Gone are the days when attorneys could expect to gain recurrent and profitable business by marching into a meeting with a clients or prospects, throwing a book of qualifications and representative experience at them and talking ad nauseam about themselves.
“Quality and technical expertise are now table stakes,” said Deborah Knupp, a partner at Akina, who presented “Top 10 Trends in Law Firm Business Development” at LMA Midwest’s Chicago luncheon on May 23. If you’re already engaged in discussions on providing legal services, assume you’re qualified to get the work and that your qualifications were your ticket to that conversation, Knupp said.
As client loyalty is being tested in a more competitive legal marketplace, attorneys, instead, need to focus on building authentic relationships and solving business problems, even those beyond the legal realm. Although many of the 10 trends Knupp discussed “seem like common sense, for some reason our firms are not grasping these as common practice … the bar for excellent client service is still very low,” she said.
Knupp encouraged legal marketers to join the “revolution” in client service, where unreturned client phone calls, the unpredictability of legal fees and the like will no longer be tolerated. After all, “your firm’s clients are other firms’ prospects,” Knupp said. “And [clients] who are in love don’t leave.”
The 10 Trends
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Converge and ‘Lawsulting’ – Clients want to know you understand their industries and how industry developments impact their business. Attorneys should become involved in industry associations to take a more consultative approach as business counselors to their clients.
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Platform Selling and the Audition – Before going into a client pitch, simulate your client. Treat the opportunity like a case study. The conversation should focus around the client, not the lawyers or firm. Instead of sending big, thick pitch books, consider a short discussion map to work through visually.
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Rethinking Rates and Billing – Nearly every firm has stock language that mentions they offer alternative fee arrangements. That’s no longer enough. Clients should be offered specific examples of AFAs during discussions on value billing and risk mitigation and sharing. Fee conversations can be a great relationship builder.
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The ‘Yes And’ of the Individual and the Team – Clients want to see a true team working on their matters. Clients are punishing cultures of individualism at an accelerated rate. This includes senior partners playing up young talent during pitches, as clients like to see the new generation shift in change.
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Changing the Conversation – Take conversations with clients beyond the immediate matter at hand. For example, offer to perform general business reviews with your clients or host an “innovation tournament” in which lawyers and company leaders gather for “brainstorming sessions on steroids.”
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Quantifying Care and Commitment to Help – Schedule unprompted communications with clients and make proactive investments in non-billable time to show client appreciation. Make them feel human with simple things, such as a small gift, which show courtesy, kindness and attention.
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Character and Competence Through Communication – You clients have preferences, why wouldn’t you tailor your approach? Ask their preferred method of communication and how they prefer to be billed. Is it monthly? … quarterly?
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Playing by Procurement’s Rules – Many marketers dislike playing by procurement’s rules. But it’s a reality to adapt to. If you’re not in cooperation and completely filling out their cumbersome templates and spreadsheets, you’ll lose out. (Pretty doesn’t work with procurement).
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Social Media Mavenhood – From LinkedIn to blogs and bios, there are so many good outlets for credentialing and increasing visibility via social media. Create a regular editorial calendar around social media and inform attorneys on its importance.
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Doing Good and Doing Well – Pro bono, service projects and charitable giving is expanding as a form of cause marketing.
Missed the session? You can listen to a full webinar recording here.