Accessibility and credibility are key to local success
Choose familiar referrers and intermediaries to secure trust and invest in raising your profile, says Clare Trippier
Commoditisation, mergers and acquisitions have become commonplace but to many people, traditional, accessible and local law firms are still a necessity. They are preferable to faceless conglomerates or international groups that gobble up household names that have been part of their community for years.
That goodwill is fantastic but competition for work has never been fiercer. Price, service and results are – of course – vital, but over the past few years, we’ve come to realise that having solid relationships with local referrers and intermediaries has been key to our survival and ongoing success.
Many law firms have tried to compete with the new kids on the block, failing to understand their own networks and what drives loyalty and trust among potential clients. To me, as a business development professional, this is a fatal mistake as ultimately it has an impact on revenue. Building and maintaining rapport and mutually beneficial relationships is now central to our business but that goes two ways.
We have strict criteria when working with referrers and intermediaries: we only recommend people or companies that we know will look after the best interest of our clients – and we expect the same in return. Good referrers are built on relationships and not dependent on a financial return. We do not take payments or make payments for referrals.
We are lucky as most of our new clients are recommended into us with the majority coming from IFAs and accountants. People often ask why they are the best source of leads. The answer is simple: it’s because those kinds of advisers meet clients regularly so can identify their concerns and issues quickly. Trust is everything and they trust them to trust us.
The key advantage to the referrer is piece of mind as they know their clients are getting the best advice and being looked after. It also means less hassle for them and better communication as each party is geared up and working together to achieve the shared client’s goals.
As well as IFAs and accountants, we also work closely with estate agents, banks and funeral directors. That breadth of diversity means that departments across the whole business benefit so it’s not simply restricted to our commercial or employment teams. We always take the view that relationships drive engagement and that internal referrals are essential to maximise every relationship we nurture.
Forging those introductions and leads can be challenging but we put a lot of effort into our own profile. We invest in PR, regularly attend networking events, sponsor business awards and have a presence at sector-specific conferences across the north-west. We also have regular (usually monthly) meetings with each of our referrers and intermediaries and we visit joint clients together.
Since focusing on this, we have been able to break into different areas and really drive our market-share in others. It sounds basic but the working day often sweeps you away so doing the fundamentals right can be overlooked. It just takes good management and a clear strategy. SJ
Clare Trippier is business development manager at Clough & Willis Solicitors
www.clough-willis.co.uk
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