Law firm proposals are becoming an increasingly important means of obtaining new business in today’s competitive world.
A “Request for Proposal” (RFP) is frequently the triggering event, and can be issued by a municipality, corporate general counsel, insurance carrier, or a self-insured entity like a retailer or big box store.
While every law firm proposal will be different, there are several central sections that will appear in most responses to an RFP. Basic sections include but are not limited to those outlined below.
Introduction to the Firm
Geographic coverage, year founded, number of attorneys, and number of offices are all key facts that a law firm will want to include in its firm overview. Distinctive features related to diversity, awards, and other firm accomplishments are also important.
Practice Area Details
In preparing a law firm proposal, the firm will want to provide a substantive description of experience by practice area. Representative case information can help to underscore the depth of your firm’s experience in an area.
Introduce the Attorneys
A detailed bio on key partners and associates is an essential part of your RFP. Highlight credentials, like Martindale ratings or board certifications, and include attorney photos as part of the get-acquainted process.
Be prepared to provide three to four references, ideally of the type applicable to the law firm proposal or RFP (i.e., municipal references for an RFP issued by a local city).
A 25-page Word document filled with dense text is boring! Increase your chances of winning the bid by adding a graphic designer to your team. A professional appearance that is consistent with your firm’s website can help your RFP stand out from the competition.
The Beauty Contest
Submitting your RFP is just the first step in being considered for more work. If a law firm is lucky enough to be among the select group of candidates that are invited to give an in-person pitch, members of the firm need to then prepare for what is known in the legal industry as the “beauty contest.” This is the time when attorneys get a chance to impress the prospective client with their skills and capabilities. More importantly, law firms should be prepared to demonstrate their understanding of the client’s industry and common challenges, with ideas on how they can help the prospect reduce risk or handle litigation claims more effectively.
Insurance defense law firms will want to identify and stay in touch with corporate general counsel, insurance panel managers, and self-insured entities that go out for bid periodically. Remember, never stop marketing!
Need help with an RFP? Call us at 866-417-7025.