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 like firing blanks. These teams quickly lose ground to the fully armed, funded team.
The funded team can (and does) perform client research, develops client-specific tools and educational platforms, spends more time with clients outside the context of current matters—all key components of a client-centric growth strategy.
The most powerful ingredient in any client team is your client. Your ability to leverage your client’s needs, objectives, preferences and priorities drives success.
More than 500 law firms are competing for Fortune 1000 clients. These clients just reduced their law firm rosters. The best armed, best trained and best implementers will defy market conditions and gain share—and clients.