Authored by Taylor Moore
According to Marci Taylor, if it was challenging to get face time with clients pre-pandemic, that challenge has only multiplied in the post-pandemic world.
Eighteen months into the pandemic, law firms are strategically tackling how to reconnect with their clients, considering the reality of the post-pandemic market. The age of in-person meetings is nonexistent and replaced with zoom meetings making client relationships more challenging, thus hindering customer satisfaction and the profitability of law firms. How will law firms overcome these challenges to ensure loyalty and sustain client retention?
Taylor suggests that reconnecting with clients through client feedback initiatives by gathering data through interviews and surveys will help protect your firm's profits and maintain its reputation. Furthermore, this client retention strategy is not new to larger law firms (250+ lawyers). The legal industry data suggests that approximately two-thirds of larger firms already have formal client interview programs in place that focus on client satisfaction and help identify opportunities to deepen their relationships. However, smaller firms may not have this luxury due to partner pushback or unvoiced financial constraints. With that said, firms with high growth opportunities that prioritize client feedback have found success by discovering client cross-selling opportunities.
If your firm has not already implemented client feedback initiatives, here are few reasons why you should:
- Referral Opportunities: When existing clients appreciate what you do for them, they will be more inclined to pass the word along.
- Loyalty and Profitability: According to the work of Frederick Reicheld (father of Net Promoter Score), the law firm's that focus on client satisfaction experience more growth and are more profitable.
- Identify Service Issues: Without feedback, how would your firm identify quality or service issues? Better to find out through feedback rather than see your book of business slip away.
Client feedback initiatives provide your law firm with meaningful insight that may be vital to its expansion, retention, and ultimately the satisfaction of your clients. As your firm continues brainstorming strategies for client engagement, consider embarking on client feedback initiatives: those who feel heard stay, those who don't stray.
To read more, click here to read Marci Taylor's article on Law.com.
With all that said, Advocate Capital recognizes that firms may experience difficulty obtaining access to capital considering the challenges of the post-pandemic world. If your firm wants to implement client feedback initiatives to give your firm the edge it deserves, consider Advocate Capital. We believe in helping plaintiff lawyers getting even better results for their clients.
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