client retention - dilemma

Presented By:

Tarunjeet Singh, Senior Attorney– Draft n Craft

Sagar Pratap Singh, Business Development – Draft n Craft

Client Retention – A Dilemma

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Client Retention…..

Skills Of Attorney

Performance ByAttorney

Satisfaction ofClient

Willingness of Client

+


Client Retention a Real Dilemma for You..???

As a professional, do you always ask yourself:

WHY retaining a client is TOUGH

HOW is it AFFECTING my day-to-day work

WHAT should be the RIGHT STRATEGIES

HOW to overcome this BIG CHALLENGE


Clients’ Big Questions..??

WHO is representing me?

WHAT would I expect?

What’s there for me? Quality Competitive Price Satisfaction Attorney Client Privilege Efficient & Proactive Services


Present Day Scenario9,000+ law firms in England and Wales

15% to 20% law firms in serious financial difficulties and on the verge on insolvency, merger or closure

Recent Mergers:• Pinsent Masons and McGrigors

• Davies Arnold Cooper and Beachcroft

• Barlow Lyde & Gilbert and Clyde & Co

• Weightmans and Mace & Jones


WHAT are you going to ensure

WHEN are you going to ensure

HOW are you going to ensure

How Quick Can You Act..??


Things You Should Know..

CUSTOMERS = CLIENTS

Customers are served by processes

85% of customer related problems arecaused by professionals/organisations work procedure

To better serve customers, professionals/organisations must improve their approaches


Valuing Your Client..

- Clients seek to maximize value by:

ESTIMATING which lawyer/firm delivers the most value

- Lawyers, on the other hand do it by:

FORMING an expectation of value and acting upon it

EVALUATING their usage experience against the expectations


Loyalty : A Royalty

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

1 2 3 4 5

Perc

enta

ge R

etai

ned

from

Pr

evio

us Y

ear

Years as a customer


Things You Should Implement..

STEP 1: Ask

STEP 2: Evaluate

STEP 3: Stimulate

STEP 4: Reward

STEP 5: ACT


Build A Bridge...

FIVE Client Retention Strategies:

Segment existing clients

Interview “must-have” clients

Create a unique “value-add” strategy for each client

Communicate your value-add strategy

Track results and monitor responsesCopyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Five Key Principles..

Understand & Involve the Customer

Focus on Key Problems Select the Right Change Leader Seek Ideas from Outside the Field

and Organisation Do Rapid-Cycle Testing for quality

businessCopyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Ring Of Changes…

Approx 84% of professionals/ organisations uses client retention marketing strategies..Maintain a DatabaseStay in TouchWelcome ComplaintsLoyalty ProgramsDo a Good Job


Choice Is Yours…..


Small changes do increase client satisfaction

Satisfied clients are more likely to show up again and continue your services

More clients make your work more rewarding

More admissions and fewer dropouts improve the bottom line

Choice Made Result Delivered..


Behave Like A Pendulum..

Keep measuring and studying the results until

you reach your

objectives and improve

as much as you

DESIRE…!“A single idea, if right, saves us the labor of an infinity of experiences” - Jacques Maritain


Ask Question..

Draft n Craft Legal Outsourcing Pvt. Ltd.

Website: www.draftncraft.comEmail: [email protected]: +91 11 2341 4576USA: + 1 516 515 3510UK: + 44 20 3318 3559


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