On October 15th, LMA Midwest at Chicago held a luncheon entitled: “Aligning Client Feedback with Competitive Intelligence: How to Find Clarity and Focus Through the Eyes of the Client.” The panel included Christa Cane, Chief Client Development and Marketing Officer, Loeb & Loeb; Kristin Sudholz, Chief Value Officer, Drinker Biddle & Reath; and David Sheppard, Director of Client Development, Sidley Austin. The luncheon was sponsored by Gittings.
Client Feedback
The panel discussed business development and the importance of client feedback by using client intelligence. Fifty-two percent of law firms do not seek client feedback. Those that conduct client feedback interviews discovered that their clients found the process to be very beneficial. Some of the quotes from clients included “what took you so long” and “we think this will be very valuable information for your firm.” Those on the panel believe that clients are now beginning to expect the opportunity to give feedback. It is their belief that more and more firms are doing it, some in more sophisticated ways than others. A law firm’s existing clients are their base—thus it is essential to get client feedback in order to maintain and grow the relationship.
Most law firms do not make these interviews mandatory for their attorneys. Most believe that the results are so powerful and successful that once lawyers engage in the interview process and see the results, they realize how invaluable this process is. Many say “I know my client,” which is most likely true, but there are always ways to make a relationship even better.
Some firms outsource their client feedback programs, while others do it in-house. Some have executive partners – those on their management committees – visit their clients onsite. Either way, the key to benefitting from your findings is to act on your results. If your firm is not willing to take action on what your client says, don’t ask the question.
Competitive Intelligence
Competitive business intelligence is knowing everything there is to know about your client’s business, including strategy, personnel, execution, structure, goals and competition. Investigate who they hire for different types of projects. Learn about their relationships. How can you break in? And if you are already “in,” how can you get even more business? How can you solve their problems? Use this “intelligence” data for “opportunity spotting.”
Remember, this is not a pitch. Focus these meetings on the needs of the client and how your firm can best serve them. The client should drive the agenda. Listen. The client may love the firm but still have issues. They might have a problem with billing. Perhaps they really like all but one associate or partner. Listening to their feedback is invaluable.
Add value. Nothing is more valuable than talking to the client. Look for ways to improve the process and improve communication. Engage your client in the process. Really powerful information can come from these interviews. Some are very frank and can be hurtful, and some can come back negative. But knowing these issues and fixing them will bring great success.
Once you know the issues, set up a new meeting to fix them. If it’s billing, bring it to the firm’s CFO. If it’s communication, bring it to the attorneys. Do whatever you can to make things run as smoothly as possible. Use this competitive intelligence to grow your business.
About the author: Sheri Wolfe is the Marketing Coordinator of Traub Lieberman Straus & Shrewsberry LLP, a national firm with six offices and close to 100 attorneys. Sheri’s primary focus involves coordinating offices and attorneys with their client development strategies, exploring opportunities for new business as well as expanding work with existing clients.