Client loyalty – Page 11

It’s all about keeping your clients happy

June 30, 2015 by David M. Ward

Nobody would argue that keeping your clients happy isn’t vital. Clearly, it is the genesis for repeat business, referrals, and getting paid on time. But is keeping your clients happy paramount?

No. Keeping your employees happy is more important.

If you don’t keep your employees happy, you can forget about keeping your clients happy.

By the same logic, keeping yourself happy is more important than keeping clients happy. If you’re not happy, you won’t be much good to anyone else.

In response to yesterday’s post about not negotiating fees, a personal injury lawyer wrote and saidÂ he disagreed. “It’s all about keeping your clients happy, so they will return and refer,” he said.

Yes, smother your clients with love and attention. Remind them often about how much you appreciate them and want to help them. But just as a parent doesn’t need to buy his kid a pair of $300 sneakers when he asks for them, lawyers don’t need to buy our clients’ love by agreeing to cut our fees.

I showed my clients I cared about them by takingÂ cases with questionable liability and negligible damages. I showed them that I was on their side and would fight for them when they asked for my help, even whenÂ I thought we would probably lose the case, and even if we won, I knew I wouldn’t earn much of a fee.

I also waivedÂ my fee on many cases, or cut itÂ voluntarily. When it’s your idea, you are a hero. When the client asks (or insists), you’re just a commodity.

So be generous with your clients. But do it because you choose to do it, not because you might lose them if you don’t.

The writer also said he doesn’t think his other clients know when he cuts his fee for a client who asks him to.

Question: What happens when client A (who got a discount) refers client B? Does he offer the same discount to client B? If he doesn’t, what happens when the new clientÂ finds out that you charged his friend less?

And what happens when client A returns with another case? Does he get the discount on that, too?

CuttingÂ fees is a slippery slope.Â I know. I once had an office in a market where all of the PI lawyers ranÂ dueling ads promisingÂ increasingly lower contingency fees. You charge one-third, the next guy says he’ll take the case for 25%, three more lawyers advertise 20%.

When it got down into the 8-10% range, I’d had enough and closed that office.

With low overhead and high volume, I was still making aÂ profit. But I wasn’t happy.

For more, see The Attorney Marketing Formula and Getting the Check

Filed Under: Attorneys fees, Client loyalty, Client relations, Fees and Billing, Law office management, Marketing legal services

How to select more profitable cases and clients

May 19, 2015 by David M. Ward

A subscriber asked for my thoughts on how to select, “more meritorious and profitable cases and eliminate smaller cases or “junk” that takes far too much time in proportion to profit potential.”

I thought he was talking about contingency fee cases but when I went to his website I saw that he handles everything but. It’s a general practice, handling everything from divorce to banking to foreclosure, construction law, even appellate work, but no personal injury or anything tort related that I can see.

Unless I’m missing something, as long as they get a retainer fee, they get paid. Even if the case isn’t that good.

So my oh-so-glib answer to the original question is, “Pick a number. Decide, in advance, that you won’t accept anything that won’t provide you with a minimum fee of X dollars.”

That’s easier to do when you charge flat fees instead of hourly, and that might be part of his challenge. If that’s so, and he wants to continue charging hourly, he might consider having a minimum fee, if this is ethically permitted. So, $400 per hour for that divorce case, with a minimum of $5000. Or whatever.

Okay, I realize it’s not always that simple. But I don’t know what else to say. Meet with your partners, pull out the spreadsheets, and see where you’re making money. Draw a line or two to demarcate the kinds of cases or clients you will focus on and the ones you will think twice about accepting or eliminate completely.

Before you make any final decisions, however, there’s something else to think about. It’s something I did in my practice and I recommend that you consider it in yours.

Think clients, not cases.

Essentially, that means you take the small stuff, even if it’s not terribly profitable, because you are serving the client who will have other matters for you, stick with your firm long term, send you referrals, and otherwise help your practice grow.

The lifetime value of those clients, and the collective fees earned from them, is many times what you might (or might not) earn on one particular matter.

If you don’t have those kinds of clients, or enough of them, start weaning the firm away from clients with “one time” cases and focus on clients with lots of repeat work.

Think clients, not cases.

