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WHAT DOES WORK IN THE RED ZONE II.
January 18, 2008
WHAT DOES WORK IN THE RED ZONE II. This second in a series will focus on tactics to enhance client relationships leading to future business development for your law firm. One of the highest compliments you can pay to your client is to refer business to them. From a law firm marketing point of view, this may be the second best technique to generate expanded engagements, the first being to perform the highest quality of work.Cross-selling your clients to each other is another smart way to bring good clients together. First of all, they might have business opportunities to discuss. And second, they may also discuss what great work you do for them. In either case, everyone wins and you keep building a future pipeline of work.Third, if you have multiple clients attending a firm workshop, or a bar association or business association meeting, make sure you spend time with each. Don't make the all too common mistake of letting your clients and potential leads stand around like wallflowers. Identify ahead of time who will be attending and ask if you could introduce them to one of their colleagues in another company.Summarizing, what does work in the Red Zone is to acknowledge your clients' businesses by: * Referring business * Cross selling * Bring them together at workshops.Next time we'll discuss maximizing the impact of client meetings.Allan Colmanthe Closers Groupwww.closersgroup.com
WHAT DOES WORK IN THE RED ZONE II. This second in a series will focus on tactics to enhance client relationships leading to future business development for your law firm. One of the highest compliments you can pay to your client is to refer business to them. From a law firm marketing point of view, this may be the second best technique to generate expanded engagements, the first being to perform the highest quality of work.Cross-selling your clients to each other is another smart way to bring good clients together. First of all, they might have business opportunities to discuss. And second, they may also discuss what great work you do for them. In either case, everyone wins and you keep building a future pipeline of work.Third, if you have multiple clients attending a firm workshop, or a bar association or business association meeting, make sure you spend time with each. Don't make the all too common mistake of letting your clients and potential leads stand around like wallflowers. Identify ahead of time who will be attending and ask if you could introduce them to one of their colleagues in another company.Summarizing, what does work in the Red Zone is to acknowledge your clients' businesses by: * Referring business * Cross selling * Bring them together at workshops.Next time we'll discuss maximizing the impact of client meetings.Allan Colmanthe Closers Groupwww.closersgroup.com
Top 5 Strategies for Managing the End-of-Year Collections Frenzy
End of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.
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Law firms and companies in the professional services space must recognize that clients are conducting extensive online research before making contact. Prospective buyers are no longer waiting for meetings with partners or business development professionals to understand the firm's offerings. Instead, they are seeking out information on their own, and they want to do it quickly and efficiently.
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Sink or Swim: The Evolving State of Law Firm Administrative Support
The paradigm of legal administrative support within law firms has undergone a remarkable transformation over the last decade. But this begs the question: are the changes to administrative support successful, and do law firms feel they are sufficiently prepared to meet future business needs?
Tax Treatment of Judgments and Settlements
Counsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.