Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Marketing the Law FirmLJN NewslettersNewsSections

The Voice of the Client: What Loyalty Gets You

By Bruce D. Heintz
September 26, 2013

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:

  1. Continued engagement (purchases) ' especially if problems occur
  2. Unwillingness to switch ' especially if presented with competing offers
  3. Willingness to recommend ' or, better, to proactively promote
  4. 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!

This premium content is locked for LJN Newsletters subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
The DOJ's Corporate Enforcement Policy: One Year Later Image

The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.

Use of Deferred Prosecution Agreements In White Collar Investigations Image

This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.

The DOJ's New Parameters for Evaluating Corporate Compliance Programs Image

The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.

CLE Shouldn't Be the Only Mandatory Training for Attorneys Image

Each stage of an attorney's career offers opportunities for a curriculum that addresses both the individual's and the firm's need to drive success.

A defendant in a patent infringement suit may, during discovery and prior to a <i>Markman</i> hearing, compel the plaintiff to produce claim charts, claim constructions, and element-by-element infringement analyses.