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Chambers produces Client & Market Intelligence Reports, also known as CMI Insight Reports, for firms using data from research cycles. A dedicated team separate from the Guide researchers compiles a report for a particular Guide and practice area/s for firms. For example, a firm could purchase a CMI Insight Report into Chambers Europe – Denmark – Banking & Finance and Banking & Finance: Regulatory.
The Legal 500 offers a similar report known as Research+ Guide. This is aimed as an accompaniment to the rankings and Historical Data tool to offer more feedback, comparison with peers and client response rates to help explain ranking decisions. Unlike CMI Reports, this guide should be purchased before the first deadline so researchers know more detailed feedback and notes will be required at the end of research. Research+ is done by practice area with the more practice areas, the greater the cost.
Historical Data contains all your rankings for firms and individuals for the past 10 years. This is a great way to monitor progression for the firm, practice groups and lawyers to improve your legal directory strategy. Chambers provides a (paid for) Ranking Hub which contains all a firm's rankings in one place ahead of Guide Launches as well as a separate Editorial Archive for marketing teams to use. We always recommend tracking this information internally as well to better support your legal directory needs.
What does it include?
More in-depth explanations of rankings, a firm overview and breakdown of the ranked lawyers. It is useful that this includes historic information, tips to improve submissions and areas of weakness/strength to consider for the next research cycle. The reports vary according to what firms have purchased. The most expensive option includes insight into how a firm ranks against their top three competitors.
Lawyers with the potential to be ranked and referee response rates are included, but it’s worth noting this information is available to firms with an enhanced profile.
What are the benefits?
(i) Access to anonymized peer and client comments
(ii) 'Trajectory' notes and scoring for client service, sophistication of work and bench strength
(iii) Comparisons with competitor firms
Firms can use this information to assess their perception in the market, adjust their submissions strategy for the upcoming research cycle and identify areas of opportunity/risk. It can be a valuable outside perspective.
Top Tip: it is best not to take the report too personally. This is an independent, impartial and external perception of a lawyer’s practice or wider practice group’s expertise based on the research. It may not be what the lawyer or practice group expect.
When to purchase a Client & Market Intelligence Reports / Research+?
We recommend purchasing a report every few years as a temperature check, especially if the below applies.
- Is there a practice group/lawyer who remains consistently unranked despite consistent submitting. This information is available with an enhanced profile, it can be helpful to see the trajectory notes and analysis.
- If there has been significant movement / change in core practice areas. If a team or rainmaker has joined/left it can be used to determine the impact on the firm’s reputation and rankings.
- For succession planning. The report can help indicate successors and what clients think of a firm’s succession plan (or lack thereof).
These reports are particularly useful if a firm doesn’t have an enhanced profile, whether they pay for the additional competitor analysis or not.
Get in touch with our consultants to find out how we can strengthen your submissions, provide insight and improve your rankings.
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