Practice Management

A Proactive Marketing Strategy

I have long espoused that major clients should each receive a free on-site half or full day visit each year by their relationship partner.  The purpose is to gather strategic intelligence which will enable you to better anticipate their needs, understand their concerns, examine their risks and opportunities, and generally just learn more about how their business operates.  While at first it seems to be a money-losing proposition, those who have taken this approach have quickly discovered it is not.  It shows the client in no uncertain terms that the firm is vested in understanding their business, and becoming a partner in helping them achieve success.  It shows the client that the firm is willing to invest its time in order to serve their needs better.

One strategic advantage is getting to know additional key players in the organization who may not play a role in assigning legal work.  Chances are good that some day your contact may move up or out, and one of these other key players may move into your contact’s slot.  What better way to ensure you ride out the transition smoothly without losing the client?  Even better, perhaps one of them may move to another company, and have an opportunity to send work your way.  After all, you paid attention to them when they weren’t a source of business!  And they know you understand their needs and concerns.

Typically, the firm walks away with some new matters to handle on the day of the site visit, or receives them within a few days afterwards.  So although the investment of time appears to be lost revenues, it is usually quickly recaptured with additional work that might not have arrived otherwise.

Today I read with interest that fellow consultant and blogger Jordan Furlong has taken this idea to another level, and I am intrigued and in total agreement.  Wish I’d thought of it first!  In a blog post, Jordan suggests that the attorney create an Annual Report for the client.  Another solid proactive strategy to let the client know you’re not just passively content to handle a transaction here and there.  I can pretty much guarantee that the firm which embraces this strategy will reap significant rewards.  Read the post for his description of what the Annual Report should include.

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Full post as published by Law Practice Management on February 25, 2011 (boomark / email).