Menu

Law firm client retention: give ‘em enough rope…

Law firm client retention: clients leaving the nestLaw firm client retention can be a thorny issue. Now, more than at any other time, holding on to key clients and marketing new services to them is vitally important. Give them too much rope and they’ll be gone.

Let’s look at some basic facts:

  • New client acquisition can cost 15 times more than retaining existing ones.
  • Most lawyers spend their limited business development time chasing new clients.
  • Studies show increasing client retention by 5% can increase profitability by 25%.

So, how do you get the most out of your existing clients?

Structure your firm around your clients.

In testing times such as these, it’s understandable to focus on measuring inputs such as billable hours, work in progress and credit control statistics. Structuring your firm around your clients involves measuring other things. Things such as client satisfaction, successful matter outcomes and retention rates – not to mention cross selling levels.

The starting point for this is a client feedback programme. It’s a mechanism that allows you to get feedback on your performance directly from the horse’s mouth. Armed with that, you’ll learn what clients really want and value and be able to modify your approach to client handling, both learning from mistakes and systematising what you do well.

Strangely, so few firms are currently doing client feedback interviews that they still count as something that will differentiate you from your competitors.

Develop a “Client Journey”.

The client journey map is a proven marketing technique used in many industries and another source of competitive advantage. It comprises five stages: entice, enter, engage, exit and extend. The first three are down to your marketing and client care systems. The latter two should work together. That will allow you to develop potential for further business by both setting and meeting client expectations and then keeping them engaged.

Clients expect their legal advisors to deliver a service that is proactive, personalised and seamless. Planning your client journey via systems and internal protocols used by all who make client contact is vital to achieve this.

Use the tools you already have.

law firm client retention: man on ropeIf you use practice management software in your business, take a look at what else it can do to help you retain and develop clients.

At the very least the software should contain modules such as:

CRM is there to enable you to make contact with clients en masse – either by email, mail or other means. It can be used to send newsletters and updates to specific client groups.

Above all, it’s the mechanism for keeping in touch and providing useful information and advice that will assist in generating repeat and return business. Put it to good use and it will pay dividends.

To find out how practice management software can help your law firm client retention, contact us on 0345 2020 578 or innovate@lawware.co.uk.

Mike O’Donnell, June 2021.

© LawWare Limited 1995-2021

Archives

Join over 475 law firms across the United Kingdom.

Our clients range from small start-up legal practices to multi-partner, multi-site firms.

Another great customer service experience from LawWare. My laptop had to be stripped back to factory settings as part of a repair - taking hours! In contrast, restoring LawWare took one phone call to the support team and I was up and running in 6 minutes. If only everything was so easy!

VI pensions Law Ltd.
Vanessa Ingram

As the first commercial user of LawWare back in 1998, we have had no hesitation in remaining with the product through its development. We thoroughly recommend it to any firm looking for a practice management system.

Alastair Hart & Co.
Alastair Hart

The helpdesk is exceptionally good. Whatever the query there is always a human being there to help. No leaving messages or being advised to go to a website. The best computer service for solicitors I have ever used!

South Forrest
Irene Yule

The linking of documents and casefiles saves so much time! I have experience of several accounts packages and I like that LawWare is simple to use and easy to learn. Support is quick and effective and staff are helpful and courteous.

Sprang Terras
Fiona Allison

I have worked with a number of Case Management providers over the years but have not come across anything with the attention to detail and thoroughness of LawWare. My colleagues and I have not been disappointed.

Brymer legal Ltd.
Professor Stewart Brymer

I can’t imagine trying to be a law firm in the 21st Century without 21st Century IT systems. Having a ‘single system’ that underpins all the work, whether we are in the office or out, is an integral part of what we are building.

Sneddon Morrison
Eric Lumsden

The level of support is the main benefit using this system.  The system itself once you have had training is simple and easy to use. We have a great relationship with LawWare and the ongoing support is second to none.   

Linda George Family Law
Sharon Rodger

Significant preparation was required to configure and import the data from our old firm. We had to get all clients onto the new system and then learn how to use it. We just find it very easy to use, much easier than our old system.

Scanlon Ewing
Maureen Ewing

Being a busy litigator with a growing firm it is incredibly useful to be able to view my files from any location with some form of internet connection. I am a fan, and want to keep working with LawWare to make a good product great.

Helix Law Limited
Jonathan Waters

The switch to the new LawCloud system, which is still on-going, has gone very well. We found the LawWare team without exception to be very helpful and knowledgeable. All queries are followed up and dealt with promptly.

Cullen Kilshaw
Ross Kilshaw

interested in

Explore LawWare

Connect With Us

Scroll Up