There’s no doubt business development in the law is about relationships, but when it comes to the time and marketing money used to build out referral networks, law firms want to know whether that meeting over cocktails will turn into meaningful work or just a hangover.

Whether it’s creating a database that reviews their experiences with other firms’ lawyers or more closely tracking which referrals lead to which type of work, law firms are investing in the infrastructure needed to vet and monitor incoming and outgoing referrals. And what they are finding is causing a shift in the relationships they prioritise.

How does your firm’s performance compare to peers & competitors? Get the Am Law 200 Data exclusively with Legal Compass.
Cyril Shroff of Cyril Amarchand Mangaldas