What are clients looking for when considering law firms? The cliché "People buy from people" is true.
Yuliya Matvyeyeva
International Partner Development, Europcar Mobility Group. Lecturer in Business Negotiations & Communications, Université Sorbonne Nouvelle. Public Diplomacy & Info Warfare Researcher, Université Gustave Eiffel.
The way we sell goods and provide services has changed dramatically over the past decade, and legal services are no exception.
The cliché
"People buy from people"
is true.
Whether you're providing legal services to individuals or businesses, you're providing them to a specific decision-maker.
?Don't build connections. Build relationships.
If you have an established relationship with a client, maintain and develop that relationship. Clients want you to foresee their future needs. They expect you to help prevent potential problems and seize opportunities, not just respond to what has already happened.
Sell the problem you solve, not the service you provide
Lawyers tend to focus on the inputs - the legal advice they can provide and its qualities. Clients tend to treat the quality of your advice as self-evident. They care about the outcome - getting a good result and being able to move on.
Listening to them is where you find out what the client thinks that a good outcome should be - in light of the client's expectations. You can manage those expectations. Make sure the client understands the real situation and the real timeline.
?Communication or work result - what's more important?
Regular communication is vital to maintaining a good relationship. Be clear from the start how and when you will keep the client informed. Clients want regular updates on the progress of your work, even if it's just a message that you're still in the process.
?If the client doesn't ask you, you don't need to explain the legal nuances of what you're doing - clients want you to solve their problem, not teach them the law. Explain the practical consequences of what's going on and any actions they need to take.
Above all, keep your promises. If you say you'll call tomorrow, make sure you do so.
?Chambers and Partners conducted research and identified the following factors and values according to clients that influence their choice of a particular law firm.
Ranking the importance of factors in choosing lawyers for cross-border transactions
?1. Client service
Good service ranks first among the most important factors for clients in any interaction. It is important to show that you are not just an international law firm with a large number of lawyers in multiple jurisdictions, but that all the lawyers work in different offices in a coordinated manner and that customer service remains top-notch.
?2. Commercial Awareness
Demonstrate your knowledge of how businesses make money, what clients want, and what problems exist in a particular area of business.
?In other words, commercial awareness is an understanding of what the business needs to do to remain profitable, successful and serve its customers well.
You know your client's core values, their main competitors, key stakeholders, strengths, and weaknesses of the client's business and can apply this information when offering your services.
?3. Delivery to Budget and Sophistication of Work
Clients tend to be more inclined to pay higher fees the more complex the issue, as long as they feel value for money.
?4. Bench Strength, Large Global Footprint, and Network of Partner Firms
领英推荐
Demonstrate "Bench Strength" to the client - your ability to immediately replace critical positions with a talented internal candidate should the need arise.
?5. Project Management
Strong project management skills are a factor to be expected in any law firm.
The most important values in working with law firms according to clients
?1. Shared Company Culture
This includes the company's mission, expectations, and work environment. Statistics show that company culture directly affects employee retention, which, in turn, affects productivity and, therefore, success.
According to a study by Columbia University, the likelihood of job turnover at a company with rich company culture is only 13.9%, compared to 48.4% in companies with poor culture.?
?Loyal, enthusiastic employees bring as much value to the company as loyal clients. They stay longer, work harder, and find more creative ways to solve cases.
?2. Team diversity and sustainability practices
To stay competitive, companies must always keep innovating. Research shows that one of the best ways to increase the ability to transform a company and its services may be, for example, by hiring more women and team members from different cultures, implementing inclusive practices.
Law firms need to keep their finger on the pulse and understand the broader context of climate change policy.
Your goal is to make sure that your clients are always leading in all areas of business in this rapidly changing environment.
Sustainability practices involve an interdisciplinary approach to sustainability. The practice includes lawyers in environmental law, Land Use, Real Estate, Construction, Corporate Law, M&A, Corporate Finance, Intellectual Property, Taxation, and other disciplines to comprehensively address sustainability legal issues in a wide variety of "green" issues.
?3. Pro Bono
Providing qualified legal assistance to low-income individuals and the nonprofit organizations that support them, without fee or expectation of reward, continues to be an important factor for clients.
A few ideas on how to get started providing Pro Bono services: a guide to setting up a Pro Bono program at your law firm and how to get started - and succeed with Pro Bono for Lawyers
?The key insights are.
?
It's not just important to be present today. Keep your finger on the pulse and add value!
?
Inspiration photo: Kyiv, Ukraine by Oleg Sharapov
?