Client Journey Mapping For Retention And Growth

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  • 1. IGNYTE GET AHEAD. STAY AHEAD. SERVING THE LEGAL PROFESSION Client Journey Mapping Ask the right questions. Find the right answers. Client retention and the discovery of latent opportunity ignyteMonday, February 20, 2012 1
  • 2. WHAT IS IT? Journey mapping is a method for assessing, visualizing and improving client experiences. It helps law rms view their service and value from the clients perspective, thereby allowing the rm to identify opportunities for improvement. Continuous improvement is a mandatory process in any industry. In the legal industry, where change is occurring on a regular basis, staying abreast of the changing views of clients, how they dene value, and understanding whether or not the rms value model is delivering in line with those views and providing value clients feel is important to their needs, is critical to retention, growth, and the maintenance of the rms relevancy. ignyteMonday, February 20, 2012 2
  • 3. WHAT ARE THE KEY OBJECTIVES? The key objectives are to avoid at risk accounts, protect and grow the client relationship over the long term and increase the per client share of wallet. ignyteMonday, February 20, 2012 3
  • 4. WHY USE IT? In virtually every law rm, client journey mapping should play a central role. To protect and solidify relationships in a highly competitive environment. To more deeply understand your clients world. To innovate. To create growth by identifying latent opportunity. To rene value models that will address evolving and top of mind client need. To keep the competition away from the client door. ignyteMonday, February 20, 2012 4
  • 5. WHY USE IT? To gain an understanding of your customers experience with your brand and its value output. The knowledge you gain enables you to dene and design your actions to ensure the relationship you build with your customer does not revolve solely around the consumption of your service, but rather, around a belief and trust in the brand. ignyteMonday, February 20, 2012 5
  • 6. WHAT IS THE RESULT? The relationship is far deeper than it would be at the service consumption level, where a better service offering from a competitor can undermine the relationship. It identies changes in client need and gives the rm the ability to modify its value. Sustainability and growth are key. If rms succeed at this, they will have built a sustainable and more protable relationship. ignyteMonday, February 20, 2012 6
  • 7. WHAT IS THE RESULT? Identication of latent opportunity to impact growth. The ability to innovate, develop new services and value to solve new and existing problems, and create competitive difference. Identication of the need for and creation of a stronger, more relevant practice and value model. Reduction of complexity in the relationship. ignyteMonday, February 20, 2012 7
  • 8. HOW IS CLIENT JOURNEY MAPPING RELEVANT? The legal profession is experiencing fundamental change and that change is impacting how clients view, experience and apply value. Clients look to their law rms to respond. The ongoing challenge with existing clients in this new world of legal services, is to foster a successful long-term relationship that will withstand the effects of time, change, and a highly competitive marketplace. Growth strategy cannot ignore protecting and maximizing the life of the existing account and capturing a greater share of wallet. New business obtained from current or past clients tends to be more protable, due to a lower cost of acquisition and higher likelihood of success. ignyteMonday, February 20, 2012 8
  • 9. WHY IS CLIENT JOURNEY MAPPING RELEVANT? To allow the member rm to generate value. We are moving from value in exchange to value in use. To create an integrated experience. Clients do not experience your service in an isolated fashion. When it concerns brand (rm) preference, they assess their total experience with that brand (rm) from beginning to end. To stand out in the market. In a saturated market with erce competition, it is difcult to compete on services alone. The relationship you build with your clients before, during, and after the the consumption of your services, offers tremendous opportunities to differentiate yourself in the market. ignyteMonday, February 20, 2012 9
  • 10. IGNYTES PROCESS We develop the Client Journey Mapping experience for our law rm clients. We train a rms internal team on how to use Client Journey Mapping with each client. Once the process is in place, we monitor the rms progress and results through the application of simple metrics. Client Journey Mapping then becomes a consistent and sustainable internal practice for the rm with measurable results. ignyteMonday, February 20, 2012 10
  • 11. TAKE THE JOURNEY For more information on Client Journey Mapping for law rms contact ignyte. or call 1+ 585 469 2132 ignyte Get ahead. Stay ahead. Serving the legal profession ignyteMonday, February 20, 2012 11