Lawyers & the Experience Economy
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The document discusses designing experiences to capture and deliver value. It mentions Josh Kubicki and his Twitter handle. There are questions about how easy someone is to do business with. It also references a risk rating system that considers total client exposure, similarity of causes of action, opposing counsel history, and jurisdiction/judge history to determine a blueprint and risk rating. It concludes with a thank you.
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Lawyers & the Experience Economy
- 1. JOSH KUBICKI Designing Experiences: Capturing & Delivering the Ever-Elusive Value @jkubicki
- 2. @jkubicki
- 3. @jkubicki
- 4. @jkubicki
- 5. @jkubicki
- 6. @jkubicki
- 7. @jkubicki
- 8. @jkubicki
- 10. QUESTION How easy are you to do business with? @jkubicki
- 11. @jkubicki
- 12. @jkubicki
- 13. @jkubicki
- 14. @jkubicki
- 15. @jkubicki
- 16. MEDIUM MEDIUM YES LIMITED YES LOW LOW YES YES YES HIGH Express Standard Advanced HIGH NO YES NO Total client exposure Risk Rating Similarity of cause of action Opposing counsel history Jurisdiction/Judge history Blueprint Tracks Determined by Matter Characteristics @jkubicki
- 17. @jkubicki
Editor's Notes
- In 1998 Harvard Business Review noted that the world economy was experiencing a seismic shift in consumer behavior. Consumers no longer wanted to simply BUY goods and services, we wanted to have a more holistic experience in doing so. This marked a emergence of a fourth wave of our economy – the experience economy. An experience consists of ACTIONS, THOUGHTS, INTERACTIONS and IDEAS generated over time a a person goes through the whole process of recognizing a need/want for something, educating themselves on it, buying it, using it, maintaining it, trashing it or recommending it and so on. Retailers have seized on this – Apple, Warby Parker, Amazon, and so on. B2B have also done so – AWS, Motorola, Boeing and others have begun to think about and craft experiences around their customers and clients. It has proven IMMENSELY POTENT in attracting business, keeping business, growing business and referring business. It also has another power – but we will get to that in a minute.
- Great so what exactly is an EXPERIENCE in the legal markets and how to we move from Service-orientated to Experience-orientated?
- First a real-life story - Meet Elaine Long time client – Trusted Advisor – Personal relationship LOST RFP – Lost Client – not competitive on pricing even though discount rates, relationship did not matter. There was clear VALUE. All the things Elaine used to rely on (knowing judges, plaintiffs’ counsel, jury pools, causes of actions, etc) where trapped in her head (heuristic) and she thought that was her differentiator. While it is valuable, that was not translated in the RFP. Took it for granted. Also others have that.
- Should she lower her fees? Should she try to convince them to trust her and she will do a good job? Can she staff it differently to lower costs? NO IDEA what was going to work but needed this client. 40% of her revenue!
- Panic button!!!!
- Typically lawyers see the what the client is buying as this . . . THEM! “I don’t buy the firm, I buy the lawyer.” Perhaps but regardless you have to do business with the lawyer’s firm. Also as we have seen – the RELATIONSHIP is not enough anymore.
- This is the reality of doing business together. It is NOT just the personal relationship – it is the relationship between the firm and the client – either personal or their business. This introduces many potential areas of friction, unhappiness, delightedness, and so on. When you consider the extent of this you begin to understand there is a lot more to the relationship than first thought and so there is more opportunity to create or destroy the value of it. Both little things and big things matter.
- Leads me to this question to simplify it all?
- To BEGIN to answer that you really need to do two things?
- Blueprinting focuses on exposing the surface-to-core of the business that makes up the backstage and behind the scenes of how you deliver and operate, and ties that to the customer’s experience. The service blueprint seeks to uncover and document (often for the first time!) all the things that go on beneath the surface and the internal makeup of the organization that creates it. It is data visualization of how your company works; the deep, dark inner workings of how the things a customer experiences are actually produced.
- A journey map captures iconic experiences that customers have, from their point of view; the front stage of the service experience. In creating a journey map, you use customer narratives and customer data to plot their experience over time, mapping what they are doing, thinking, and feeling, and what they are interacting with along the way.
- Merging these two together illuminates the Gaps, the Strengths, Friction, Opportunities for Value and so on. It give you incredible insight into your business and how it interacts with your client’s business. It shows you what the Client Experience truly is. Then you can begin to craft the ideal Experience – ideally with you client.
- VALUE – but this alone is not helpful Lots of low hanging fruit but it takes a certain POV to figure it out. Remember her heuristics? That is a staring point. But there is so much more!