Having worked for several law and consulting firms that are often referred to as prestige brands, I’ve discovered there is no magic to building a strong brand, whether it’s one of prestige, innovation or integrity.
However, there are important lessons that can help you whether you aim to be Tiffany or Target.
1. Mission and Brain Brand
Understanding your firm’s mission and how it differentiates itself is the first step. I call this the “brain brand.” Consensus on what you want the firm to stand for is essential. Without clarity and constant communications about your mission, even the most beautiful logo and storied history of deals won’t matter.
2. Excellent Work and Training
At the heart of any strong brand is an excellent product and training. Hiring top talent and providing continuous mentorship and training are crucial. Prestigious firms invest in regular training to keep their lawyers updated on the latest developments, technologies, and best practices in innovation. This commitment not only enhances expertise but also demonstrates a dedication to professional growth and client service.
3. Strategic Marketing Decisions
What you say “yes” to is as important as what you say “no” to.
In the pursuit of prestige, discernment is critical. CMOs are constantly approached with sponsorship requests, and ad campaign and industry conference invitations. The most successful firms spend their money strategically. Quality of marketing activity always trumps quantity.
Ensure all marketing and business development activities align with your core values and strengths.
4. Consistency in Public Relations
A consistent and strategic approach to public relations and media interactions is essential. Craft a coherent narrative about your firm’s mission and values. Engage with the media and have frank and honest conversations, respond promptly to inquiries, and provide expert commentary on relevant issues.
Being seen as a reliable and authoritative source enhances your brand and visibility. Never, ever lie to a reporter. It will come back to haunt you.
5. Visual Brand Professionalism
First impressions matter. A prestigious brand requires a professional and consistent visual identity. This includes everything from your logo and website design to marketing materials and office environment. Avoid random acts of marketing—every visual element should reinforce the same high standards of professionalism and quality. (Say “no” to the partner that wants his “personal” PowerPoints to have a neon green background.)
6. Treatment of People
How you treat people—clients, employees, and vendors—is crucial. Your firm’s reputation can be significantly impacted by the behavior of its partners and staff.
As the saying goes, you are only as good as your worst-behaving partner. If a snarky partner does well with clients but mistreats staff, prestige gets sucked out of the window.
