Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Best Ways to Expand Key Client Relationships from the Lawyers' and Firms' Perspectives
It is well-established that it takes much more time, money and effort to get a brand-new client in the door than it does to get more work from an existing client, where a relationship of trust is already established. See, “Don't Spend 5 Times More Attracting New Customers, Nurture the Existing Ones,” Forbes.com. Yet, for a variety of reasons, many law firms and lawyers struggle to effectively cross-sell or cross-service (defined as expanding the type or amount of work done for any individual client). See, ““Cross-Selling Sucks.” Here Are 18 Reasons Why. (Part 2),” Fishman Marketing. In fact, Michael Rynowecer says “BTI research reveals the typical law firm has only 23% of a client's work available to them” and “clients often wonder why law firms and lawyers don't spend more time and effort trying to get more of their business.”
This article defines the specific and best actions lawyers and law firms can take to expand client relationships. It will be published in two parts. This first part includes specific actions individual lawyers can take to expand client relationships. The second part will cover what law firms as institutions can do to help the firm's departments, practice groups, teams and lawyers expand client relationships.
Listen
On a practical level, what are the best, most proven actions an individual lawyer or practitioner can take in order to expand client relationships and cross-sell/service more effectively?
The most important thing for every lawyer to do to identify opportunities to expand relationships is to be a great listener. Being a great listener is not easy to do, especially for natural introverts (most lawyers, accountants and other highly educated professionals are natural introverts). Generally, natural introverts have a lot going on in their brains, and as a result they tend to both listen selectively and make many assumptions without being aware that they are doing so.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- 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
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.