Strategic Client Management
Nurture longer-term and more profitable relationships
A substantial body of research and case studies strongly support the value of strategic client management as an approach to enhance the financial performance and sustainability of law firms.
The goal of strategic client management is to institutionalize key clients by being more intentional in all aspects of client service – which goes well beyond the expert practice of law. That said, there is a great deal of variation in how strategic client management efforts are implemented. This gives firms the flexibility to fashion programs best suited to their needs, capabilities and aspirations.
A couple of elements are foundational, such as client feedback and annual client service plans, but much more important is an attitudinal shift to (true) client-centeredness. This may be best represented in the pivot from cross-selling to cross-serving. More than a semantics, the key difference is that cross-serving starts with the clients’ needs; cross-selling starts with the firm’s wants. Cross-selling is all about wanting the client to “buy” what your firm has to offer. Cross-serving, on the other hand, starts with a clear, deep understanding of the client’s business and their priorities – and how those meaningfully intersect with what your firm can provide. This will allow for the development of a sound, solutions-oriented business proposal; serving the client; not selling.
There are specific steps firms can take to build more robust, enduring relationships and we’d welcome the opportunity to discuss what’s right for your firm.