If 2021 saw everyone still reeling from the “year that shall not be named,” then 2022 seems to be one of continued adjustment. Other trends from the previous year seem to persist or have worsened. Take recruitment; 65% of sales managers say that finding and hiring new talent is the hardest part of their job.

Media 101
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Recruitment Trends Shaping the Future

The Center for Sales Strategy

Most companies scale back recruiting in response to a financial crisis. Companies looking to hire the best talent should pay attention to these recruiting trends we’ve seen in 2021 and what it means for future years. Did you know that but 1 of the 3 most effective responses is to hire top performers from the competition?

Sales 100
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10 Trends – Annual International Marketing Benchmark by PM Forum and Meridian West

Red Star Kim

Many firms across the sector are struggling to recruit at the required levels presenting capacity and potential service issues. in 2021 and 11.2% Talking to marketers outside the professional services sector, the main trends (albeit more tactical) they see are as follows: Purpose – standing out for standing for something.

Marketing 130
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Two 2023 financial benchmarks for law firms: The Law Society/Hazelwoods and the Institute of Legal Finance & Management (ILFM)/Crowe

Red Star Kim

in 2021 to 58.9% from £891,693 in 2021 to £939,525 in 2022 Median net profits per equity partner increased by 39%, from £146,417 in 2020 to £203,199 in 2021. Almost 40% of firms struggled to match last year’s profit levels as post-pandemic costs such as travel, business development and recruitment re-emerged.

Finance 130
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Professional services marketing/BD case studies – Moore Kingston Smith, Mazars, Capsticks, Fladgate, Travers Smith, Mills & Reeve and brand awards

Red Star Kim

trillion in 2021 and is projected to increase to over $30.5 There are infographics of top trends and insights on key issues (e.g. Satisfaction rates continue to rise (from 2019 to 2021 surveys from 85% to 88%). Investment in the global real estate market was nearly $11.5 trillion by 2031”. This gives you the brand gap.

Marketing 130