No headline news here, but the economic times have brought the value all professional service firms deliver to clients into sharp focus.

Example: In the legal sector, organizations like the Association of Corporate Counsel (ACC) have given new voice and clarity to the conversation about value. In fact, the ACC’s Value Challenge issues a clarion call and explains the elements of value as defined by in-house buyers of legal services. You can check out those elements and learn more about them at http://www.acc.com/valuechallenge/.

In response, West Virginia-based Steptoe & Johnson, a major player in the energy and other critical sectors across KY, OH, PA and WV, is rolling out a new brand program that puts the challenge at the heart of its internal and external communications. A “re-skinned” Web site (http://www.steptoe-johnson.com/), internal training and supporting new business pitch materials are organized around the ACC’s essentials of value: Relationships, communication, budgeting and staffing, knowledge sharing and results.

While these five essentials touch many parts of the legal service model, cost containment, cost certainty and the broad notion of value for fees are at the core of the ACC’s challenge. Much ado has been made of the broken model for many years with little traction made in the effort to bring real change. However, some say that we are in “the early stages of a seismic shift in the traditional cost and delivery model for legal services.”

What’s the best way to understand and get ahead of the shift?

1. Talk to your clients (see tips for doing so in this recent post on client feedback). Note: If you listen hard enough, you may find that value is a pretty simple proposition.
2. Make real change, advancing with small steps if need be, based on what you’ve heard.
3. Align your communications with the actions you’ve taken. Just like Steptoe.

And remember, a brand is an identity based on a promise of value different than others; that is, there’s a clear opportunity to stand apart in the minds of corporate counsel, but it’s unclear how long that window of opportunity will remain open.