Big Law Life

#46: Key Client Insights Your BigLaw Competitors Are Missing

Nov 13, 2024

Discover how large law firms can enhance client relationships by understanding their selection processes. Learn the importance of candid client feedback and how it can improve services. Explore the common pitfalls in client assumptions that undermine trust. Uncover essential factors clients consider beyond legal expertise, and the value of postmortem discussions after bid outcomes. This episode provides practical strategies to position lawyers as trusted advisors and to use feedback as a vital tool for growth.

12:33

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Quick takeaways

Understanding client selection processes and criteria is essential for lawyers to tailor their approaches and avoid assumptions.

Actively seeking client feedback, even after successful engagements, strengthens relationships and helps lawyers improve their services.

Deep dives

Understanding Client Selection Processes

Understanding how clients select outside counsel is crucial for lawyers aiming to secure work. Many companies have established procedures for hiring, such as preferred provider programs, which require law firms to undergo extensive evaluation before being considered. Furthermore, different companies may have varied bidding processes, including first and final proposals or competitive auctions. By asking potential clients about their selection criteria and processes, lawyers can tailor their approaches and not simply assume a one-size-fits-all model.

Understanding Client Selection in Big Law Firms

6min

The Value of Client Feedback in Legal Services

7min

In today’s episode, I’m diving into the essential questions lawyers in large law firms should be asking their clients to strengthen relationships, retain business, and gain a deeper understanding of client expectations. I’ll share how law firms often miss out on valuable client feedback and provide a practical roadmap to get candid insights on everything from hiring processes to building meaningful connections and staying competitive in the legal landscape. Through specific examples, I’ll guide you on how to position yourself as a trusted advisor and invaluable partner to your clients.

At a Glance:

00:00 - Introduction to today’s episode
01:20 - Insights from a recent conference on client-centric practices
02:08 - Understanding a client’s process for selecting outside counsel
03:11 - How assumptions about client selection can harm relationships
04:12 - Exploring various bidding processes in client hiring
05:17 - Importance of postmortem discussions, whether hired or not
06:28 - Address the fear of client feedback as a growth tool
07:13 - Bring in business professionals to gather client feedback
08:18 - Frame questions to learn about competitors constructively
09:17 - Essential factors beyond legal skills clients look for
10:21 - Be prepared for potential negative client feedback
11:07 - Recognize specific client needs that may exclude certain firms
11:30 - Final thoughts on feedback as a tool for improving client relationships

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Show notes: https://www.lauraterrell.com/podcast