Businesses find a steadfast partner in law firms as they steer through legal intricacies and foster a secure foundation for growth and success.
Law firms generate demand through three main channels: search engine optimization (SEO), referrals, and events. Many law firms rely heavily on referrals and relationships, which contribute to about 90% of their business. Building strong relationships is a critical metric and the most important method for generating demand in the legal industry.
These are the two areas where Law firms can generate demand using a relationship-driven approach and provide various services:
1. Visa and Immigration: Assisting B2B (Business-to-Business) companies with their visa requirements.
2. Global Technology Centers: Supporting B2B companies in international expansion and setting up global technology centers in countries like India, APAC (Asia-Pacific), and Eastern Europe.
There are over 60,000 software companies worldwide, including the United States of America (USA). Around 30,000 of them operate outside the USA, with approximately 17,000 to 20,000 in English-speaking international markets like the Middle East, India, Singapore, and Eastern Europe. These companies have a common goal of eventually establishing a presence in the USA.
The USA represents one of their largest target markets, making it an attractive destination for their expansion. This is where law firms play a crucial role by offering their assistance. Even if these companies are already present in the USA, law firms can still help them by facilitating further growth and expansion. The second area where law firms provide support is in helping these companies set up operations outside the USA. Among the companies, 1,600 are headquartered outside the USA but operate from India, and 1,800 are in the APAC region.
Overall, there are more than 7,000 other companies that have yet to establish their presence in India but have plans to set up technology centers or headquarters outside the USA. Law firms have the opportunity to create more demand by targeting these 7,000 companies along with the 17,000 startup companies, totaling 24,000 companies seeking international expansion into the USA. Law firms play a pivotal role in facilitating this expansion process.
B2B Law firm marketing is traditionally relationship driven. While outbound campaigns typical of the IT industry can put you in front of the customer, building relationships through nurture campaigns is very important.
Can law firms soar to new heights by strategically targeting these companies and unlocking a world of untapped business opportunities?
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