Before I start, one thing I’ve learned during my time in the industry is that when it comes to legal awards, “you’ve got to be in it to win it.” You might not think your firm is in with a chance, however if you apply for the right categories, you will have more of a chance than you think.

Why should you enter legal awards?

The most self-evident reason to go for legal awards is marketing. Winning an award or even being shortlisted, gives you content marketing materials and logos it can add to its website lawyer bios and pitches.

Awards are a form of social proof, which can be leveraged to appeal to new clients and gain new work. For instance, if you’re trying to sell your ESG practice but haven’t marketed it before, an award in that area gives you something you can talk about and added credibility. This credibility will open the door to PR opportunities which in turn, lead to new work.

The process of putting together an award submission, and this also applies to directories, is a great way to think seriously about your firm’s value proposition. What are the strengths of your firm and its team? Submissions will make you think about this in more detail. Even bigger firms have been known to use material from previous award submissions when compiling pitches.

And thirdly, awards are great for networking! Whether you’re nominated, shortlisted, or you go on to win, you will likely be invited to the awards ceremony. Of course, you might have to pay for a table, but these are always a great opportunity to rub shoulders with your peers and competitors – and for industry-specific awards, clients, and potential clients. 

What are some of the differences between different awards?

There are hundreds of awards for law firms. Some of them are specific to the legal sector, with categories across practice areas; and some of them are industry-specific, catering to law firms and other stakeholders in a particular niche.

Some awards charge your firm to enter, while others are free. As a general rule of thumb, awards that charge are usually seen as less reputable by the market, although there are exceptions to this rule – for instance, The Lawyer Awards in the UK.

Several publications run legal awards globally, such as the Financial Times, Legal 500, Law.com, and IFLR, but there are also local and regional awards, such as the CEE Legal Matters awards in central and eastern Europe.

Then the sector and practice area-specific awards come in many shapes and sizes depending on the sector, for instance, the Private Equity Wire European Awards, or Real Deals ESG Awards being great examples.

What should you consider when assessing which awards to go for?

When approaching legal awards, think about your overall marketing strategy. Which clients are you trying to target, and which departments or lawyers would you like to showcase?

Some clients, in particular niches, respond well to industry sector-specific awards. For instance, the Private Equity Wire European Awards cover all private equity market participants – if your law firm is targeting these companies, then going for one of the law firm categories is logical.

If you don’t have a specific audience niche in mind, then consider going for an award with more brand recognition, such as the Legal 500 awards or one of the many awards hosted by The Lawyer and Law.com.

Ultimately, you’ll want to go for a blend of both types of awards, to maximize your chances of recognition.

Next – and this seems obvious – but make sure you can meet the exact criteria of the category you’re applying to. The criteria will always be listed on the award’s website. If you can’t meet the criteria, then don’t waste resources on applying. 

You also need to think about whether your firm has the resources to participate in the awards process. Always think about the ROI. Even awards that are free to enter might need partner buy-in or require a certain amount of potential billable hours of investment from your team. Ready to elevate your firm’s profile? Contact The Marketing Legal today for a free consultation and discover how we can help you win the awards that matter most.