The Mad Clientist Archives - Page 63 of 85

Clients See Ghosts of 2008 Return—This Time Will Be Different

The risk/reward ratio for law firms and top legal decision makers has just made its biggest change in 8 years. Your client’s concern about risk is soaring to levels not seen since the last economic crisis. In this context, it is not surprising to see top attorney rates hit new…

Michael RynowecerJune 15, 2016

The Mad Clientist

The Most Recommended Law Firms 2016

Last week we shared why 40.1% of legal decision makers recommend their primary law firm to a peer—it all comes back to client service. Client-to-client recommendations are the express lane for new client relationships and new business.Clients tell us there is virtually no limit to the number of actions, strategies…

Michael RynowecerJune 8, 2016

The Mad Clientist

Client Service Recovers from Record Drop Driving New Business Gains

Only 40.1% of clients recommend their primary law firm to a peer, after the second biggest drop on record last year, when 33.3% of clients recommended their primary law firms. The increase is impressive but still leaves more than half of all clients wanting—and these clients will seek out, find…

Michael RynowecerJune 1, 2016

The Mad Clientist

How To Be One of 6 New Law Firms Clients Audition for Big-Time Work

Top legal decision makers added 6 new law firms to their panels, bringing the total up to 42* from a record low 36 in 2014. While up a bit, 42 firms remains the second-smallest panel in the last 16 years.Client service reached an all-time low in 2014 and the impact on…

Michael RynowecerMay 25, 2016

The Mad Clientist

7 Rules to Virtually Double the Practices You Deliver to Clients

The typical primary law firm delivers 1.8 practices to each of their major clients. The best performers, those who collaborate and set the standard for superior client service, deliver 3.2 practices to their clients.The law firms with strong collaborators get more business while keeping competitors out of their client base.…

Michael RynowecerMay 18, 2016

The Mad Clientist

Is $5,000 an Hour Next?

The bull market in high-end work makes hourly rates defy gravity.The dramatic increase in clients’ need for complex and bet-the-company work is bad for clients but downright awesome for law firm rates. The highest rate in the market now commands 2.9 times the average rate clients pay. Clients* give BTI…

Michael RynowecerMay 11, 2016

The Mad Clientist

How Many Law Firms Fail This Business Development Test?

Tom and Mark, two brothers who had worked for 26 years to build their company, reached a pinnacle moment. Their now substantial wealth was fully invested in the company. The brothers were reaching a point in their lives where they wanted to ensure the future financial security of their families.…

Michael RynowecerMay 4, 2016

The Mad Clientist

BTI State of Alternative Fee Arrangements 2016

The votes are in and clients are loving AFAs. The data in BTI State of Alternative Fee Arrangements 2016 shows just how much. In addition, top legal decision makers identify 22 of the 650 law firms serving large and Fortune 1000 clients as absolutely best at developing and implementing alternative…

Michael RynowecerApril 28, 2016

The Mad Clientist

The 22 Law Firms Best at AFAs

Top legal decision makers identify 22 of the 650 law firms serving large and Fortune 1000 clients as absolutely best at developing and implementing alternative fee arrangements*, and shared 6 reasons these firms stand out:Partners have authority to enter into an AFA quickly. These partners do not have to wait…

Michael RynowecerApril 27, 2016

The Mad Clientist

AFAs Soar to an All-Time High

The votes are in. Clients are loving AFAs. And we’ve got the data* to show just how much:Alternative Fee Arrangements (AFAs) now account for $21.3 billion of outside counsel spending in 2015, up from $13.1 billion in 2013. AFAs are the biggest growth market around—registering a 19.8% compound annual growth…

Michael RynowecerApril 20, 2016