Law Firms, Such as A&O Shearman: Has the Marketing Function Moved to the Downsize List?
Those following the global legal sector hear that new business development is everything. And that it's changing.
Does that mean that there will be less responsibility and actual work for the staff in the marketing function? Maybe.
RollonFriday reports this about A&O Shearman:
"The Magic Circle firm is making cuts among its finance,
marketing and IT staff following its merger with
Shearman & Sterling and in advance of its London office’s move to fancy new
premises in Broadgate next year."
Is more of the hands-on marketing shifting directly to those who will do the actual work? That's who clients want to deal with, not middlemen. The extra layer has been a complaint over the years by some prospects and current clients with new legal issues. They need to know the precise details about the unique strategies of the case management, in real time. Paul, Weiss partner Brad Karp tells the story of having three consecutive breakfasts in a single morning. That's the guy prospects and returning clients want to interface with.
In business in general the marketing function has taken a staggering blow. AI, cost-efficiency imperatives and offshoring have eaten jobs as well as contract assignments. Reddit is full of laments of those who once were going gangbusters in marketing. Then they have been without jobs or down to one client (who is tighter with the bucks).
In coaching, parents ask me if their children should major in marketing. I warn of the growing employment insecurity. The money isn't there. AI is getting better and better both with strategies and content. And overseas there is labor who will provide end-to-end service for peanuts.
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