Lawyers know delivering exceptional client experience is essential to attracting and retaining more high quality business. However, with daily pressures rising, research shows many clients do not receive the experience they were expecting.
The result? Client complaints.
Client complaints result in lost revenue, time spent investigating the complaint, disengaged employees and damage to the firm’s brand in the marketplace.
The impact of a dissatisfied client ripples into every facet of a law firm, internally and externally.
Ignore client experience at your peril
Ever increasing expectations of clients is an important factor to track. Working on continuous improvement of service delivery to exceed client expectations and improve client loyalty is an art and science that lawyers are now embracing.
Trust in digital reviews is at an all time low with people turning to people they know to find the right level of service for them. But even with recommendations from friends, colleagues and peers, more people are seeking reassurance that their chosen provider has been independently verified for the service they provide.
Here are our top 3 reasons why we think enhancing law firms' client experience is important:
1. Stand out from your competitors
Publishing prices for certain work types is a requirement of Transparency Rules. Many firms are worried about competitors seeing prices and under cutting them to attract price sensitive clients.
This is a very real threat for many firms.
However, firms embracing continuous improvement of client experience set themselves apart from their competitors. Research has shown that people do not buy legal services based purely on price. A high percentage of people value service and expertise and are willing to pay extra to ensure their legal problem is solved swiftly and efficiently.
Your clients are powerful. They have choice and are five times more likely to engage the services of a firm they know is delivering outstanding client experience.
2. No one talks about mediocrity
It is very true. We don’t talk about ok, so-so or average. But we do talk about polar opposites - our dreadful or fantastic experience.
Great client experience can take your brand to places beyond the boldest strategic plans.
Strategically improving client experience should not be discounted or neglected. Firms focusing on how to continually “wow” clients and use the collateral for marketing and brand positioning find clients become brand advocates and champions.
3. Watch the bottom line
It shouldn’t be surprising, but happy clients and high levels of client experience are positively reflected in your revenue.
Even disgruntled clients who don’t complain have a negative effect on your essential business metrics. The cost of marketing increases, lifetime value of the client decreases, client churn increases and in time, employee churn increases – with your best people leaving first.
If you are unfortunate enough to have a complaint made against your firm, the cost of investigation is significant – both the actual cost and the lost opportunity costs.
Improving client satisfaction should not be something you do occasionally when faced with a crisis. It should become your firm’s culture and way of life.
Providing an outstanding client experience will satisfy both you, your employees and your clients.
Your clients demand a high quality, consistent client experience and by delivering it, you will undoubtedly see an increase in your revenue.
At Investor in Customers, we have worked with many professional services firms, helping them to improve their client service experience. You can read some of our client testimonials here.
If you would like help in delivering an outstanding client experience, then contact us to arrange a meeting today.