* Building a Profitable Pipeline
* 4 Major Changes for General Counsel and Their Law Firms
* Client Retention – Dancing With the Stars.
* Building a Profitable Pipeline
In our firm’s Client Retention Survey (U.S. and Canada) last year, we asked:
” IF YOUR FIRM WAS TERMINATED BY ONE OR MORE LONG-TERM CLIENTS IN THE PAST 3 YEARS, WHY? (Could designate more than one answer).
64% Their situation changed (including the relationship attorney
leaving the firm)
21% They became dissatisfied
9% The client never told us (can you believe this one?!)
6% Lack of contact by our attorneys.
These results, combined with the survey by BTI Consulting and from Jay Abraham’s book, point to what the 3 RULES OF CLIENT RETENTION are:
To schedule a 3 RULES OF CLIENT RETENTION Workshop at your firm or association, contact me at firstname.lastname@example.org
Dancing With the Stars : Client Retention
Sep 8 2014
A summary of my article which appeared in the August, 2014 edition of Marketing the Law Firm.
For those focused on increasing sales and client retention, DWS offers an important lesson: the work that you do behind the scenes is every bit as important as the time you spend in the spotlight. Here are some suggestions that will help you focus your client retention efforts to better ask for and ensure future sales:
* Know what’s working and what could be better – DWS contestants constantly build on their past performances;
* Focus on more than just what you are doing now. Think about that next dance routine and what can be added to make a real impact;
* Keep adding benefits to your services, [and performances];
* Participate rather than just attend. The dance is a major part of the score; but the competitors’ interviews and commentary add to their winning chances;
* And while you are dancing around the floor at a client sponsored fundraiser, don’t forget to thank the client for inviting you to such a great event.
Remember, when it comes to client retention, clients are both the audience and the judges. The more that you prepare, the better your performance will be.
In addition to the 4 previous points made in BTI Consulting’s study, clients continue to find these additional issues:
* APPARENT DISREGARD for client’s budgets (can you believe this?);
* BORING PITCHES that talk about firms, not clients;
* NOT REPLACING a relationship partner with bad chemistry;
* “GROUNDHOG DAY SYNDROME”, that is repeating the same work over and over.
NOW that the reasons for losing clients have been provided by marketing experts, Jay Abraham and BTI Consulting, the next column will reveal the reasons clients are terminating law firms based on our own firm’s U.S. and Canada survey of Client Retention.
In today’s column, we will expand on Jay Abraham’s “Understanding Why Clients Leave” and add other reasons clients terminate long-standing relationships from a study by BTI Consulting.
* DECISIONS without authorization;
* NON-RESPONSIVE to requests for changes in billing;
* FAILURE to respond to requests for help with additional practice
* CAPACITY-BOUND partners.
In our Group’s experience, lack of attention to client retention is a primary reason firms are terminated. Once we have identified the negatives, our column will shift to the steps needed to build client confidence, trust and retention.
TODAY we are starting a new blog series on Client Retention. Whether competition, economy or new GC’s and business executives are facing you, working on retaining clients should be foremost in your mind.
UNDERSTANDING WHY CLIENTS LEAVE is a component of Jay Abraham’s “Getting Everything You Can From Everything You’ve Got.” He cites three primary reasons why client leave relationships:
* LACK OF CONTACT leads to their forgetting about the relationship;
* THEIR SITUATION CHANGES;
* THEY BECOME DISSATISFIED.
IN the following columns, we will provide more depth to each of these clues to where you must spend more attention. The investment will be well worth it.
Concluding our 4 stanzas re: Asking For Business —
LEARN the most effective client relations techniques in the business and distinguish your team from the rest of the field.
THE CLOSERS GROUP will share its proven strategy for effectively out maneuvering the competition and closing the deal.
This is the third of four stanzas in Asking for Business.
YOU are now in the Closing Zone.
SUCCESS is in sight.
THE CLOSERS GROUP knows general counsel and senior executives and what keeps them up at night.
WE WILL SHARE our proven strategies for effectively out maneuvering the completion and closing the deal.
Our next time will bring all 4 Closing Zone themes together.
Here’s the second stanza to our last column – Business Development Challenges.
IN AN expanding pool of competition, it is increasingly difficult to stand out.
TO CLOSE the deal you need to stand above the competition.
IN A crowded forum of digital media, your firm’s voice must be heard clearly above the rest.
GAINING the competitive edge is critical to success.
The third of fourth stanzas follows in the next blog.
YOU are competing in a tough market
and have held your own against spirited competition.
YOU are now ready to grow and take on more engagements
. . . but your key prospects are not ready to close the deal.
CLOSING the deal in a strong market is tough enough.
BUT your firm now faces other challenges as well.
The second stanza follows in our next blog.