by Robin Dicks | Jul 5, 2017 | Robin's Blog
A recent analysis conducted by Lexis Nexis and Cambridge University’s Judge Business School made for somewhat disturbing reading. The results suggest that even across the biggest clients of firms, key contacts believe their relationship partners and firms serving them have only a superficial knowledge of their business. The report notes that “All clients were uniformly of the opinion that not only do the law firms not provide relationship services, in many cases they do not seem to see the need.” This is causing some clients to look elsewhere for advice. Given this is a substantive risk to firm revenue, the authors recommend that firms stop focusing predominantly on a transactional approach to key clients and instead instil “a sense of partnership where the client feels valued and protected.” Do you know how clients view their relationship with your...
by Robin Dicks | Oct 19, 2016 | Robin's Blog
Deborah Shell of Winckworth Sherwood has written an easy to read and interesting article about implementing client feedback programmes. It covers not only the set up of gaining feedback but how it is shared with partners and others to gain commitment, buy-in, results and also an impact at the client. Take a look Are you...
by Robin Dicks | Oct 12, 2015 | Robin's Blog
One theme has been increasingly visible in some of the recent in-depth client feedback interviews we’ve done for firms. It’s connected to “commerciality” but it’s more profound than that. It’s not “technical expertise”, and actually it’s not a client servicing issue either. What it is, is about understanding the context in which the client works in. Their operating pressures, the environment in the sector they work in, and the types and demands of the different (external) stakeholders they work with. Some clients have told us that understanding this enables the firm to be realistic, pragmatic, and to drive strategic value and the “right” result. Otherwise the firm can deliver something that looks great on paper but – crucially – that they don’t much benefit from in the real world. Fee earner/professional advisor performance is hugely variable on this – but it doesn’t have to...
by Robin Dicks | Aug 18, 2015 | Robin's Blog
Most client feedback exercises get feedback about how the firm performs. Better ones also identify what factors have the greatest impact on the client’s continued use of the firm. But few – still – use the opportunity created by the process to get vital insight into the events and commercial issues seen as most likely by their clients. Knowing this can not only alert you to opportunities with specific clients but also help ensure all your marketing and communications investments of time and money – including events, articles, and social media content – are focused on the issues of most relevance to your clients and prospects. Take a look at this...
by Robin Dicks | Apr 7, 2015 | Robin's Blog
As we’ve written about extensively elsewhere, there are 5 key drivers of profitable growth for a firm – and extending what you do with clients is a hugely important one. Is there genuinely high potential or is this just great in theory? I’ve spent a little while looking at the client feedback responses, gathered since January 2014, on behalf of our law firm and accountancy firm clients, on this very point. It shows: There are opportunities to either do more of what the firm is currently doing for that client, or to extend what it does, in 54% of cases There are risks of potential client loss (or some loss of business) in 14% of cases The other 32% of clients are stable and loyal. In case useful to help you discuss with colleagues how to enhance the results you get, a little more in shown in this one-page document What does this look like for your firm? Are you capturing this...
