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This article defines the specific and best actions lawyers and law firms can take to expand client relationships. This first part includes specific actions individual lawyers can take to expand client relationships.
It is well-established that it takes much more time, money and effort to get a brand-new client in the door than it does to get more work from an existing client, where a relationship of trust is already established. See, “Don’t Spend 5 Times More Attracting New Customers, Nurture the Existing Ones,” Forbes.com. Yet, for a variety of reasons, many law firms and lawyers struggle to effectively cross-sell or cross-service (defined as expanding the type or amount of work done for any individual client). See, ““Cross-Selling Sucks.” Here Are 18 Reasons Why. (Part 2),” Fishman Marketing. In fact, Michael Rynowecer says “BTI research reveals the typical law firm has only 23% of a client’s work available to them” and “clients often wonder why law firms and lawyers don’t spend more time and effort trying to get more of their business.”
By Jennifer S. Bankston
One of the most effective components of legal marketing is thought leadership content. With today’s available palette of media tools, law firms are able to design, build and customize the content that their client’s experience like never before. Ensuring that this “content experience” is profound and impactful is a necessary and critical endeavor.
By Eric Dewey
Requests for discounts have become a routine step in the legal services purchasing process. Lawyers face the uncomfortable task of defending their billing rates in both RFPs and client pitches. But too often, lawyers don’t make an effort to resist giving a discount when asked. Mostly because they haven’t been trained in how to do it.
By Marcie Borgal Shunk
In an era of “what’s in it for me,” leaders seeking to ensure the long-term well-being of the firm and its talent often find change initiatives especially challenging.
Sometimes, we over-engineer solutions. And most often, we don’t need to.