Source: Adam Smith Esq, Author: Janet Stanton, Partner, Adam Smith, Esq
For unfathomable reasons many law firms and lawyers eschew client feedback.
The reason we’re baffled by this is that at its most basic, the business of law firms is to serve client’s needs. Let me repeat that… the business of law firms is to serve client’s needs.
As such, client feedback is a critical factor of your firm’s long-term health; not merely a “nice to have when we get around to it.” Not getting client feedback is akin to not seeing your doctor or dentist regularly; presumably your and your firm’s financial health is right up there with your own physical health.
While client feedback is nearly ubiquitous in all other industries (perhaps the balance 90%+ of the economy is on to something?), the legal industry has been slow on the uptake. Acritas/Thomson Reuters found that only 16% of clients reported being approached for their feedback. This can make it a competitive advantage for firms that meaningfully seek and respond to client feedback. Moreover, it is a demonstration of personal interest in your client and can further cement the relationship.
And, entirely contrary to many lawyers’ worries, clients affirmatively welcome sincere discussions about their business and how you can serve them better. Further, there is ample research supporting the tangible value of securing feedback in terms of increased revenue and stickier relationships.
Importantly, if there is “bad news” you should want to be the first to know – it is far, far better to hear of it before the prognosis becomes terminal, to continue the medical theme. Moreover, we bet that virtually all of your clients engage in some form of client or customer feedback; it is a well-accepted bedrock of Corporate Land – so clients are not in the least surprised at all by the notion.
Securing the feedback is just not that hard (if that thought gives you pause, consider other interlocutors; senior marketing folks or a respected 3rd party). Moreover, once you have the feedback, how the information is used can be as important as securing the insights, themselves. We’ve helped firms squeeze every drop of usefulness out of the feedback. It’s a big investment, so we advise firms on how to get the most out of it. For example, combine the feedback with other data you have about the client and the relationship for a more comprehensive understanding of the client and their needs; to know how to better serve them.
Zaven provides data, scorecards and more to both corporates and law firms to maximise transparency and efficiency of post mortems or quaterly/annual reviews. Read more here.
Read full article: https://adamsmithesq.com/2024/01/who-needs-to-be-listening-to-your-clients-you-do/
