Relationship Bliss: also known as your law firm’s goal for every client relationship. Relationship Bliss is also created by the 4 client service activities most important to corporate counsel, while providing the highest levels of differentiation for your firm.
BTI’s research shows the law firms able to deliver best-in-class levels of service in these 4 activities will outpace competitors not performing at peak levels with:
- 30% higher profits
- 7% rate premiums across all staffing levels
- Double the fees from a single client
- 35% higher client retention
The BTI Client Service A-Team 2017 includes the law firms best at these 4 Relationship Bliss Activities:
- The Law Firms Best at: Showing Commitment to Help
- The Law Firms Best at: Client Focus
- The Law Firms Best at: Understanding the Client’s Business
- The Law Firms Best at: Providing Value for the Dollar
While the 4 activities above have the strongest statistical correlation to financial benefit, every one of the 17 Activities has a crucial role in the development, maintenance, and ultimate growth of your client relationships.
Price of Admission: Without these 6 activities—including Legal Skills—clients won’t even consider hiring you. These activities are of high importance but are also widely available. Clients expect you to deliver these activities in order to win work, but they are not the sole deciding factor.
The BTI Client Service A-Team 2017 includes the law firms best at the following Price of Admission Activity:
- The Law Firms Best at: Delivering Legal Skills
Business Magnets: These 2 activities are an anomaly. They are of lower importance and are less differentiating with most clients. BUT—and this is an important but— these activities attract the type of work most law firms are seeking: the largest-spending, least price-sensitive clients with a large number of complex needs.
These activities attract new business and new clients. However, once a legal decision maker finds a firm excelling in these activities, the ongoing relationship is driven by the firm’s performance in the Relationship Bliss activities.
The BTI Client Service A-Team 2017 includes the law firms best at the Business Magnet Activities:
- The Law Firms Best at: Anticipating the Client’s Needs
- The Law Firms Best at: Innovative Approaches
You can learn about all of the 17 Activities, including the 10 not mentioned above, which drive client service—as well as where your firm stands and how you can improve in each of the 17 Activities—by ordering your copy of the BTI Client Service A-Team 2017: Survey of Law Firm Client Service Performance. Your order includes a custom comparison of your firm’s performance in each of the 17 Activities with up to 8 competitors of your choice.
The 17 Activities are also discussed in greater detail in Michael’s book: Clientelligence: How Superior Client Relationships Fuel Growth and Profits. Based on 14,000 in-depth interviews with clients, this consistent and systematic approach to developing superior client service skills gives you unparalleled access to your clients’ most complex—and premium-rate—work.