Guest article: Matt Baldwin, Coast Communications
Love them or loathe them, Chambers and the Legal 500 have been part of the legal landscape since the dinosaurs.
Their success is largely down to the vanity of the individuals ranked – because who doesn’t love to be loved.
We are often asked of their value and whether firms should engage – and indeed caused more than a little consternation when we addressed the issue in the PM Forum’s PM magazine in November last year.
We’re agnostic, leaving firms to make that decision.
We are also asked if the legal directories have any PR value, and here we do have a view.
Not so long ago, firms would spend hours poring over their directory rankings and race to issue press releases crowing about how many top tier listings they’ve achieved.
Occasionally we would see a press release saying how thrilled a firm was to be promoted to tier two for property work in their region, seemingly forgetting that all it did was remind the market there were better firms available.
Those press releases were questionable then, and even more so now. Nobody cares.
The value of the legal directories does not rest in their PR potential.
Where value lies
But there is value in PR in supporting directory submissions.
As Helen Foord at ELE, the directory specialists, told us “anything that helps them [researchers] understand a practice better… to assist in the research process… that’s genuinely valuable”.
But, Helen warns, that is not an open invite to “spam” researchers. “Firms should always consider whether press clips add anything beyond the submission, referee and interview elements of the process.”
So what kind of press clips might add value?
For transactional teams, press clips that can demonstrate the importance, size or impact of a deal will likely be welcomed. Even better if your firm is named as an adviser. They provide the colour that directory submissions often miss.
For advisory teams, a strong trade or national press profile for leading individuals will strengthen their case for a better ranking.
“Research windows are quite lengthy,” adds Helen, “and researchers can find press cuttings helpful where they address mergers, team acquisitions and growth. They help provide that bigger picture.”
The message is clear. Don’t trouble your PR teams with press releases on how ‘delighted’ you are to be ranked. Let them focus on the real job at hand and ask them for press that will strengthen directory submissions.
Matt Baldwin is the joint managing director of Coast, a media relations agency.