Filed Under: Client loyalty, Increase your income

The lifetime value of a client

April 23, 2015 by David M. Ward

Most lawyers invest more time and money in acquiring new clients than in retaining existing ones. And yet the cost of retaining clients is a fraction of the cost of acquiring new ones.

If you want your clients to keep coming back to you, the first thing you need to do is to realize that it’s worth making them happy.

And it is.

Your average client is worth so much more to you than what they pay you for their initial engagement. Their value is an average of all of the fees they are likely to pay you in the future, over their lifetime as a client.

Some clients won’t come back because they don’t need you again, but others will hire you frequently. Some will have small cases, others will have big ones.

And every client can send you referrals, which also count towards their average lifetime value.

Once you understand that the client who pays you $5,000 this year might contribute an average of $150,000 to your bottom line over their lifetime, you will appreciate why it is worth investing in them.

If you only look at the $5,000, you might resist the idea of spending $50 per client per month to stay in touch with clients via a newsletter, birthday cards, and small gifts. If you look at their lifetime value, however, you might look for ways to invest even more.

Consider the cost of acquiring a new client. Take everything you spent last year on anything that could be considered marketing (and don’t forget the value of your time) and divide that number by the number of new clients you signed up.

If you spent $2,000 to bring in one new client who pays you $150,000 over their lifetime, you did well. So I’m not saying you shouldn’t try to bring in new clients. Just that it’s more profitable to keep your existing clients coming back.

It’s also much easier to get existing and former clients to hire you. They already know you and trust you. You don’t have to find them or convince them that you can do the job. If they need your services and you kept them happy in the past, you don’t have to do much to get them to hire you again.

The most effective marketing strategy for any professional is to make an ongoing effort to keep their clients happy. Find out what they want and give it to them. Encourage them to tell you how you are doing and what you could improve. Find out what they expect of you and do everything you can to give them more.

Because over their lifetime, they are worth a fortune to you.

Filed Under: Client loyalty, Client relations, Increase your income, Leverage, Referrals Tagged With: client retention, lifetime value

What will your clients want from you ten years from now?

February 5, 2015 by David M. Ward

Amazon CEO Jeff Bezos says that if you want to build a successful, sustainable business, donâ€™t ask yourself what could change in the next ten years that could affect your company. Ask what wonâ€™t change, and then put all your energy and effort into that.

Bezos knew that Amazon’s customers will always want low prices and quick delivery and he invested heavily in the infrastructure and systems that allow him to provide these. He sacrificed short term profits to build something great for the long term. “When you have something that you know is true, even over the long term, you can afford to put a lot of energy into it,” he said.

What should you invest in? What do your clients want today that they will still want ten years from now?

Well, more than anything, your clients buy “you”. So invest time and energy in becoming the best you can be. Invest in your skills, your knowledge, and your ability to communicate.

Work on your writing, speaking, and selling skills. Work on becoming a better manager and a better leader. Invest as much as 25% of your time in personal and professional development.

There are other things clients want from you, related to your specific practice area(s), services, and client types. Figure out what those are and invest in them, too. If you find that your clients really want services performed quickly, for example, focus your energy on finding ways to do that.

But mostly, focus on making the best you possible so you can attract the best clients possible.

If you want to learn how to differentiate yourself from other lawyers, get The Formula

Filed Under: Client loyalty, Communication, Image, Increase your income, Marketing legal services, Personal development

The foundation of all attorney marketing

January 5, 2015 by David M. Ward

The foundation of all attorney marketing is value. The more value you deliver to your target market, the more successful you will become.

When you deliver more value, you get more clients, and better clients, and you’re able to charge higher fees. You get more referrals and fewer complaints. You build a base of loyal fans who are not only willing to help you, they go out of their way to do it.

Value starts with your services, of course, but it’s not just the excellence with which your perform those services. It is a function of everything under the umbrella of “client relations”.

It is the little things you do for your clients that improve their entire experience with you. It’s the way you show them that you care about them as individuals and not just names on a file. It’s how you make them feel about themselves and their decision to put their trust in you.

Maya Angelou said it best when she said, “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”

Value doesn’t stop with clients. You also deliver value to your prospects, referral sources, and others who work in, advise, or sell to your target market. Give them more value, make them feel good about knowing you,Â and they will remember you when they need your services or know someone who does.

