Business Relevance: The Key to Client Satisfaction and Account Growth

LSSO's webinar, "Business Relevance: The Key to Client Satisfaction and Account Growth," got high marks for both speakers and content this week. LSSO member, Patricia O’Toole from Robinson & Cole says it provided “Relevant insight into the concepts of sales and account management from the corporate world.” Beth Cuzzone, Director of Business Development at Goulston & Storrs reports: "Full of practical tips and advice. Time well spent."

If you missed it, you still have a chance to hear Mike O’Horo (“The Coach”) and Darryl Cross explain how to guarantee your lawyers’ “business relevance,” and earn the preference of these valuable clients who insist that you be much more than a technically competent lawyer.

70% of corporate counsel are dissatisfied with their primary law firm, and half say they plan to try a new law firm, according to a BTI study (How Clients Hire, Fire and Spend: Landing the World’s Best Clients) cited in the September 8th ABA Journal eReport “In-House Counsel Axing Law Firms.” The reasons? Pretty simple, according to the study. The law firms:

- Fail to keep up with clients’ changing needs.
- Do not articulate the value they deliver. 
- Do not communicate well with clients.

Click here to replay the webinar

So, how do you make sure that you’re in the 30% instead of the 70%, or if your firm is on the outside, that you’ll be successful with the 50% who say they’re receptive to your sales overture? Here are some of the tactics addressed in LSSO's webinar:

- Commit to “business relevance”
- Stay informed about companies and industries
- Be proactive!
     · Don’t wait for the survey; talk to people…
     · Align your goals with client’s

Things you can do tomorrow:
- Ask clients how THEY keep informed about industry and business
- Introduce clients to other clients who are potential customers, investors, alliances
- Buy client’s stock
- Monitor the industry; make this activity part of performance standards
- Link the firm’s performance standards to your client company’s success

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