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Firms have been especially deliberate during the pandemic to increase the number of touch points they have with existing business, deepening ties with their roster of current clients by referring matters across practices and rewarding partners for that kind of origination. But with marketing spend surging and clients increasingly willing to move work around, Big Law firms' incumbent advantage could begin to wane.
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In this marketplace, one thing is abundantly clear: To remain competitive, you must adapt. So how can you adapt in a way that meets the increased expectations of today's client? Focus on client experience.
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a tendency to trust optimizes outcomes on average — but you have to think in individual transactions. Are lawyers too distrusting to make good decisions in those instances? This article explores the concept of trust, the impact of trust on cooperation, and whether lawyers have trust issues and what that means for them and for their clients.
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Law firms must continuously review business and legal processes to operate and interact with less waste and costs and develop pricing models that address client needs while generating profits for the law firm. This is actually simple, but not easy to do.
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In this marketplace, one thing is abundantly clear: To remain competitive, you must adapt. So how can you adapt in a way that meets the increased expectations of today's client? Focus on client experience.
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The adage is true: Actions speak louder than words, and active participation and engagement are critical for fostering real change. Your clients demand it, your competitors are doing it, and your attorneys and staff want it. This is how we will be measured.
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The promise of new client relationships is driving the vast majority of lateral partner movement today. Is there a way to accurately project which clients of the candidate will move?
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While many attorneys know referral partners are an integral piece of their career, they don't take the time to build authentic referral relationships. To their current and future detriment, they don't make quality referral relationships a priority.
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We're well into 2022, and despite the flip of the calendar, COVID is still sweeping the U.S., it feels like not much has changed. Or has it?
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There is no way to guarantee a lateral's clients will make the move to a new firm. But a series of questions can examine the quality of these relationships and the likelihood that the client will move with the lateral candidate.