How brand can help your firm stand out from competitors

The College of Law’s 2024 Satisfaction Survey found that 67 per cent of lawyers in Australia claim they experienced burnout in the past year, a quarter plan to leave their firm in the next two years, and just two in five are willing to recommend their workplace to others.

Firms can’t rely on investment in AI, systems, or remuneration alone to overcome these challenges.

Instead, there is an opportunity to leverage a strategic lever for growth: brand.

A strong corporate brand can be a powerful platform to elevate high-performing partners, acting as a force multiplier, which amplifies your difference. Brand is also a cultural codifier, steadying the ship during mergers and acquisitions and facilitating succession planning.

Both external facing and internal, brand remains one of the most underutilised strategic levers in the Australian legal sector. So, how can you use it to your advantage?

VIEW ALL

First, you must identify and articulate what your meaningful difference is.

You may think you have the edge, but picture a prospective client confronted with a vanilla set of corporates, with a generic set of promises – extensive experience, thought leader, innovative solutions, client focus, achievement of objectives. Too often, these are supported by forgettable variations in features like partner numbers, tenure, and footprint. Not to mention a predictable cluster of values that state the obvious and reinforce uniformity – excellence, integrity, and professionalism. Many firms blur into one another, creating a sea of sameness.

Pre-eminent partners will get you on the shortlist. But with little to choose between the options, a lucrative new client or hire may walk through your door more by luck than judgment. Here’s how to take luck out of the equation and make the decision intentional.

Stop racing to parity, discover your distinction

It’s understandable why firms get stuck in a trap of sameness. Seeking to build serious credibility, you benchmark yourself against competitors and adjust your messaging and presentation accordingly. The result is that you end up saying the same things in the same way. It’s a race to parity.

The few firms that stand out interrogate what sets them apart and amplify it.

Review your ambition. Conduct qualitative research with clients and staff to gain insight into the impressions and associations they have with your firm.

Some BigLaw firms, such as MinterEllison and King Wood & Mallesons, are evolving their offer by extending into consultancy, filling a gap as the “big four” consultancies withdraw from in-house legal models. This kind of evolution needs a sharper set of value propositions, clarifying your offer to clients and the partners you’re looking to attract.

Another way to create a distinctive brand is to highlight a specialism, a unique belief or philosophy, or a way of doing things. Your services may be identical to those of your competitors, but your culture may be what sets you apart.

Take inspiration from professional services firms. McKinsey & Company has a codified philosophy, “We have an obligation to dissent”, which drives its behaviour as a brand and organisation. Pitcher Partners brought its employer value proposition (EVP) to life under the tagline “Lead your way”, creating a new employer brand identity. The EVP launched with a multi-platform graduate campaign that included 20 careers events. Not only did website traffic and time spent on their site increase, but the number of applicants per job role also rose significantly.

With fierce competition for the best graduates, stepping up your brand in an authentic way is a no-brainer. For firms that are merging, or facing challenges of a federated model, it’s essential.

Focus on the big and little B’s

The key ingredients of a stand-out brand are a clear ambition, a distinctive point of view, positioning, and behaviours. That’s brand with a “Big B”, as brand strategist Ethan Decker explains.

Big B brands maximise the opportunity and impress new customers before they even meet you. They stand out from the competition, set clear expectations, and provide a sharper value proposition for conversion.

Big B brands protect a price premium at a time when clients are expecting more value. They carry forward goodwill and trust, aid succession planning and support business sustainability.

Get the Big B sorted, and then you can turn your attention to your “Little B” – your brand’s visual look and feel. This includes your logo, identity, colours, brochures, and social media.

Move with the times – and show it

Many legacy brands share a common trend – they’ve never been thoughtfully updated. Logos are practically illegible in the digital world. In the absence of a brand strategy, messaging and UX review, content has been bolted onto websites, making them difficult to navigate.

Dated-looking brands raise questions for prospective clients and employees. Is the brand living in the past? This could be at odds with the actual experience, but the first impression counts because it sets an expectation.

Brand value has been proven

High-profile corporate acquisitions repeatedly reinforce the tangible value of brands. Experienced analysts place considerable value on reputation, iconic brand assets and culture.

The message is clear: neglect your brands and you will fail to capitalise on this valuable strategic asset. Why overlook a fresh opportunity for competitive advantage?

Moensie Rossier is a strategy director and principal at Principals.