In 2020 due to the pandemic law firms needed to find new ways of doing business. The pandemic forced them to go virtual and dare we say that virtual is here to stay. Many find it more convenient to conduct a meeting on Zoom or some other video messenger platform. Also, it is cost-effective and time-saving.
Law firms have used video conferencing in the past, but of course not to the extent as they do now. The health crisis has brought unexpected gains to the market thanks to the Federal Reserve. This fact was some-what predictable given that governments were not going to allow the economy to collapse. Three cheers for the Federal Reserve and its counterparts.
Many marketers have keenly put their eye on the movement of the market and their finger on the pulse. One such alert and diligent practitioner is Hugh Verrier. His firm has profited greatly due to covid-19 and those who follow his lead have also. White and Case raked in $2.39 billion in cash. They walked away like bandits.
Many others have reaped some fortune from the pandemic. Davis Wright Tremaine can sail through the pandemic to collect a hefty gain and go around the trend in expense. Even though the pandemic has wreaked havoc in many parts of the economy, business firms have come out relatively untouched. Davis Wright Tremaine has reported 2020 as pretty much a normal year.
As you can see the pandemic has had no real negative impact on market firms. Some have even prospered, but most are carrying on with business as usual. You might think this is an ideal time to go into the market business with all the bailouts. If you wanted to get ahead, now is time, however, it can be risky nonetheless.
You might ask how long can the Federal Reserve keep propping up the economy? No one knows. The only that is known comes from previous experience with recent economic stresses such as the housing collapse of 2008. The U.S. administration at the time made the right move by using stimulus packages to support the population and businesses.
It worked to some extent as it kept the economy from a total meltdown. However, it was not quite enough to bring it back to full bloom. It took ten years for the American economy to recover to the point of positive gains. The lessons learned back then have proved to be valuable in today’s crisis and for the future.
As mentioned before there is the extreme use of digital marketing or online marketing due to the pandemic. It has gotten so extreme that a new legal marketing agency is popping up every week. This trend will not fade, it will be a fact of the future. Online marketing not only uses social media and email, but it also uses video conference calling and text messaging. Tech companies who have provided websites and applications for this service already before the pandemic are a step ahead.
At this point, there are many apps that you can download to your phone to trade with. Some of these apps stand out above the rest as far as usability and prompt customer service. Just think of it you can trade anywhere you’re at. Quite a few were in operation before the pandemic and are now ahead of the rest.