CMOs - Very Different Game in Big Law and Fortune 500

 When it comes to marketing, Big Law is moving in a different direction than the Fortune 500. 

In large law firms the CMO function remains a powerhouse role - and is growing. Global competition has become a dog fight. The game is about recruiting star players. In addition, how to get the message out there keeps mutating. How much impact, for example does a bylined guest post by the managing partner in established media have for the law firm these days? Would a customized briefing on a new regulation for in-house lawyers have more impact on branding, client retention and business development? 

In large corporations, such as UPS, Walgreens, Etsy and Lowes, the CMO title is being eliminated. The power has shifted to finance. Tech is doing more of the heavy lifting. And responsibility for marketing no longer operates in a silo but is absorbed by most departments. That's a trend - we all sell - kicked off in the late 1980s when Chrysler and IBM were in distress. 

So, given the importance of the CMO in Big Law it's a big deal when an effective CMO goes over to the competition. This year, 31% made such a move, compared to 28% last year.

Last week Skadden announced that long-time Paul Weiss marketing expert Luke Ferrandino was coming aboard as Chief Business Development and Marketing Officer. The role is new. It covers client development, brand awareness, communications, market trends analysis and more. 

As Ferrandino's LinkedIn profile documents, he had had two stints (2018 - 2024, 2009 - 2016) in a variety of marketing roles at Paul Weiss. Law.com reports the departure as a retirement from Paul Weiss. In addition Ferrandino had worked at Fried Frank, Shearman & Sterling and Davis Polk. 

Although the "knowledge worker" is losing its value in industry in Big Law that specific bundle of expertise, institutional awareness and cultural understanding - in short, how they do things there - has become critical to success. 

Therefore, when CMOs go to a competitor they bring with them the inside scoop about  their former employers' strategies, strengths and weaknesses. That involves how they pitch to prospects, prevent client churn, recruit talent, disrupt their models as in rebranding and recover from reputational stumbles. 

All that can be quite useful to the new employer. The bundle isn't exactly a "trade secret" but it's the kind of  hands-on experience that can provide edges in competition. It can be applied in every aspect of marketing, ranging from what accounts to invest in going after to how to prepare the slide decks. 

Several years ago when I was on retainer to Paul Weiss for communications assignments, I "reported" to Ferrandino. At the time he seemed to have much bigger fish to fry than focus on how to use my skills. After two months, frustrated, I  pulled the plug. 

Life is hard. Business is even more difficult these days. Get answers – and relief. Jane Genova is a results-driven intuitive coach, tarot reader and content-creator related to careers. Complimentary consultation (please text/phone 203-468-8579 or email janegenova374@gmail.com)