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Presented By: Presented By: Tarunjeet Singh, Senior Attorney– Draft n Craft Sagar Pratap Singh, Business Development – Draft n Craft Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.
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Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

Jul 11, 2015

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Page 1: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

Presented By:Presented By:

Tarunjeet Singh, Senior Attorney– Draft n Craft

Sagar Pratap Singh, Business Development – Draft n Craft

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 2: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

Skills Of AttorneySkills Of Attorney

Performance ByyAttorney

Satisfaction ofClient

Willi fWillingness ofClient

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 3: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

Client Retention a Real Dilemma for Client Retention a Real Dilemma for You..???You..???You..???You..???

As a professional, do you always ask lfyourself:

WHY retaining a client is TOUGH

HOW i it AFFECTING d t d kHOW is it AFFECTING my day-to-day work

WHAT should be the RIGHT STRATEGIESWHAT should be the RIGHT STRATEGIES

HOW to overcome this BIG CHALLENGE

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 4: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

WHO is representing me?WHO is representing me?

WHAT would I expect?

What’s there for me?QualityQualityCompetitive PriceSatisfactionAttorney Client PrivilegeEfficient & Proactive Services

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 5: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

9,000+ law firms in England and Wales

15% to 20% law firms in serious financial difficulties and on the verge on insolvency merger or closureinsolvency, merger or closure

Recent Mergers:g• Pinsent Masons and McGrigors

• Davies Arnold Cooper and BeachcroftDavies Arnold Cooper and Beachcroft

• Barlow Lyde & Gilbert and Clyde & Co

• Weightmans and Mace & JonesCopyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 6: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

WHAT are you going to ensure

WHEN are you going to ensure WHEN are you going to ensure

HOW are you going to ensure

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 7: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

CUSTOMERS = CLIENTS

Customers are served by processesy p

85% of customer related problems arecaused by professionals/organisations work procedure

To better serve customers, professionals/i ti t i th i organisations must improve their

approachesCopyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 8: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

- Clients seek to maximize value by:Clients seek to maximize value by:

ESTIMATING which lawyer/firm delivers the t lmost value

- Lawyers, on the other hand do it by:Lawyers, on the other hand do it by:

FORMING an expectation of value and acting upon it

EVALUATING their usage experience against EVALUATING their usage experience against the expectations

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 9: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

80%

90%

m

60%

70%

80%

ned

from

ear

40%

50%

60%

e Re

tain

viou

s Ye

20%

30%

rcen

tage

Prev

0%

10%

1 2 3 4 5

Per

1 2 3 4 5Years as a customer

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 10: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

STEP 1:

Ask

STEP 2: Evaluate

STEP 5: ACT

STEP 3: Stimulate

STEP 4: Reward

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 11: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

FIVE Client Retention Strategies:

Segment existing clients

Interview “must-have” clients

Create a unique “value-add” strategy for each client

Communicate your value-add strategy

Track results and monitor responses

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 12: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

Understand & Involve the CustomerUnderstand & Involve the Customer

Focus on Key Problems

Select the Right Change Leader

Seek Ideas from Outside the Field

and Organisation

Do Rapid Cycle Testing for quality Do Rapid-Cycle Testing for quality

business

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 13: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

Approx 84% of professionals/ organisations uses client retention organisations uses client retention marketing strategies..

M i t i D t bMaintain a Database

Stay in Touchy

Welcome Complaints

Loyalty Programs

Do a Good JobDo a Good Job

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 14: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 15: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

Small changes do increase client satisfactionsatisfaction

Satisfied clients are more likely Satisfied clients are more likely to show up again and continue your services

More clients make your work dimore rewarding

More admissions and fewer More admissions and fewer dropouts improve the bottom line

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 16: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

Keep measuring and Keep measuring and

studying the results

until you reach your

bj ti d i objectives and improve

as much as you

DESIRE…!

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.

Page 17: Clientretentionadilemma19junewebinarfinal 13468883786428-phpapp01-120905184107-phpapp01

AskQuestion..AskQuestion..Question..Question..

Draft n Craft Legal Outsourcing Pvt. Ltd.

Website: www.draftncraft.com

Draft n Craft Legal Outsourcing Pvt. Ltd.

Website: www.draftncraft.comWebsite: www.draftncraft.com

Email: [email protected]

India: +91 11 2341 4576

USA: + 1 516 515 3510

Website: www.draftncraft.com

Email: [email protected]

India: +91 11 2341 4576

USA: + 1 516 515 3510

UK: + 44 20 3318 3559 UK: + 44 20 3318 3559

Copyright © 2012 Draft n Craft Legal Outsourcing Pvt. Ltd.