{"id":11278,"date":"2024-05-02T12:15:32","date_gmt":"2024-05-02T11:15:32","guid":{"rendered":"https:\/\/www.clio.com\/uk\/?p=11278"},"modified":"2024-05-02T12:15:32","modified_gmt":"2024-05-02T11:15:32","slug":"law-firm-business-development","status":"publish","type":"post","link":"https:\/\/www.clio.com\/uk\/blog\/law-firm-business-development\/","title":{"rendered":"Law Firm Business Development: Your Comprehensive Handbook"},"content":{"rendered":"

Relationship building. Pressing the flesh. Developing new revenue streams. Cross-selling. This is the language of business development, and, much like <\/span>marketing terminology<\/span><\/a>, it is not familiar territory for most solicitors. As much as I\u2019m prone to preaching about the place for marketing in every law firm\u2019s toolkit<\/span>, business development for law firms is the other side of the coin.<\/span><\/p>\n

After reading this article, you will have a good idea of what business development strategies look like for law firms and some practical tips on how to integrate them into your job as a lawyer and business owner.<\/span><\/p>\n

What is law firm business development?<\/b><\/h2>\n

Business development for law firms means pursuing strategic opportunities for your law firm. This includes building new relationships and identifying new revenue streams and sales opportunities. Examples are cross-selling to existing clients and adding new practice areas to your firm. It might involve geographic expansion, or setting up procedures for your <\/span>client onboarding<\/span><\/a> team to follow up with prospects.<\/span><\/p>\n

Law firm business development vs. marketing<\/b><\/h2>\n

One of the reasons I love marketing is because you can seemingly create new business out of the blue. And depending on the advertising channel, the results can be instantaneous, through techniques <\/span>such as turning on <\/span>pay-per-click<\/span> (PPC) ads and other forms of <\/span>Google advertising<\/span>. John Grisham writes books about the rainmaker, and that is precisely what a good marketing person is\u2014a rainmaker.<\/span><\/p>\n

In business<\/span> development for <\/span>lawyers, you\u2019re<\/span> still making it rain, but instead of <\/span>the sales-focus one-time transactions of marketing,<\/span> you build bridges, relationships, and revenue streams that are <\/span>more sustainable and will serve you in the long run. <\/span><\/p>\n

One might say that marketing is the here and now, putting your law firm in front of a client<\/span> who <\/span>needs<\/span> your services. Unlike marketing,<\/span> business development <\/span>for law firms <\/span>is about the long game\u2014adding <\/span>revenue and sales streams,<\/span> practice areas<\/a>, and relationships that build your practice over time.\u00a0<\/span><\/span><\/p>\n

What does law firm business development mean for lawyers?<\/b><\/h2>\n

Law firm business development essentially means anything you do, in a systematic way, that expands your firm\u2019s revenue streams. It takes into account strategies to grow revenue from a big-picture perspective rather than one-time transactional decisions.<\/span><\/p>\n

I know what you\u2019re thinking: \u201cOkay, so what does this mean to me, a <\/span>sole practitioner<\/span><\/a> (or lawyer at a small firm)?\u201d<\/span><\/p>\n

Top 3 strategies for law firm business development<\/b><\/h2>\n

Here are a few of the most common strategies lawyers of any size can use to grow new business:<\/span><\/p>\n

1. Build strong client relationships<\/b><\/h3>\n

 <\/p>\n\n\t\n\t\t\t\n\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\t\t\n\t\t\n\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\n\t\t\n\t\t\t\t\n\t\t\t\t\t\n\n\n\t\n\t\t\t\t\t

The best way to get a new client is through existing clients. The 2020 Legal Trends Report<\/em><\/a> reveals that a client looking for a lawyer will trust recommendations from friends and family first as well as online reviews on Google, social media, legal directories, or<\/span> from past clients.<\/span><\/span><\/p>\n

To ensure that past clients lead to referrals for new clients, law firms need to <\/span>become client-centred<\/span><\/a> and <\/span>develop strong client relationships<\/span><\/a>, both during and after the case. There are many ways to do this, but it largely boils down to making the client experience exceptional.\u00a0<\/span><\/p>\n\n\t\n\t\t\t\n\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\t\t\n\t\t\n\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\n\t\t\n\t\t\t\t\n\t\t\t\t\t\n\n\n\t\n\t\t\t\t\t

Other findings from the <\/span>2019 Legal Trends Report<\/span><\/i><\/a> shows that communicating consistently<\/span>, answering client inquiries, and being transparent with billing are all ways to make sure your clients feel they are getting the best possible experience and feel important.<\/span><\/p>\n

To build strong relationships, focus on the five key aspects of running a client-centred law firm.<\/span><\/p>\n\n\t\n\t\t\t\n\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\t\t\n\t\t\n\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\n\t\t\n\t\t\t\t\n\t\t\t\t\t\n\n\n\t\n\t\t\t\t\t

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  1. See things from your client\u2019s perspective<\/b><\/li>\n<\/ol>\n

    Creating a better client journey and overall client experience at your law firm means truly seeing things from your client\u2019s perspective. Don\u2019t make assumptions. Stay engaged with your clients and look for opportunities to get insight into their experiences.<\/span><\/p>\n

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    1. Care for your clients and consider their needs<\/b><\/li>\n<\/ol>\n

      Your clients don\u2019t just come to you to get legal issues resolved. They come to you for peace of mind, reassurance, emotional support, advice, and more, during very stressful times in their lives. Lean into this with empathy and you could help your law firm stand out in a big way.<\/span><\/p>\n

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      1. Be client-centric in your thinking<\/b><\/li>\n<\/ol>\n

        When your law firm makes a decision, evaluates a new tool, or tries a new process, do you think about how it will impact your clients and their experiences? Thinking of your clients first at every stage of the client journey is the first critical step towards running a more client-centred practice.<\/span><\/p>\n

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        1. Communicate clearly and often<\/b><\/li>\n<\/ol>\n

          For client-centred law firms, communication means more than just providing updates on clients cases. It\u2019s about being proactive so that clients feel informed, and taking the time to ensure clients truly understand everything that is going on. This is important throughout the entire client journey, from intake to invoice.<\/span><\/p>\n

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          1. Ask for feedback to continually improve the client experience<\/b><\/li>\n<\/ol>\n

            Don\u2019t forget to ask for feedback from your clients. The best way to validate if your client experience is meeting expectations is to get feedback right from the source. Consider measuring client satisfaction as you go. Remember the old adage: \u201c<\/span>What gets measured gets managed<\/span><\/a>.<\/span>\u201d<\/span><\/p>\n

            One very common way to do this is by <\/span>measuring your Net Promoter Score<\/span><\/a> (NPS\u00ae<\/sup>). The NPS\u00ae<\/sup> is a way of measuring which clients are likely to spread the good word about your service to others through reviews and referrals. You\u2019ll also want to be proactive about <\/span>managing your online reputation<\/span>. This includes responding to negative reviews and asking current and former clients for feedback and positive reviews.<\/span><\/p>\n

            2. Networking<\/b><\/h3>\n\n\t\n\t\t\t\n\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\t\t\n\t\t\n\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\n\t\t\n\t\t\t\t\n\t\t\t\t\t\n\n\n\t\n\t\t\t\t\t