Business Development Archives - Page 32 of 32

60% of Clients Replace Their Primary Law Firm

60% of large clients have replaced one of their 2 primary law firms—the highest turnover rate in 7 years. The overwhelming reason—mediocre client service. The scary part—the client service isn’t bad—it’s just not great. Corporate counsel show shrinking patience for anything short of a superior client experience. Clients now believe even…

Michael RynowecerMarch 18, 2015

The Mad Clientist

Warning: Large Law Wants to Crush You like a Bug

BTI’s new research reveals the largest 30 law firms are the most aggressive when it comes to business development. Their goal is to crush you like a bug. No disrespect intended. No slight. Just business. These 30 law firms are virtually the only ones who describe their BD goals as…

Michael RynowecerMarch 4, 2015

The Mad Clientist

Business Development Lessons from Hannibal Lecter

“The answer is right in front of you...” —Hannibal Lecter to Clarice Starling, FBI Trainee, in The Silence of the Lambs The key to new business is right in front of you. The typical law firm has about 23% of the business they could be getting from a top client.…

Michael RynowecerSeptember 24, 2014

The Mad Clientist

Give a Hoot, Don’t Pollute

Every month, a typical General Counsel speaks with 22 partners—each from a different firm. While partners are discussing legal and case-specific issues, they are also looking for more work. GCs report 75% of these active matter discussions includes the partner doing one of the following: Asking for work in another…

Michael RynowecerJune 25, 2014

The Mad Clientist

The Mold Problem

We often think we need to come up with a solution on our own to prove we are worth hiring. But clients aren’t just looking for someone to take charge and save the day—they’re looking for an ally, an invested confidant. Clients want to play a role in the shaping…

Michael RynowecerMay 7, 2014

The Mad Clientist

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

13 Striking Opportunities for 2014

Silver linings are often lost in the headwinds of difficult market conditions. BTI’s in-depth interviews with more than 300 corporate counsel ferret out the opportunities offering rays of sunshine—and new business. The 13 best opportunities to drive growth in 2014 include: Corporate counsel expect litigation matters to surge by 62%…

Michael RynowecerDecember 16, 2013

The Mad Clientist

Law Firms Build Serious Marketing and Biz Dev Muscle

Lip service is over. Law firms are building marketing and business development muscle to drive market gains—and partners show their support by voting with their wallets. Law firms steadily boosted their investment in marketing and business development since 2010. Budgets at the 100 largest firms experienced a compound annual growth…

Michael RynowecerDecember 2, 2013

The Mad Clientist

Cross-selling: Legends, Folktales and Statistics

1. The typical primary law firm provides 3 practices to a single client. Fiction:On average, a primary provider delivers 1.8 practices to a single client—meaning most law firms deliver one, and a handful service 2 practice areas. The average client has 4 major practice needs and 5 minor, but measurable,…

Michael RynowecerOctober 30, 2013

The Mad Clientist

The Mad Clientist’s Maxims: The RFP Process is Neither Fair nor Objective

The only people who dislike RFPs more than you are your clients. To some, the RFP can serve as a beacon of hope to win new business—driving adrenaline levels and competitiveness sky-high. To others, the RFP is a wake-up call—a signal your client relationship is at risk because you are…

Michael RynowecerOctober 23, 2013