In a competitive market, where firms are striving for a competitive edge, momentum can be the difference between success and stagnation. But how can Marketing and BD teams build this momentum and turn insights into actions that drive incremental revenues? The answer is to create a Feedback Flywheel.
Have you ever thought about your client feedback programme as an orchestra? When you're using all your sources of client feedback – both formal and informal – you hear a performance that's in perfect tune and harmony. But if your feedback programme is a series of seasonal projects, then you start to get a cacophony of disjointed voices – it’s time to unify the voice of your clients.
While Marketing & BD teams see the internal benefits of client listening, many firms remain reluctant to embrace a formal client listening programme. Perhaps this is because – ironically – the client perspective is missing from the debate? While fee-earners continue to argue for the status quo because "I know my clients", the truth maybe that they only know what they want to know about their clients. Forward-looking firms are looking at this differently and asking 'what do our clients want us to know'? Building on this, the next step becomes 'how do we show our clients that our firm is listening'?
The Legaltech world is buzzing about how AI can help lawyers work faster and smarter. But have you considered how AI can enhance the overall client experience?
Marketing & BD teams are responsible for discovering whether lawyers working faster and smarter is translating into delighted clients willing to trust the firm with further work and referrals.
Luckily AI is helping teams to amplify the clients voice through improving the volume of feedback collected, the quality of feedback data collected, the speed and depth of text analysis and the actionability of insights.
Have you started using AI to measure your brand promises? Measuring your brand through annual research is no longer the best way to track progress. Client needs and expectations – not to mention the services delivered by your competitive alternatives – are evolving too quickly.
Client-focused firms are looking for a fresh and relevant flow of insights that can be delivered by proven AI algorithms to generate brand signals in real-time.
How strong is your law firm branding? Brands and client expectations are dynamic. Unless your brand measurements are equally dynamic, you risk losing sight of the gaps between the promises your firm is making to clients – on pitch decks and web pages – and the experiences your client’s are actually having.
