The Mad Clientist Archives - Page 76 of 84

4 Innovative Actions to Add Outsized Value Today

You can start the march to add outsized value and boost client service today. Ok, maybe Monday. Start slow and be selective. Focus on your largest clients. You can mix and match where you feel comfortable—but no matter how you move ahead—embrace at least one of these client building strategies:…

Michael RynowecerApril 17, 2014

The Mad Clientist

2 Law Firms Get 50% of the Budget—45 Fight for the Rest

The typical large corporation is working with 47 different law firms at any given point in time. The average middle market company works with 8. Meaning, law firms compete with somewhere between 7 and 46 firms every day at a single client. Your competitors want to grow by at least 5%…

Michael RynowecerApril 10, 2014

The Mad Clientist

The 7 Stages of Client Relationships

For most firms, quantity and size come before strength and quality when counting clients. We always want more and bigger. But without core strength or understanding our depth of quality, we know little about what each client relationship can be and how long it may last. Knowing where we stand with clients…

Michael RynowecerApril 2, 2014

The Mad Clientist

Are Your Client Relationships Good…or Simply Good Enough?

Unless your firm has robust client feedback in place, you are simply guessing at how good your client relationships are. Clients are the only true judge of the strength for every relationship we hold dear. We brought back the BTI Client Relationship Scorecard, last published in 2009, because law firms…

Michael RynowecerMarch 26, 2014

The Mad Clientist

Law Firms Hyper Focus on Existing Clients: Only 1/3 Mean It

Fully 92% of law firms are targeting existing clients for growth. Only 33% of these same law firms are funding their client teams to invest in these prized existing clients. While client teams are a proven tool to gain market share in a flat market—unfunded client teams are a bit…

Michael RynowecerMarch 19, 2014

The Mad Clientist

Firms Acting on Client Feedback Perform 2.7 Times Better Than All Others

58% of law firms conduct client feedback. Virtually all benefit—but 20% of these firms are able to transform this feedback into outsized benefits. Specifically, these firms perform 2.7 times better than others in revenue generation, client retention and year-over-year growth. What’s their secret? The client feedback becomes part of the…

Michael RynowecerMarch 12, 2014

The Mad Clientist

BTI at LMA 2014—Clientelligence: The Cold, Hard Facts on What Your Clients Really Want from Your Firm

The strongest market driver for you is what your clients—and your potential clients—want. BTI draws on its unrivaled research and work with market leaders in virtually every major profession to define how superior client service accelerates profits for law firms. Michael B. Rynowecer not only paints a picture of exceptional…

Michael RynowecerMarch 10, 2014

The Mad Clientist

The Mad Clientist Short Takes—Spring Forward Into Better Client Relationships

Throughout our interviews with corporate counsel, The Mad Clientist hears succinct and hard-hitting views on all aspects of client thinking. As the year unfolds, we are seeing clients’ expectations of law firms changing; demanding you look back, plan ahead and spring into action…all without the client asking. Two corporate…

Michael RynowecerMarch 5, 2014

The Mad Clientist

Corporate Counsel Reverse Course—Cut Law Firm Rosters

Corporate counsel dropped 2 major law firms—and 5 smaller players—from their rosters in 2013; leaving 47 law firms in place to handle their legal needs. Corporate counsel have long struggled with finding the right firms and the right balance of work. After adding 8 law firms in 2012, this latest…

Michael RynowecerFebruary 26, 2014

The Mad Clientist

BTI Client Relationship Scorecard 2014: Ranking Law Firm Client Relationships

Profitability. Market share. Growth. Revenue. Law firms track their performance against any number of metrics, but at the heart of each of these is one vital component: client relationships. In the BTI Client Relationship Scorecard 2014, corporate counsel gauge the strength of their current relationships with law firms—by name—to provide…

Michael RynowecerFebruary 25, 2014