Clients turnover is a real phenomenon and an existential threat to small law practices. According to recent research, a significant majority of legal clients change their lawyers every year or two. Thus, if a firm is not gaining new clients at at least a replacement rate, its business is bound to decline inevitably over time. In today’s competitive marketplace, there can no higher priority for a legal practice than providing the kind of service that ensures clients are not only retained, but actually eager to send referrals.
Optimal client service is a powerful profit-making opportunity that doesn’t require a huge marketing budget or business-development staff. Our friends at Thomson Reuters have put together a valuable and free white paper, 5 Steps for Litigation Firms to Prove their Value to Clients and Increase Profits.
This 5 Steps paper will offer guidance and insight on the following topics, among others:
- What success looks like to clients so you give them what they want most.
- The crucial role of responsiveness and clear communications
- The importance of knowing how much work you must do for each billable hour.
Mastering the insights of the 5 Steps will create more bandwidth to touch base with clients, work on strategy, and handle the details that advance matters. As a result, every client will feel like their matter is of the utmost importance, thereby fostering loyalty and great word-of-mouth.