Law Firm Client Relationships

Law Firms Should Double Down on Their Existing Clients By Focusing on Client Satisfaction and Retention Rates Rather Than Billable Hours and Origination Credits

New client acquisition can cost 15 times more than retaining an existing client, and yet most lawyers spend their limited and valuable time chasing new clients.

Most of the time, delayed payments are a result of actions by the law firms themselves. Let's take a look at 11 factors impacting the collection of attorney fees on a timely basis and how to avoid these mistakes.

The increasing competition in the legal industry highlights the importance of differentiation and adding value beyond the work product. Face-to-face interactions with clients are a critical component in differentiation because they provide the opportunity to understand better the nuances of clients' businesses, develop deeper relationships, and drive productive collaboration.

At its core, business development is about making authentic connections that grow into meaningful relationships. Rainmakers recognize that principle and apply an array of techniques to fuel their careers.

How the Recent Heller Ehrman Case Impacts Lawyer Mobility and Clients Choice of Counsel

The law of unfinished business, as applied to cases billed on an hourly basis, has been the subject of much commentary and case law. In Heller Ehrman, the high California court, like the New York Court of Appeals, found that a dissolved law firm did not have a property interest in hourly matters for work performed after dissolution. The case is worth exploring as it impacts, among other things, lawyer mobility and clients choice of counsel.

Many attorneys already share intellectual capital by writing articles or delivering presentations with the hope of attracting additional business. However, most individuals, and even firms, have not developed a cohesive plan to ensure maximum exposure.

The increasing competition in the legal industry highlights the importance of differentiation and adding value beyond the work product. Face-to-face interactions with clients are a critical component in differentiation because they provide the opportunity to understand better the nuances of clients' businesses, develop deeper relationships, and drive productive collaboration.

Years ago, when trying to improve some of my snacking habits, I stopped buying cookies, candy and savory chips. Magically (and perhaps obviously), I quickly found that I ate less junk food. In effort to find a few more minutes a day for marketing, I recently applied this same basic, but effective, technique to my time management and the results have been just as immediate.