Everyone gets excited when a new client comes on board. Once they are signed, keeping them and providing excellent experience is a must. But how do you get that client to sign in the first place?
Winning new business in a competitive legal industry is not easy. There is a lot of money involved and often a lot of emotion in the decision. We know that today clients are buying value more than ever, they want total solutions and they are willing to select individuals best suited to resolve the issues at hand rather than staying with a firm they have worked with historically.
When we consider prospecting, it is not just about attracting to new clients to the firm, it is often about getting more business out of the clients we have. Call it prospecting, business development or cross selling, the result is the same – new business. The tips below should help you achieve that new business.
- Education: You need to show expertise not just say you are an expert. Sometimes you need to give away something for free to get someone to pay you. That may seem counterintuitive but if you give away high level understanding, people will pay for your deep knowledge
- Reputation: Your name and the name of your firm matters. Reputation is gained over a long period of time but can be lost in an instant. It is very important that you keep on top of your reputation so that in case it takes a hit you can act quickly and rebuild if necessary.
- Communication: Listening is more important than telling. Meeting a prospect for the first time or cross selling to a client you already have requires the same amount of listening. Telling a prospect how great your firm is at real estate law when they are looking for class action or employee support will not help your case. Listen to their needs and make them understand how you and your firm have the capabilities to resolve the problems of today and tomorrow.
- Be different: We understand the tried and true and we all look at our competition to see what they are doing. But unless they are winning all the time, following the rest will not help you. It is not about following the leader, it is about differentiating yourself. Being different is ok, in fact it is encouraged as it shows prospects that you are leading the pack not following it.