You can deliver value to your prospective clients and referral sources through content-rich websites, videos, podcasts, articles, books, and speaking engagements that educate and empower them and help them make better decisions. You can deliver value through free consultations and free seminars, or paid seminars, books and courses.

The foundation of all attorney marketing is value. Find out what your market wants and deliver it to them. Over and over again. Surprise and delight them by giving them more than anyone else in the market, and you will own that market.

Marketing is easier when you know The Formula.

Filed Under: Client loyalty, Client relations, Increase your income, success

The best way to get more legal work

December 19, 2014 by David M. Ward

I spoke to an estate planning lawyer the other day. He’s getting ready to do another mailing to his client list to encourage them to make an appointment to review and update their estate plans, due to a change in the law. It seems many people are either unaware of the new law or believe it doesn’t apply to them.

We spoke about the content of the letter, including whether or not to extend a special offer or incentive to get more people booking appointments.

I am sure he will get more work out of this, but not nearly as much as he could.

One letter (or email) isn’t enough. Selling your services to prospects or clients is a process, executed through a series of communications. Even if the letter he sends is brilliant and makes the phone ring, a second letter would bring even more.

Some people won’t read the first letter. Some will mean to call, but forget. Some will need time to take care of other business. Some won’t have the money today, or not want to spend it today, but that will change over time.

Never rely on a “one off”. If you do, you’re leaving much dinero on the table.

Your letters and emails, your newsletters, and everything else that comes out of your office, should be part of a sequence of communications, designed to educate and stimulate response.

But don’t stop with the written word. Or other static ways to educate and motivate your list (e.g., videos, seminars, speaking engagements, etc.)

I told this lawyer that if he wants to book more appointments, there’s something else he needs to do.

Call the clients.

You are their lawyer. They need to have this work done. You’ll book more appointments and get more legal work if youÂ talk to them.

Actually, have someone else in the office call on your behalf: “Mr. Twinkletoes wanted me to call you to make sure you received his report about the recent changes inÂ the tax law and to see if you have any questions. He knows you’ll want to take care ofÂ this immediately, so we’re booking appointments right now for the week of the 5th. I have an opening on. . .”.

You’ll get waaay more appointments if you call.

What’s that? You don’t do estate planning? Your practice area doesn’t have a lot (or any) repeat business?

No problem. Here’s a couple of things you can do.

Team up with an estate planning lawyer and promote his or her services to your client list. That lawyer can then promote your services to his or her list.
Call you clients and tell them you have a special offer or promotion going right now and you want to let them know so their contacts can take advantage of it.Â Referrals, baby.

Your list is incredibly valuable. Repeat business, updates, and referrals await you. Call and get some.

Filed Under: Client loyalty, Marketing legal services, Referrals Tagged With: book more appointments, get more legal work, repeat business

You can have everything in life you want if you do this

October 8, 2014 by David M. Ward

Zig Ziglar famously said,”You can have everything in life you want, if you will just help enough other people get what they want.”

It sounds like good advice, and it is. Help enough clients get what they want and they will make you rich.

But helping clients solve legal problems is only the tip of the iceberg. Your clients have wants and needs well beyond what your services can do. Help them get what they want in other aspects of their life and you will be rewarded with a multiple of what they pay you in legal fees.

One time clients will become lifetime clients. They will return again and again and refer other clients. They will promote your events and your newsletter, send traffic to your website, share your content on social media, and help you build your list. They will give you testimonials and sing your praises to anyone who asks.

What can you do for your clients beyond your legal services? Well, what do they need? What are their personal and professional goals? What problems do they need resolved?

Do they want to refinance their mortgage? Perhaps you can introduce them to someone who can help. Do they want to expand their business? Recommend a book or share your experiences in building your practice.

When it comes to helping people, little things can mean as much as big things. Start by making a list of different ways you can help. What do you know how to do? Who do you know that you can recommend?

Can you help someone set up a blog? Make a video? Write an article? Do you have speaking or networking tips you can share? Can you help someone get a better deal on a new car? Find a trustworthy housekeeper, baby sitter, or building contractor? Recommend places to stay in a foreign country?

