3 Takeaways from the 2024 LMA Boston CMO Forum

It’s clear that legal industry leaders remain focused on collaboration with team members and value the levels of effort each person brings to the team. They also look forward to exploring how their field is changing, with a goal of not only returning to pre-COVID interactions but also looking ahead and taking advantage of new technologies (ex: a little thing called AI).

The panelists offered an insightful discussion! Three things in particular stood out to me as the conversation unfolded:

Looking Ahead

• There’s a strong desire for firms to determine how their teams can best support growth. Strategies only get you so far; you must really hold your teams accountable for putting those strategies into practice (focus, tactics, stake in the ground)—while remaining flexible and adaptable.
• Firms are also trying to manage where clients are going. Leveraging data has helped analyze markets and figure out where it makes the most sense to invest moving forward.
• The panel also emphasized how firms are aspiring to differentiate themselves and how that needs to stay top of mind. This approach allows firms to be more connected to their clients and adapt to their evolving needs.

Motivating Teams & Relationships

• It’s critical to find development opportunities for your team members while also remaining committed to educating them—helping them grow within the company and their roles.
• Leading firms are always in search of new talent that can help build relationships while holding true to practice expertise. New team members bring fresh ideas, which helps the evolution of firms overall.
• In today’s post-COVID world, where digital interactions are ever-increasing, it’s important to prioritize staying connected on a personal level to maintain meaningful human relationships. With many returning to the office, being in person is helping to enhance collaboration and create deeper connections between team members.

Technologies

• Of course, there was a lot of rich discussion around leveraging AI. Most firms are experimenting and learning about it, and figuring out how it could be put into practice.
• There is still a lot to learn, and this shouldn’t be done in isolation. Asking others for help and insights will only further strengthen knowledge of and expertise around these new technologies.

We may not have the future figured out, but it was energizing to listen in as some of the legal industry’s leading marketing and business development professionals explored what it might look like—and things we all can do to stay ahead.

Photo Credit: Diego Ph | Unsplash