Peeking Around the Corner

Smart firms recognize that expertise might get you in the door with a client, but it is not going to set your firm apart.

One of the key areas where firms are differentiating themselves (and have been for years) is by providing proactive, client-specific insights. Clients often note that while they have a limited perspective, their outside counsel see the broader market and have greater awareness of trends, news, and analysis.

Clients especially appreciate when a relationship partner or other trusted advisor reaches out personally to flag something directly relevant to them. That kind of tailored outreach is often more likely to be read and valued than a generic update and can create an opportunity to start meaningful conversations and deepen the client relationship

When Wicker Park Group has asked about adding value, 19% of clients say firms can add value by being more proactive. This is the second most frequently mentioned opportunity, besides knowing clients’ industries better. 

Says one client: “It’s thinking about and pointing out stuff we are not thinking about. It means looking through things with the business lens and being proactive as a problem solver as opposed to just highlighting legal problems.”

Similarly, from another client: “Other firms proactively share trends, news articles, or emerging trends without being asked. It’s a whole different experience when the firm comes to us with that from their own initiative.”

Consider implanting some of these best practices to move beyond reactive and towards proactive:

• Set up Google Alerts for your clients to stay abreast of company news.
• Build trigger-based outreach system for regulatory changes, litigation trends, and business events.
• Establish quarterly proactive touchpoints for key clients.
• Utilize broader industry insights in those conversations to share beyond the client’s perspective.
• When you share industry news, explain the possible impact to the client succinctly. Offer a follow-up conversation if the client is interested.
• Develop “What you should be thinking about” briefings.