How sticky are your firm’s key clients?

Interesting take-out from the MPF 2022 Fall Symposium:

Fifty percent (50%) report that they are “very concerned” about the concentration of client relationships among senior lawyers. Another 36% are somewhat concerned. Yet, only thirty-five percent (35%) have plans in place to help transition senior lawyers toward retirement.

Which begs the questions: ‘How good is your law firm’s Key Client Account Program?‘; or, probably more importantly: ‘What processes do you have in place to ensure the clients of your firm are firm clients, not partners of the firm clients?

And, if you are not sure how to go about securing your firm’s key clients, check out some tips on this from Kim Tasso or Kevin Wheeler.

As usual, comments are my own.


Silvia L. Coulter: The Five Big Questions Every Client Relationship Partner Must be Able to Answer

Love this post by Silvia L. Coulter on LawVision (‘The Five Big Questions Every Client Relationship Partner Must be Able to Answer‘).

The 5 questions are:

  1. What are the top three strategic growth objectives of the company overall?
  2. Where is the company spending its R&D dollars? Or, for service firms, research investment dollars and efforts?
  3. What is the biggest challenge the company anticipates as it looks toward the upcoming year?
  4. For what services is the client working with other outside counsel and for which of these services will they consider the client relationship partner’s firm?
  5. Who at the C-level of each client should we meet next?

Which many of us would be challenged to know the answer to – and to know how important those answers are, check out her post.

If you have any ideas about additional questions that need to be asked, let me know


#ICYMI – Weekly Digest 320

In case you missed it (#ICYMI) Issue 320 of my Weekly Digest of all things going on in #legal #strategy #pricing #vbp #CRM #clients #customers #innovation was sent to subscribers earlier today. Check it out here – and if you like it, subscribe.