Participating in legal rankings and awards is a lengthly and time consuming process. However, the exposure and positive recognition that comes from a credible ranking can have a strong impact on how the firm and its professionals are regarded in the market.
Below are some of the main reasons why law firms should make participating in legal rankings and directories a priority.
1.Establish Credibility / Strengthen Reputation
Having a third-party research team endorsement for your firm often holds more weight and credibility in the market than endorsing one’s own firm. Being able to leverage an endorsement from a well-respected media outlet (ie. Chambers and Partners, Legal500, Leaders League) will go a long way.
2. Build Relationships with Key Industry Contacts
The publishers of legal rankings and awards have strong media and industry presences that extend beyond the directories. By engaging in submissions, your firm can form closer relationships with journalists who might quote them in articles, be featured on news postings published by the company, get in the know about events that the company is hosting, and build connections with people who are well immersed in your network, and may be able to help you leverage a new business relationship in the future.
3. SEO optimization
The more places where your firm’s name appears, the better your chances are of being found by potential clients. While legal rankings will not be the make or break deciding factor that clients use to hire legal teams, they are one of the first places where clients go to research firms that they are interested in working with. Often times, people will also do simple google searches like “top tax firms in Brazil”, which will pull up all of the most relevant rankings on the internet. If your firm is not participating in directories, they will not be found in these google searches, which can mean that clients who may want to work with you, will not be able to find you.
4. Free advertising
The publishers that produce these rankings make considerable efforts to promote their rankings and research efforts, and in the process promote all of the firms and professionals included in their published research. In addition, the research teams who produce the rankings often include summaries and highlights of each ranked firm (at no cost), and so potential clients can gain more detailed insights on your firm from each of these third party sites.
5. Attract better talent
Establishing a competitive reputation and strong brand is a key way to ensure that your firm is attracting the best talent across all levels and positions. Lawyers early in their career are often especially eager to sign with firms with high brand name recognition and top tier status, and so the better that your firm can position itself in the rankings.
Click here to learn more about how LETS Americas can help law firms across the Americas to manage their participation and increase their exposure in legal rankings: LETS Americas Rankings Solutions