The McCormick Group’s Steve Nelson was a featured panelist for “Current Trends for CMO’s: From Comp to Staffing to the Ever-Changing Role”, which was organized by the Legal Marketing Association’s CMO Shared Interest Group (SIG). The group consists of C-level marketing and business development professionals in law firms. Ninety-four such professionals registered for the webinar, which featured a discussion on a variety of topics, including the Evolution of the Law Firm CMO, Business Development vs Marketing, Staffing Trends, and Compensation.
Steve focused on the Evolution of the Law Firm CMO, and trends relating to their hiring and tenure. In his remarks, he gave details of a survey he conducted concerning recent marketing and business development hires at the C-level. According to the survey conclusions:
- The market seems to have stabilized and the average tenure has increased substantially. Firms are doing a better job of being more realistic about their expectations and articulating them in advance. However, there are still many firms that have constant turnover, which should be a red flag for CMO candidates.
- The vast majority of recent hires at the C-level are coming from other law firms. The remaining firms are professional services firms where there are legal-related services being provided.
For more details about the study, contact Steve Nelson at snelson@tmg-dc.com.
