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Best Ways to Expand Key Client Relationships
This two-part article defines the specific and best actions lawyers and law firms can take to expand client relationships. The first part, which described actions individual lawyers can take to expand client relationships, was published last month. This second part covers what law firms as institutions can do to help the firm's departments, practice groups, teams and lawyers 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. 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). 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.”
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