The End is Only the Beginning
by Beth M. Cuzzone
A
client matter has come to a close. As an attorney prepares the file to
eventually be archived and placed in storage — all too often he/she
will begin to focus on wrapping up the next matter on his/her desk. However,
the end of a transaction is one of the most opportune times to keep the
dialog open with a client and identify future revenue potential.
Why is the end of a client matter one the most suitable times to generate future client revenues? There are two significant 80/20 Rules in law firm sales and services. First, approximately 80% of next year’s revenue will come from current clients through new client matters and from current clients referring other people to a law firm. The second 80/20 Rule revolves around client service. Almost 80% of clients will leave a firm as a result of poor client service. Client service is defined as intangible things like accessibility of lawyers, communication styles and billing procedures. In fact only about 20% of clients leave a firm due to dissatisfaction of results. In extreme cases of dissatisfaction, a client will file a malpractice suit against a law firm. Even then more than 70% of those suits are a result of poor attorney/client communications, not legal advice. To ensure client satisfaction, there are three major areas for you to discuss with clients: Feedback, future legal needs and non-legal services.
Obtain feedback about the ending transaction.
Usually
clients have an opinion regarding responsiveness and access of attorneys
and staff; interpersonal skills of their legal team; value
added that was provided (or not); billing procedures or the process of
the deal or matter. Be sure to ask the client when expectations were
reached and when they were not. Also be prepared to make changes to reflect
the clients’ feedback.
Ask about future legal needs.
If the client is satisfied
with recent representation then they will be open to discussing other
ways in which a firm may be able to assist
them in the further, albeit in the same practice area or other practice
areas in firm. From time to time a firm may offer a service about which
the client doesn’t know.
Identify the client’s non-legal
needs.
A firm may be able to assist
a client with a non-legal need of their day-to-day business. Perhaps
a client is looking to grow its in-house
capabilities and the attorney knows of a candidate. Or maybe the attorney
has a professional contact that may have a product or service for which
the client is seeking. Whatever the scenario, clients appreciate that
their attorney is thinking about business needs beyond what is billable.
Each “End of Matter” conversation varies on the client’s
needs at that time, but if the conversation doesn’t takes place
one may never know if the client wasn’t satisfied with a firm’s
service or if there are other ways the attorney/firm may help them in
the future.
End of Matter 7 Point Sample Survey
Sample questions:
| Did you find that during our representation: | ||
| 1. | We were accesible and responsive to you? | Yes / No |
| 2. | Our support staff had depth and was able to assist you? | Yes / No |
| 3. | The technology we use works with yours? | Yes / No |
| 4. | We met your expectations? | Yes / No |
| 5. | With what business issues are you currently most concerned? What trends or changes will affect your company’s future success most dramatically? | |
| 6. | What can we do to be more helpful to you in the future? | |
| 7. | What other issues should we discuss? | |
Beth Cuzzone is the Director of Business Development at Goulston & Storrs and a founder of the Legal Sales and Service Organization (LSSO). She may be reached at bcuzzone@goulstonstorrs.com.
Used with author's permission.
© Copyright 2004, Legal Sales & Service Organization.
All Rights Reserved.
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