Clients are the heart of a successful law practice and attracting, engaging, and retaining clients with a more personalised, consultative approach is key.
So how do you attract, engage and retain clients in a highly competitive market? You enter with a powerful client retention strategy that differentiates against the traditional 'we bill by the hour' practice.
Traditionally lawyers bill their hours as per the requirements of their firm. The more hours they bill, the more they are rewarded. Although a straightforward approach, time-tracked billing leaves little room to build a value-based client relationship, let alone manage one.
So how do you go about changing this? Take a look at the following five ways you can add value to your service to attract, engage and retain your clients.
The legal market is competitive, so when it comes down to retaining clients, adding value to your service is one way to keep them. And there is no shortage of ways in which to do this.
Clients will notice and appreciate your effort to foster your business relationship, whether it be a cross-referral of services or being open to providing some of your legal insight for free.
Always provide your client with transparent and forthcoming advice, especially when discussing its merits. Failure to do so can create or foster unrealistic expectations.
If you cannot meet their expectations, you'll soon find that they will ultimately be dissatisfied with both the result and the service.
While there, take the initiative to explain concepts clearly to your client. Although legal terms and processes may be familiar to lawyers, they are often foreign to the client.
The age-old adage, under-promise and over-deliver, never fails when the objective is to retain client loyalty.
Remember that first impressions count, so ensuring the initial client meeting goes exceptionally well is crucial. Be forthcoming, but also employ empathy when getting to know your client. You want them to leave that office confident in your abilities.
Listen to hear before listening to speak. A genuine interest in understanding a client's needs can help a lawyer provide meaningful, directed and strategic advice.
Similarly, leading your clients through their cases with a partnership approach will secure the development of mutual interest. Doing so makes the client feel valued. They want someone to care just as much as they do. Do that, and you'll gain their loyalty.
Be uniquely you. And remember that honesty and integrity are traits of value. Lawyers are open to sensitive information that can impact their clients' lives when dealing with their cases. A lack of honesty and integrity devalues their trust and loyalty.
It pays to keep in mind that no one is above the law, and just because a lawyer may be fluent in legislation does not mean they get to break or abuse it. Clients need to trust that the professional they engage in acting on their behalf will do the right thing.
We live in a digital world. Therefore it makes sense that law firms utilise tools that can view, track and manage current and potential clients.
LawMaster has powerful, matter-centric search capabilities, which means you can quickly find a document or data.
Automating your law firm makes it easy to view all documents, correspondence, file notes, contact details, time spent and financial data in one place—allowing you to manage your client in a timely manner.
When working to retain lawyer-client relationships, you can do one of two things–– you can do more than your competitors at large, or you can do it better than them.
The most effective client retention strategies leverage the value-adding practices mentioned above. No matter the industry, clients expect a personalised experience wherever they spend money, and the legal market is no exception.
The functionality of LawMaster's integrated and feature-rich legal software allows you to automate the client transition from new client enquiry to client loyalty.
Contact us today to learn more about how LawMaster's innovative solutions can enhance client retention.