Some of the surprise statistics that came to light during the Chief Marketing Officers Forum in New York were:
- Almost two-thirds (62.7%) rated client interviews and surveys as a “very effective” or “extremely effective” strategy for leading to business development. Almost 29% rated this strategy as at least moderately effective; only 8.5% rated the strategy as ineffective.
- More than half of all firms are conducting client satisfaction surveys — up from roughly 40% as reported by other surveys.
These surprises were delivered by Charles J. Lowry of New York, the Director of Sales and Marketing for Incisive Media’s ALM Research, based on the 2008 ALM Research Survey Report: Law Firm Business Development Practices Survey.
He reprised the presentation in last weeks Webinar Getting Client Feedback to Generate More Business along with law partner Patrick Lamb, founder of the trend-setting Valorem Law Group in Chicago.
Should law firms conduct client satisfaction surveys? "Its a no brainer," said Lamb, who has personally conducted more than 60 client satisfaction interviews. "Clients LOVE them, and ultimately, nothing else matters. Plus they make great economic sense. It costs five times as much to find a new client to replace one that your firm lost because of inattention."
Client surveys also generate new work and favorable referrals from that client, according to Lamb. Not that law firms should use surveys as a direct marketing tool, Lamb emphasized. But the good will generated by conducting a survey will dispose the client to send more work and build word-of-mouth advertising about the law firm.
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