742advisors

I am thrilled to announce my return and the launch of 742advisors, a consulting business focused on helping law firms solve three key issues: Issue 1: The sales cycle has changed dramatically, with more digital-savvy clients searching online for capabilities. However, most attorneys and firms aren't collecting or adding their experience to bios or practice pages in a streamlined process. According to Gartner, legal and other B2B buyers are 57% of the way through the buying cycle before they contact a prospective attorney. Further, roughly 87% of web traffic is to attorney bios. There is a significant cost of doing nothing, as your firm can be out of the "game" before you know you're in it! Let's face it- no potential client is going to call and ask if you have expertise that isn't listed on your site. Issue 2: Attorneys and staff spend unnecessary hours each week on pitches. Not only does this drive down realization rates, but it also drains firm resources and increases staff turnover. With a firm doing 100 pitches per year, this lack of process can potentially cost an average AmLaw 200 firm over $350K in revenue leakage EACH YEAR (to say nothing about missed client-facing and customization opportunities due to constant "fire drills"). Issue 3: Time and money are wasted, key insights are missed, and your firm's reputation is at risk because of siloed and disparate information. Further opportunities are lost because data and matters are not shared between groups (billing/intake/marketing/HR/PD/practice areas, etc.) Without tracking, it is difficult to identify practice correlations and target new/existing clients primed for your services- and attorneys can easily trip over each other (or worse, pitch the same clients!) And so many firms are buying technology that doesn't suit their needs- or they aren't utilizing these systems to their full potential. Starting with a baseline audit of your technology stack, I build processes throughout the buying cycle that unlock opportunities. Whether it's choosing the right CRM for your firm, building experience databases, developing pipelines, or building templates, I ideate and implement marketing processes so you can spend more time with clients and help them solve their problems more effectively. I also build resources to help your folks through the sales cycle, while building firmwide consensus that creates lasting change. As a former CMO, I also love to build strategic plans, coach attorneys, manage transitions and overflow, and can assist as a fractional CMO or sounding board for your existing team. If any of the above raises your eyebrow, perhaps we should talk. If you're interested in a sample checklist of the questions that all law firms should be asking themselves, please message me and I'll get it over to you! #dontcallitacomeback www.742advisors.com (P.S. Thank you for all your support during my COVID journey. It's been humbling on all fronts.)

We wanted to wish all of our friends, clients, and supporters a very happy holiday season. It's amazing to think what's been accomplished in less than 6 months- but with a full client roster and a growing pipeline, we know that the sky is the limit! Whether it's building simple experience management systems and pitch processes, serving as sounding boards for Managing Partners and CMOs, developing business plans and strategies for attorneys or groups, or overhauling your firm's entire go-to-market (GTM) strategy, we've got you covered and always welcome a conversation with your friends or colleagues. Here's to an amazing 2025 and beyond!

Interesting article here on the complexity of measurement...

Great gig...sharing for reach

Calling all law firms to please help our friends over at ALM. David Gialanella, Gina Passarella, Patrick Fuller and crew are always providing us with key intel and we are hoping to return the favor!

We encourage everyone to check out Scott Love's podcasts and are thankful for the opportunity to talk shop with one of our favorite #legalpodcast hosts! #raunmaker #optimizeyourspend

Feeling the love with Scott...this episode just dropped this AM...hot off the press! Always been a fan of his show so it was an honor to talk shop with him and be invited on the podcast. #rainmakers #winningbusiness

In the latest episode of Tip of the Law, our President + Founder Mike Mellor joins Joe Giovannoli, CEO of 9Sail, to discuss how law firms can prevent revenue leakage and improve operational efficiency. The conversation covers topics such as inefficient processes, technology integration, and the cultural changes necessary for implementing lasting solutions. Key Takeaways: Revenue leakage and inefficient processes: Law firms experience significant revenue leakage due to inefficient processes, such as recreating pitches, lack of centralized data, and poor coordination between teams. Importance of data organization and technology: Implementing the right technology solutions, like CRM systems and experience management platforms, can help law firms streamline operations, improve win rates, and reduce revenue leakage. However, firms need to be strategic in their approach and tailor solutions to their specific needs. Cultural change and buy-in: Driving change in law firms requires overcoming cultural resistance and getting buy-in from partners and associates. Firms need to create frictionless experiences, build trust, and demonstrate the value of new processes and technologies. Practice area-specific approaches: A one-size-fits-all approach to marketing and technology often falls short in law firms. Firms should consider the unique needs and dynamics of different practice areas and develop customized solutions to address their specific challenges. At 742advisors, we love helping law firms be more strategic in how they go to market and in how they invest their marketing dollars. Plus, we have deep contacts across all disciplines, including PR, technology implementation, data analysis, and more. We're just a click away. #legalmarketing #winningbusiness

Hey gang- last chance to register for today's #COLPM panel on how to use data to drive client acquisition. We have over 100 registered attendees already, so claim your spot as it's open to all. The panel starts at 1PM EST, and I'll be asking how some of the industry's biggest rockstars (Trish Lilley, Meredith Williams-Range, and Luke Ferrandino) are getting it done every day. A hearty thank you to Jennifer Manton, Debbie Curtis-O'Connell, and the College of Law Practice Management fellows for their support!

Our latest episode of "Tip of the Law," features an insightful conversation with Mike Mellor, President and Founder of 742advisors, where we dive deep into practical solutions for law firms to stop revenue leakage and enhance efficiency. In this episode, Mike discusses: 🔍 Identifying common areas where revenue leakage occurs  ⚙️ Practical steps to streamline operations and boost efficiency  📊 The role of technology in minimizing losses and maximizing profit If you're looking to optimize your law firm's processes and improve your bottom line, this podcast is a must-listen. Check it out here 👉  https://lnkd.in/eNbNfYNJ #LawFirmMarketing #LegalIndustry #Podcast #EfficiencyTips #RevenueGrowth