European innovation 2012: personal touch

lovemarks logo 445x207 European innovation 2012: personal touch

With the publication of the seventh FT Innovation report last week, we have been flooded with a host of queries.

Many of them are around ‘why didn’t I do so well?’ and ‘how can we do better?’ The truth is that the innovation rankings in the FT are primarily decided by third party referees. So the legal expertise sections – corporate, finance, dispute resolution and this year private client – the entries that went to the top of the rankings received the best client reviews combined with the firm’s ability to display an original solution and approach to the client’s problem.

However there is an underlying reason to why big firms who usually top league tables for the volume and value of their work or their profitability do not always make it to the top of the FT rankings. We are looking for innovation, for exceptional service which inspires eulogies from clients, and most importantly a different order of client loyalty. One submission we received this year from Italian law firm Portolano Collela Cavallo talked about how it was now thinking about its branding through using ‘Lovemarks’ – a way to deepen client relationships so that the element of personal professional loyalty is enhanced. This idea of an ’emotional’ relationship ran through quite a few of the firms’ submissions, the realisation that to really deliver value, there still has to be a personal touch in an institutional environment.