Look at any business in history and there is always more upside for companies that are more innovative. The downside is reserved for those that cling to the old ways of doing business, doing the same things they have always done and, somehow, expecting a different result — which is the very definition of insanity.
So when is the last time you really looked at your business practices and questioned if they could be improved? If it’s been awhile, then consider what kind of innovations you can bring to the table that benefits your law firm and your clients in the areas of:
Communication. This is fundamental to building a strong relationship with clients. You must stay on top of your email and phone messages. If you spend a lot of time in court, then you need to manage client expectations that they can expect a response by the end of the day. Be sure you have a staffer scouring your email for client requests that can be handled without your intervention (not legal advice, of course). What other ways can you make it easier for clients to communicate with you?
Operations. Do clients simply hard to deal with your firm because you lack the systems to handle their business? There is no excuse for this since off-the-shelf software exists for every business function. Do you have the capability to bill according to their needs — i.e., getting your bills in by a certain date every month, billing by project rather than hourly, etc. You need to make it as easy as possible for clients to do business with you or eventually they won’t.
If you have been thinking about converting to flat fee billing, I urge you to watch our How to Make Flat Fee Billing Work for Your Law Firm webinar, share it with your entire staff, and then work together to make it work for your firm.
Lead conversion. Do you have a system in place that nurtures your leads along a predetermined path until they sign up? A way of sending regular communications to former clients and referral sources to keep you top of mind for legal work? If you’re spending time and money on generating leads and then letting those leads languish, you might as well throw your money out the window.
We have developed a software-generated approach that includes training and consulting with a firm’s staff on best practices, but at the heart of it is a software-driven system that tracks where all your leads are coming from.
This system tracks what your conversion rate is by office location if you have multiple offices, by attorney, how many of those appointments actually show up, how many convert to retained clients, and more. If you would like to find out more about the Rainmaker Lead Conversion System and automated marketing software we customize for clients, you can request a demo.
In today’s hyper-competitive legal services market, necessity will surely be the mother of your reinvention. Don’t be afraid to make the necessary changes that will help grow your practice in 2016.