Rates are sky-high and only heading higher. Client concern about rates is gaining momentum. But they tell us they are more troubled by a much bigger issue — 45% say their law firms are not fully invested in the relationship or the matter.

To take things further, men and women corporate counsel report vastly different levels of investment by partners working on even their most vexing matters. 61% of the men report their partners are fully invested — they are all in. But only 30% of women corporate counsel tell us the partners working on their matters are fully invested — less than half the rate of men. The reasons:

• • More women corporate counsel tell us they are getting stock answers to questions they think are highly nuanced and unique to their situation.
  • Too long to respond. In a world where corporate counsel are subject to a steady stream of questions about timely issues — they want and need answers.
  • Chasing partners. Corporate counsel report they receive most matter updates only after being prompted in some way.
  • No respect. These corporate counsel are surprised about how many partners tell them “not to worry” about issues they bring up or ask about.

The impact of these unintended behaviors is enormous. No top legal decision maker is going to build a relationship with a partner who is anything less than fully invested. And every client, men and women alike, remembers the partners who give less than 100% — well beyond any surge in demand.

We recommend the following to boost your investment now:

1. 1. Ask for feedback. This shows you care and want to make things better — even if you are already fully invested.
   2. Find an article you know will be of interest, or is relevant to your client, and share a comment or two about it.
   3. Always explain your answers to questions. If clients don’t have to worry about an issue of concern — explain why — and actively confirm you gave a thorough explanation.
   4. Provide updates before clients ever think of asking.
   5. Offer opinions and recommendations along with any deliverables, or as answers to questions.

The good news is a new surge of investment in relationships can erase the lack of prior investment — real or perceived — and set you up for a growing relationship. Best of all, these recommendations are effective with all corporate counsel.

Corporate counsel point to 50 midsize and smaller firms as delivering superior client service. Clients are using more midsize law firms than ever. With demand well in excess of supply and Big Law at capacity, midsize firms are getting some of the best opportunities for new work they have seen in years.

These clients also bring high expectations for client service. They expect more personal and customized service from smaller and midsize firms. Please join me in congratulating each of The BTI Midsize Client Service Masters for earning the highest respect for their client service prowess:

The 50 firms above are in the upper echelons of client service — delivering impressive performance belying their size — and a few have made it to The BTI Client Service 30.

To put this in context: 650 law firms are trying to compete for business at large companies. Only 281 are recognized for some aspect of client service.

Above all, you will hear clients talk about The BTI Midsize Client Service Masters’ excellent communication and client focus — which serves as the foundation to perform well in all the 17 activities clients use to assess client service.

This research shows law firms of any size can deliver excellent client service. Your client interaction outweighs any benefits of size.

You can get the details on how and why these firms stand out in The BTI Client Service A-Team 2022: The Survey of Law Firm Client Service Performance.

Law firms’ earnings season is almost as exciting as watching high tech stocks on Wall Street. The blowouts are big and stake out leadership positions. But these are no overnight successes. Each of these firms made bold and strategic moves with unmatched conviction — some earlier than others — all well in advance of March 2020. 5 of these moves stand out:

Industry Focus

Kirkland, Latham, DLA Piper, Ropes & Gray, Cooley, Mintz, and Goodwin developed deep, industry-focused, go-to-market strategies. Duane Morris saw revenue and profits accelerate after adopting its industry-focused strategy. Clients tell us Skadden digs in to understand their business and the deal. Top legal decision makers repeatedly tell us a law firm’s understanding of their business is the biggest differentiator in the legal market today. It is also one of the largest drivers of premium rates.

The Best Industries

The firms with the most impressive growth rates are focusing on the highest growth industries. Tech, Life Sciences, Private Equity, and M&A dominated the increased spending on law firms. The firms with mature industry programs became the go-to firms in these hot industries. They had already done the legwork and research to establish a leading position.

The Lateral Process

Some firms seek lateral partners while others look to fill specific roles — but the firms crushing earnings make sure the partners are successful after arrival. Kirkland, Latham, Cooley, Paul Weiss, and Ropes & Gray make this a marquee strength.

Account-Based Management

Dedicating resources (people, research, and tools) to understand individual client needs, expectations, and deliver across a spectrum of client needs is a proven and potent strategy. You will find this approach at the core of high growth firms who benefit from delivering a multitude of services — especially Latham and Kirkland.

Client Service Is a Core Principle

Every firm with outsized earnings and growth is a client service leader. At least 8 of the highest earning firms are on the BTI Client Service 30 this year and the rest are in the top 2% of all law firms. Excellent client service is a key component of client growth, inbound referrals, higher rates, and retention. And will keep clients working with your firm well beyond any surge in demand.

Firms of any size can adopt these strategies — and enjoy the results.

Start with client service; it sets up the framework for everything else. Develop standards and performance metrics for serving clients. These will drive how you implement the rest.

While the largest firms are the frontrunners — small and midsize firms can deliver the same results in their region(s), industry, and key growing practices such as data privacy, midsize private equity, life sciences, food, agritech, high tech, and media. These markets are big and boast start-ups, companies in the early development stages, and soon-to-be large companies — all with complex needs. And as the largest law firms continue to grow, the more they want only the largest clients — leaving the field open for so many small and midsize firms.

Unprompted communication is ongoing — and targeted — dialogue with clients. Legal decision makers see value in firms able to anticipate required information before being asked, including case-specific as well as general communication about upcoming issues they might face. Also, learn what it is exactly and what it means, according to clients.

