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The Voice of the Client: What Loyalty Gets You
Law firms say they are committed to achieving high levels of “satisfaction & loyalty” from their clients. But, what is loyalty and why strive for it? In other words, what does client loyalty get you, in concrete, money-in-the-bank terms?
Let's begin with a definition of loyalty, in the context of a professional services firm in the business of serving any one of its large corporate clients. Loyalty can be viewed as having four components:
- Continued engagement (purchases) ' especially if problems occur
- Unwillingness to switch ' especially if presented with competing offers
- Willingness to recommend ' or, better, to proactively promote
- Willingness to spend more ' on the same product and/or other products.
Immediately, an observation arises: All types of loyalty lead to more revenue for the firm!
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When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.