There is no solution to ensure your law firm customer base can grow exponentially annually, however, the 80/20 rule is as good a gauge as you’ll get. This rule basically says 80% of your firm’s future revenue will return via 20% of your existing client base. That’s right, your existing customers can make or break your law firm. Client retention, client satisfaction and loyalty can make a huge difference in your revenues. No where does that prove more true than for a Charleston DUI lawyer. It’s still necessary to grow your customer base, however most of your non-billable time or investment time ought to concentrate on keeping your law clients happy.
To add some real value to the services you deliver to all your clients, you need to learn your client’s preferences regarding many issues they encounter on a daily basis. Value, is outlined by what’s delivered to your client that he or she doesn’t pay to receive. Sound advice, you and your partners accessibility, the responsiveness of the law firm, and current marketing data become baseline standards in the law industry. So, your law firm should dig deeper to find out the needs regarding the expectations of current and future clients. Ask yourself a few of these questions to get a better understanding of how to keep the client happy.
- Do your clients expect that they receive weekly updates?
- Do your clients expect to pay by the hour, or is there a price set in place for all work done?
- Does the client clearly understand all the services that your law firm provides?
- Are you expanding services by bringing in new partners to the law firm?
Each answer to those straightforward queries might have an effect on the way you deliver value to your client. The 80/20 rule begins to slowly erode once the client expectations change, however its law firm’s unique business obligation make changes on the fly.
To close the gap between expectations and legal services provided to the client, lawyers and local law firm offices of all sizes have instituted a straight-forward approach to conducting client interviews. If you are in touch with the client on a regular basis without having to be prompted on a weekly basis, you will be in the best position to understand the changing needs of the client and adjust accordingly. This open communication need only take a few minutes of your day, but can have long lasting and far reaching positive benefits to the law firm future. The client will not only be a more happy client, they will in turn help spread the word about your practice more readily and easily.