Client Retention - Dilemma

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Client Retention - Dilemma

  1. 1. Presented By: Tarunjeet Singh, Senior Attorney– Draft n Craft Sagar Pratap Singh, Business Development – Draft n Craft Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  2. 2.  Skills Of Attorney  Performance By Attorney  Satisfaction of Client  Willingness of Client Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  3. 3. 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 Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  4. 4. WHO is representing me? WHAT would I expect? What’s there for me? Quality Competitive Price Satisfaction Attorney Client Privilege Efficient & Proactive Services Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  5. 5. 9,000+ 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 Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  6. 6. WHAT are you going to ensure WHEN are you going to ensure HOW are you going to ensure Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  7. 7. CUSTOMERS = CLIENTS Customers are served by processes 85% of customer related problems are caused by professionals/organisations work procedure To better serve customers, professionals/ organisations must improve their approaches Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  8. 8. - 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 Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  9. 9. 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 1 2 3 4 5 PercentageRetainedfrom PreviousYear Years as a customer Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  10. 10. STEP 1: Ask STEP 2: Evaluate STEP 3: Stimulate STEP 4: Reward STEP 5: ACT Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  11. 11. 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 responses Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  12. 12.  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 business Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  13. 13. Approx 84% of professionals/ organisations uses client retention marketing strategies.. Maintain a Database Stay in Touch Welcome Complaints Loyalty Programs Do a Good Job Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  14. 14. Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  15. 15. 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 Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  16. 16. Keep measuring and studying the results until you reach your objectives and improve as much as you DESIRE…! Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
  17. 17. Ask Question.. Draft n Craft Legal Outsourcing Pvt. Ltd. Website: www.draftncraft.com Email: info@draftncraft.com India: +91 11 2341 4576 USA: + 1 516 515 3510 UK: + 44 20 3318 3559 Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

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