Law Firm Business Development
Developing a law firm in these challenging times is not for the faint of heart. You’ll have to walk the extra mile to become more relevant to your target clients.
This article gives you five tips we believe can help you pick up your lost glory and grow your law firm.
1. Focus More on Engaging With Your Clients
Most law firms want to protect their clients from accessing the services of other attorneys. This has been a norm for ages now and proved helpful to most law firms. However, based on some recent research, it has been established that being protective of your top clients cannot bar them from leaving and seeking law services elsewhere.
The secret is in ensuring they are more engaged in your business. Of course, you can retain your client for the longest time if only you provide them quality services they haven’t seen anywhere else.
The most decent and effective way to achieve this is by sharing the client’s accountability and knowledge across a dedicated team.
Update your e-mail list and segment your clients so that you provide them useful content based on their needs and interest.
It would help if you also used all the available tools to reach out to clients and show them your business values. These include general communication software, or law firm CRMs.
2. Remind Your Team to Build Relationships With Clients
The only reason your clients will stick with your law firm even during these harsh times is if you created a lasting relationship with them in the past. It takes more to keep a client, and that includes offering them value and utmost trust. You can ensure a lasting relationship with your top clients by training your attorneys to handle and relate with all clients positively.
You may have thousands of contacts on your CRM. However, that should not limit you to creating a mutual relationship with every client. You can begin small by assigning every attorney a list of clients you want them to focus on. Your email list can include some of the top clients, prospects, and Alumni to your company.
3. Sign up for Your Clients’ Newsletter
Sometimes it helps a lot to engage with your clients outside the courtroom. You want to learn more about how the clients interact in the market, and there is no simplified way of doing that like subscribing to their content. When you subscribe to your clients’ newsletter, read their blogs and press releases, you can find out if they face any problems and contemplate solutions. By staying up to date with your clients’ content, you learn more about them than what you get when engaging them in direct conversations. You can also collect valuable information from your clients’ content and use that to improve your conversation with them. This helps you prove to the clients that you understand more about the issues they’re facing, and you are more than willing to help them find reliable solutions. When you focus more on your client content, you can easily discover what may end up being an issue. You can quickly raise your alarm to solve the issue before it turns out to be a significant problem, even for other clients.
4. Research Before Reaching out to Clients
Information is critical in finding the right solutions to what your clients may be facing. The news lifespan is relatively short today. That means, what may seem relevant today may lose its meaning in a couple of days. Therefore, you want to ensure your research wide and rinse all the sources before you conclude anything. Before you can reach out to your clients, you must gather all useful information concerning the issue you want to address. Whenever there is new legislation the government has released, you want to ensure you are updated with all the details. Find out how the new legislation can affect your clients. Always remain updated with the law industry’s latest developments so that your clients don’t miss anything crucial when you represent them.
5. Up Your Pitch Game
You are aware things are getting tough for your clients financially. That means you should adopt more comprehensive footwork to come up with a fee structure for your services. Revising your fees is also another factor you want to consider when developing your law firm. Set up a close-out fee acceptable to your clients and your business. If you open your ears wide, you’ll realize that most of your clients ask common questions about your fees, services, and new legislation repeatedly. You can build a database of such FAQs and provide definite answers on time. This way, you can easily convert most of your prospects to clients and take your law firm to the next level. Another tip to keep you going; you should have someone in your organization who understands how clients negotiate for fees. Assign them the duty to come up with a fee structure that will ensure you make profits while still offering value to your clients.
When developing a law firm, it’s important to understand that your clients are the key to your success. Therefore, you should enforce the five tips we have shared here to keep your clients intact and attract new prospects to your business.
United States Supreme Court – DepositPhotos