What is Business Development in a Law Firm?

A new series introducing you to the various roles you will find in a law firm within a Marketing & Business Development team. If you are a graduate with a degree in Marketing, English, Business, or Law and you’re not too sure which direction to take, you may find this information very useful!

As a graduate, you will be forgiven for perhaps feeling somewhat overwhelmed after completing your degree and trying to navigate your next move. The expectation to jump into a new role and put this degree to good use can feel daunting. You may not have considered stepping into legal and may not realise that there is a world of options which may just suit your skills and personality perfectly.

The first step in your career is pivotal and should set you on a pathway to a flourishing and successful future. More importantly, you should be doing what you love. At first glance, you may not think a law firm is an option if you’re not thinking of becoming a lawyer or solicitor, but there are so many important support roles which you may not be aware exist which make up a firm and are the foundations for their success.  

The first role I will take you through is within Business Development. I have highlighted below some useful information which will hopefully help you understand the role a little better and why it may be the right career move for you…

What is the function of the Business Development team? 

A Business Development (BD) team is tasked with enhancing a firm’s market presence, nurturing existing clients, attracting new clients and promoting the firm. BD roles have very varied responsibilities - from creating and implementing marketing campaigns and initiatives to coordinating events and managing the firm's social media presence and monitoring engagement. This all connects to produce a team with a strong client-centric approach to ensuring their firm is preeminent within the market.  

You do not need to have legal or law firm experience, but you will need to have an interest in legal markets. Keeping your finger on the pulse means that you will be able to adapt to new industry trends, identify competitive advantages, and will become market-leading – setting your firm apart from others and therefore attracting new clients.  

It is important to note that some roles are generalist roles, where you will support various practice areas and specialisms, and others are aligned to specific teams – such as Corporate, Mergers and Acquisitions (M&A) and even Sports and Technology. You may start as a generalist and decide to specialise in a specific practice area later in your career.  

Key Responsibilities

• Research Tasks
  • You will identify and pursue new business opportunities through market research. By learning and understanding client needs, you will be able to tailor your legal services to meet those needs effectively. 
• Pitching and Proposals
  • Pitching is a key element to any BD role. This is where a firm exhibits their credentials to a potential client, explaining how the firm would best support their needs. 
• Reporting
  • Keeping track of social media engagement, managing pitch deadlines and monitoring campaigns are all vital to ensuring the team are kept on track. Producing reports helps to ensure all areas are covered and deadlines are met. 
• Client Relationship Building
  • Whilst you may not be client-facing initially, you will be responsible for initiatives which help build strong client relationships. 
• Senior Stakeholder Engagement
  • You will collaborate closely with Lawyers/Associates and Partners to develop and execute strategic plans for client acquisition and retention.
• Events
  • Usually working closer with a wider events team (depending on size of a firm) you will assist with planning and executing events to promote the firm. This could be a networking event or a conference.
• Identifying Cross-Selling Opportunities
  • Firms offer many services which may benefit clients which they may not be aware of. You would identify these needs and introduce clients to your services, further solidifying strong partnerships and providing a unique solution to their needs. 

 Career Progression

Starting as an Assistant, you will have a clear pathway for future development. Depending on the firm, you may then grow into a Coordinator role (some firms do not have this level or it may be in lieu of Executive level), then Executive. Senior titles will then come after a solid grounding of experience. Good BD candidates are always desirable in a market where there is currently a shortage of skilled professionals. It is a great career to pursue in terms of job security as there is often more roles available than people with the right skills to fill them.  

Along with a solid career trajectory, many firms offer a competitive salary along with great benefits and sometimes even bonuses (performance and non-performance related).  

If this has inspired you to consider a career within Business Development, please do get in touch and we can discuss further. 

Stay tuned, next week I will be outlining Marketing roles and the facets which make these roles so desirable to digital and content focused candidates!