Write better content. Easier said than done, but this is key to long-term success on the web. Even if it means writing less content, make sure that every article or blog post on your website has substantive, interesting subject matter that is optimized for search engines. No more keyword stuffing, no more white text on a white background, and no more buying links. Get back to the basics.
Do an SEO audit. Remember the old days of your website when you added tons of content without thinking much about the quality? It's time to clean that old content up! If you have a marketing assistant or intern, have them go through old pages on your site to make sure they are linked to other pages within your website and aren't stuffed with keywords.
Be patient. If your website has been dinged by Google recently, take a deep breath. You will recover from this with a fresh approach to your web marketing. But as you write better content and re-optimize old pages, remember that it will take time to rank high on search result pages. Why? Because Google needs to see that people like these pages by tracking time spent, bounce rate, and inbound links. That data doesn't accumulate overnight.
It's true that Google Panda has presented a hurdle for many businesses. Be one of the leaders of the generation of web marketers. If you are paying close attention to updates and changing your site accordingly, you'll come out on top in the end. For more information on marketing your firm on the web, get a free copy of Tom Foster's book 5 Mistakes 99% of Lawyers Make.