Keep adding to your list and look at it often. It will help you see how valuable you are and remind you to ask your clients about “what else” they need beyond your legal services.

Of course you can also help prospects and professional contacts and personal friends. And you should. The more people you help, the more people there are who want to help you.

Where do you find the time for all this non-billable work? Think of it as marketing time. Marketing is helping, after all. And remember, it might be non-billable time, but it’s anything but non-paying.

Filed Under: Client loyalty, Client relations, Marketing legal services, Relationship marketing Tagged With: zig ziglar

A recipe for better clients and bigger income

September 23, 2014 by David M. Ward

The other night my wife and I watched “Jiro Dreams of Sushi,” a documentary about “Sukiyabashi Jiro,” a famed sushi restaurant in Japan and it’s master chef and owner, Jiro Ono. Actually, she watched it while I dozed, but I caught enough of it to realize a few things.

First, if the reaction of the restaurant’s patrons is any indication, I probably should try sushi one of these days. His customers practically swooned as they consumed their meal, and this in a country that eats lots of sushi.

The second thing I realized is that Mr. Ono is earning a small fortune. The bill for a meal starts at 30,000 yen, which is around $300, and you have to make a reservation a month in advance. That’s for locals. Customers fly in from all over the world and book a year in advance.

What’s the reason for his success? He charges premium prices for a premium meal. He uses only the best fish, which is laboriously prepared and presented. The result is an amazing culinary experience, earningÂ Mr. Ono’s restaurant a coveted “Three Stars” in the Michelin guide.

And it’s a little hole in the wall.

Clean as a whistle, but no atmosphere. Just ten seats. You sit at a counter, Mr. Ono serves you and watches you eat, gauging your reaction. No dilly dallying, mind you. He serves, you eat, and you’re done. “No soup for you!”.

Actually, there is no soup. Or noodles or appetizers. Just sushi.

Anyway, the point is that if you want to have better clients who fly in from all over the world to hire you and pay you higher fees and tell everyone they know about you, you can, if you offer a premium service. Find something you do and make it the best of it’s kind.

You will attract the best clients, the ones who value quality and are willing to pay for it. By charging premium fees, you need fewer clients. But you will have just as many hours available each day and can devote more time to each client. This will allow you to deliver remarkable service that generates repeat business and referrals.

You’ll have it easier than Mr. Ono, however, because he has discerning customers who instantly know that his work product is the best they’ve ever tasted.

Filed Under: Client loyalty, Fees and Billing, Increase your income, Marketing legal services Tagged With: Sukiyabashi Jiro, sushi

A simple legal marketing plan

September 11, 2014 by David M. Ward

I like simple. Simple is easy to understand, easy to remember, and easy to do. So when it comes to writing a legal marketing plan, you guessed it, it should be simple.

Here’s that plan: “Two a day”.

Talk to two people a day who are in some way connected with your target market.

Examples:

Call a lawyer or other professional you don’t know and introduce yourself
Call a professional you haven’t spoken to in a long time and ask how they’re doing
Hand out your card to someone you meet in line for coffee
Call a former client, “just to say hello”
Invite a prospective client to coffee or lunch
Call a blogger in your niche and compliment something they wrote
Call someone who just got hired or promoted and congratulate them
Call new business owners and ask if they would like a free copy of your business report
Call the head of an organization and ask if they need a luncheon speaker

You get the idea.

The only rule is, you’ve got to call or speak to them in person. No email.

Why call? Because a professional practice is about the people. Not paper, not electrons. Flesh and blood people who can hire you or recommend you to others. Reach out and connect with enough people and you will never want for business.

If they’re not in, it’s okay to leave a voice mail message. Let them hear your voice, your sincerity, your lack of agenda.

Talk to two people a day. It should take you a minute or two, plus the time to decide who to call. If you don’t know who to call, call every one of your former clients. Or get a directory from a bar association, chamber of commerce, or business networking group and call through their membership list.

Two a day doesn’t sound like much but in the course of a year you’ll speak to more than 500 people.

At the end of each business day, before you go home, ask yourself, “Did I do my two today?” If you did, great. You’re working your plan. If you did not, pick up theÂ phone and call someone.

For a slightly more robust, but still simple legal marketing plan, get this

Filed Under: Client loyalty, Marketing Plan, Referrals