Do not be blinded by the sparkle of new business
By David Kirwan
The real issue for firms should be how to differentiate themselves when it comes to attracting repeat business, says David Kirwan
Legal aid changes, the Jackson reforms, and a tough economic landscape have combined to put even greater pressure on legal services to generate new business.
With an openly competitive market, clients now have the ability to 'shop around', and law firms are fighting tooth and nail to attract new customers.
However, with the emphasis on new business, many lawyers are missing a trick - by losing sight of the customers they already have.
Pulling in new clients is all well and good, but the real issue for firms should be how to differentiate themselves when it comes to attracting repeat business. To that end it is vital that we as a sector continually assess not only why clients would choose us in the first instance, but more importantly whether our offering is attractive enough to make them return.
At my firm, we take great pride in our ability to retain clients. In 2013 alone, over 30 per cent of all new matters were from repeat business. Client recommendations were also high on our list for sources of new work.
There's no magic formula to this success. It's all about putting the client first - a key element that sometimes becomes lost in the pursuit of fees. Other important factors include:
1) Understanding the client's problem: Get to the core of it, and quickly. No problem should be too immense or difficult for most solicitors to tackle. There is always a solution at the end of the day although it may be a difficult pill for the client to swallow.
2) Managing expectations: Address the client's aspirations, be transparent and honest, and if necessary lower them against the possible outcome.
3) Soothing conflict between lawyer and client: Nip this in the bud by telling clients at the conclusion of every initial meeting: "I will tell you not what you want to hear, but rather what you need to hear." This works wonders in terms of creating a rapport.
4) Assuring them: Simply assuring clients that you are on board is important, but so often forgotten.
5) Keeping in touch: We use a number of tools to reach our clients, even if they no longer have a legal matter with us, from regular news updates and social media to networking and seminars.
6) Staff: People relate to people and successful client relationships are often built on trust, not only in your brand, but in those who represent it.
As I said, there is no magic formula, just years of experience of dealing with clients from all walks of life, and a determination to make their experience with us a positive one.
David Kirwan is managing partner at Kirwans
www.kirwanssolicitors.co.uk