Corporate counsel rank the following firms as best at Unprompted Communication in the just-released BTI Client Service A-Team 2022. Please join us congratulating these firms on this well-earned honor:

Learn exactly where your firm stands in this and each of the 17 activities driving superior clients service. Order your copy of the BTI Client Service A-Team 2022: Survey of Law Firm Client Service Performance for activities and best practices to help your firm demonstrate Unprompted Communication.

Legal decision makers look for informed opinions and recommended courses of action. Concrete advice provided with an understanding of business implications separates clinical analysis from higher-value, contextual counsel. Also, learn what it is exactly and what it means, according to clients.

Corporate counsel rank the following firms as best at Advising on Business Issues in the just-released BTI Client Service A-Team 2022. Please join us congratulating these firms on this well-earned honor:

Learn exactly where your firm stands in this and each of the 17 activities driving superior clients service. Order your copy of the BTI Client Service A-Team 2022: Survey of Law Firm Client Service Performance for activities and best practices to help your firm demonstrate Advising on Business Issues.

Legal decision makers want you to be professional enough to acknowledge a problem — and be prepared to present a path for moving forward. They expect accountability and action. Also, learn what it is exactly and what it means, according to clients.

Corporate counsel rank the following firms as best at Handling Problems in the just-released BTI Client Service A-Team 2022. Please join us congratulating these firms on this well-earned honor:

Learn exactly where your firm stands in this and each of the 17 activities driving superior clients service. Order your copy of the BTI Client Service A-Team 2022: Survey of Law Firm Client Service Performance for activities and best practices to help your firm demonstrate Handling Problems.

We had a truly awesome response to our rankings/directories post last week. The Mad Clientist received an abundance of questions so — we wanted to continue the conversation and share more about this new research with you.

As we discussed, clients use the most credible directories on at least 11 occasions. Corporate counsel head to the directories to validate or help them understand attorney behavior. Few (only 11%) go to the directories as a source of law firm hiring. Clients overwhelmingly rely on peer referrals for finding new outside counsel, but directories have grown into a widely used supportive tool.

You can find dozens of directories. However, our in-depth focus groups and broad research with top legal decision makers uncover the 4 directories standing out as most credible.

Client input is the largest driver behind credibility. The BTI Consulting Group relies solely on client input — many of whom we interview as part of our ongoing independent research we have been conducting for the last 31 years. They know us and use our benchmarks and research. Chambers also interviews a large number of clients as a core part of their process.

The Most Credible Directories

The BTI Consulting Group

Chambers

Honorable Mention

Best Lawyers

Legal 500

Top legal decision makers tell us Best Lawyers’ credibility is based on the directory’s large pool of peer (attorney-to-attorney) reviews which play a supporting role to client input about attorneys. Legal 500 is typically used by the very largest clients — especially those with direct international exposure.

Directories gain more importance at companies with more than $650 million in revenue. Top legal decision makers at companies under this threshold will typically head to LinkedIn as their first stop. But again, this is a validation and rarely a sole hiring factor.

Rankings and directories are part of the law firm world. 36% of clients are new to their role in the last 2 years. These clients want to learn as much as they can about the attorneys they inherit. This is especially true because, so few attorneys reach out to new corporate counsel. Directories and rankings help quench this thirst.

Legal decision makers believe your experience enables you to be fully prepared for any unexpected changes arising in a matter. Clients look to you to guide them through the issues they didn’t expect. An inability to adapt to new circumstances makes the client question your skills and quality. And the pandemic served to heighten this client expectation. Also, learn what it is exactly and what it means, according to clients.

Corporate counsel rank the following firms as best at Dealing with Unexpected Changes in the just-released BTI Client Service A-Team 2022. Please join us congratulating these firms on this well-earned honor:

Learn exactly where your firm stands in this and each of the 17 activities driving superior clients service. Order your copy of the BTI Client Service A-Team 2022: Survey of Law Firm Client Service Performance for activities and best practices to help your firm demonstrate Dealing with Unexpected Changes.

Clients expect to be informed throughout a matter: progress, lack of progress, unexpected circumstances, or changes. Regular, proactive communication is the anticipated standard. Failure to keep your clients informed cracks the foundation of client service and erodes relationships. Also, learn what it is exactly and what it means, according to clients.

Corporate counsel rank the following firms as best at Keeping Clients Informed in the just-released BTI Client Service A-Team 2022. Please join us congratulating these firms on this well-earned honor:

Learn exactly where your firm stands in this and each of the 17 activities driving superior clients service. Order your copy of the BTI Client Service A-Team 2022: Survey of Law Firm Client Service Performance for activities and best practices to help your firm demonstrate Keeping Clients Informed.

Most law firms understand scope. Yet, most client work will involve one or more changes in scope. Few mistakes sour a relationship quicker than not completing what you said you would, even if the scope

changed.

You can use scope to add value (communicate changes and their implications to clients in real time) or destroy value (overrun budget or timelines with little input from the client). Also, learn what it is exactly and what it means, according to clients.

Corporate counsel rank the following firms with the best Meeting Core Scope in the just-released BTI Client Service A-Team 2022. Please join us congratulating these firms on this well-earned honor:

Learn exactly where your firm stands in this and each of the 17 activities driving superior clients service. Order your copy of the BTI Client Service A-Team 2022: Survey of Law Firm Client Service Performance for activities and best practices to help your firm demonstrate Meeting Core Scope.