Virtual CMOs Have a Voice in Law Firms’ Strategic Growth Plans

The rise of fractional or virtual chief marketing officers has reshaped how law firms approach their marketing strategies—and their growth trajectories. Although a fractional CMO can assist with short-term projects, their true value lies in long-term strategic planning.

Strategic vs. Tactical

As a member of a law firm’s management team—whether the managing partner, executive team member, or practice group leader—you may be looking to seize marketing opportunities of varying complexity and urgency. Perhaps you’ve developed a new strategic practice area, identified a promising niche market, or conceived an innovative approach to client service.

Translating these great ideas into effective marketing strategies can be a daunting task. In law firms and other dynamic organizations, distinguishing between strategic marketing imperatives and tactical tasks is critical.

We often hear firm leaders say they need someone to draft lawyer bios, maintain a contact list, and make occasional updates to the website. Such tasks are essential, but they don’t necessarily require a CMO’s depth of expertise. A mid-level marketing coordinator can take care of such tactical activities. But even tactical activities demand a holistic and consistent structure to deliver maximum impact.

The most effective legal marketing professionals understand that strategic insights are woven into every aspect of marketing, from attorney bios to notices and newsletters to collateral involving capabilities and practice areas. Everything must link to a brand and a carefully structured marketing plan.

Fractional CMO Benefits

A virtual or fractional CMO can provide significant value when you’re ready to step back and carefully analyze your firm’s long-term strategic needs.

There are several common scenarios that prompt law firms to engage a fractional CMO, many of which involve navigating periods of significant change:

• Entering a growth phase, such as bringing on powerhouse talent, welcoming entire new teams, or expanding to new locations in the US or globally
• Identifying a business opportunity that requires expert marketing guidance to capitalize on quickly and fully
• Positioning your boutique firm to garner maximum value in a future merger
• Responding to a newly updated strategic vision for the firm, which demands a comprehensive marketing plan
• Repositioning your firm to find its sweet spot in an increasingly competitive market
• Integrating marketing operations to help strengthen automation and processes so the team provides maximum value

Fractional CMOs bring more than marketing expertise. As a strategic partner, they assess current operations and processes, define relevant goals and metrics, and develop actionable plans for moving forward. Their role as a subject matter expert allows them to use their industry knowledge and marketing expertise to shape initiatives efficiently.

They also take ownership of strategy execution and driving business growth. They work with your team in their capacity as a brand builder to create a cohesive brand voice that communicates your firm’s unique value proposition to the market.

During challenging times, they serve as a crisis navigator, providing an objective perspective to help preserve your reputation. Finally, as a team builder, they manage various strategic partners and vendors, frame out needed roles and talent requirements, and develop high-performing marketing teams.

Maximizing Value

To maximize the value of your firm’s partnership with a fractional or virtual CMO, it’s important to approach it with the right mindset.

This relationship isn’t about delegating tasks. It’s about engaging in a collaborative process to shape your firm’s future through a strong brand and presence in the marketplace. Be prepared to participate actively in developing the marketing strategy. The most impactful results emerge when a firm’s leadership is fully engaged.

When selecting a fractional CMO, prioritize candidates with substantial C-suite experience. Look for professionals who have steered a firm’s marketing efforts through multiple phases and understand the management commitment required to achieve good results.

This article does not necessarily reflect the opinion of Bloomberg Industry Group, Inc., the publisher of Bloomberg Law and Bloomberg Tax, or its owners.

Author Information

Jenn Bankston and Amy Knapp head strategic marketing and communications agencies Bankston Marketing and Knapp Marketing, respectively. They collaborate on branding and strategic marketing projects in professional services.

Write for Us: Author Guidelines