Lawyers must first establish a custom-made plan to generate new clients for their unique practice before they begin to seek to generate this new business. This is the vitally important message contained in a recent article by Julie Savarino.
In that article Savarino observes that one of the most important missing ingredients required to produce new clients in firms is a formal process to support and drive profitable organic growth (i.e. new client mandates).
As she explains: “The fact is that without an organized client development program that includes well-planned and coordinated, direct, personal or face-to-face communication with clients, prospects and referral sources, the chances of generating measurable new business from any pure marketing tool (conversion rate) are not great. Consistently developing quality new business in a law firm is a process, one that takes considerable time, focus, patience, skill, persistence, systems, processes, and procedures to implement successfully and cost-effectively. This sales or client development process begins and ends with in-person, face-to-face contacts with one individual or a small group of individuals” (i.e., decision-makers and influencers).
I would note that in today’s world these face-to-face meetings can be conducted by video call.
Savarino notes the vital importance of these meetings and how studies have shown that 98% of all new legal business that is awarded – is done so during or shortly after these meetings. These meetings establish that the lawyer has demonstrated that they are worthy of the trust and confidence of the client. That they have demonstrated the credibility and shown the interest and expertise capable of sophisticated representation unique to the client.
Put in place a client development system custom-tailored to your practice
Savarino’s article is one which any lawyer should read to understand how important it is for a lawyer to put in place a custom plan to develop business for their practice. They should also ensure they learn all the elements of that plan for it to be maximally successful. Among the elements of any plan include prospective client identification, effective pursuit of potential clients and all the relevant methods of doing so. Further, the best means by which to discuss representation and negotiate remuneration.
Lawyer Business Development Coaching
I help lawyers develop personal business development plans custom-tailored to their unique practices — via one-on-one video or audio coaching sessions. My experience includes hundreds of face-to-face meetings with prospective clients on behalf of law firms – where I helped clients realize how lawyers can help them achieve their commercial objectives. These meetings first required me to identify client needs – reaching out to those prospective clients and securing meetings with them on behalf of my clients and succeeding in securing those meetings. And shepherding those relationships to becoming new client engagements. For more information about how I might be able to help you build your law practice, please complete the form below and I’ll contact you promptly.
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