By Michael Silverstein
Legal marketers from firms large and small gathered in the downtown office of Akin Gump (and via videoconference in Century City) to hear Ms. Goodman’s presentation.
Akina has conducted extensive research regarding what in-house counsel at large corporations think about its outside counsel, and how those firms can meet the corporations’ needs. Generally, clients expect high-quality legal expertise from all their outside firms – those are the “table stakes” – and they state that firms with strong service and relationship skills tend to win their more high-profile and lucrative assignments.
So how can firms display these qualities to their clients in order to gain new business? By following Akina’s “Top 10 Trends”:
1. Convergence and “Lawsulting” – clients are looking for firms that have both legal and business/industry expertise that is directly relevant to them, and are finding great value in the counsel offered by lawyers, and are often willing to engage lawyers for counseling services while keeping commoditized legal services in-house. Investment in thought leadership activities (industry-focused speaking engagements, etc.) will pay off.
2. Platform Selling and the Audition – check in regularly with the client; approach pitches from the client’s perspective (“how can my firm assist you in solving this problem?”); create and act upon a formal client feedback program.
3. Rethinking Rates and Billing – design real alternative fee arrangements, as opposed to generally touting your willingness to consider them but never offering tangible options. Use fee conversations as a relationship-building opportunity.
4. The “Yes And” of the Individual and the Team – present clients with a compatible team of complementary attorneys.
5. Changing the Conversation – increase creativity and collaboration internally (process reviews) and externally (feedback dialogues with clients).
6. Quantifying Care and Commitment to Help – go above and beyond by proactively offering non-billable time for general advice, reaching out to clients unprompted, and rewarding clients with thoughtful client appreciation gifts (where acceptable and appropriate).
7. Character and Competence through Communication Protocol – remember each client’s personal preferences (Does this person like getting phone calls? Emails? etc.); leverage common “hurdles” to enhance the relationship through proactive delivery of superior client service (e.g. provide unsolicited status reporting on billing). The little things can yield big results down the road.
8. Playing by Procurement’s Rules – Procurement Departments are serving larger roles in choosing outside counsel, especially in RFP processes. Connect with these important gatekeepers and follow their instructions to the word.
9. Social Media Mavenhood – if your firm is focused on social media policies and not utilizing the platforms for business development, you will be left behind. Social media is here and here to stay, and your firm must embrace it.
10. Doing Good and Doing Well – clients respond to firms with similar values. Publicize your pro bono, charitable giving, and community service projects – these are additional opportunities for you to connect with clients on a personal level.
Overall, authentic relationship building combined with client-focused problem solving will raise your firm’s profile above competitors who may have similar legal expertise but are not taking the extra step to relate to their clients. Ms. Goodman suggests that firms have a “sober moment” to evaluate where they stand with respect in regards to these “Top 10 Trends,” and build on individual strengths (and address any weaknesses) to turn your clients into engaged “SuperFans.”