Everyone knows we are in the midst of some tough times. Many law firms and corporate America in general may never be the same. So what can you do to weather this storm? One thing is to keep your clients close.
Hildebrandt just came out with their “Special Client Advisory: Fall 2008.” This advisory delineates nine steps for firms to follow to help them stay afloat during these tough times. Number eight, quoted below, talks about the importance of nurturing your relationship with your existing clients. Read below.
"Eighth, stay in close touch with your clients, especially those key clients that are important to the firm’s future. Now is not the time to save money by cutting back on productive marketing expenses. Your clients are experiencing the same anxieties and uncertainties as the firm itself, and ramping up communication to them will stand the firm in good stead when economic conditions improve. Lawyers have time on their hands, so put it to good use with increased focus on client development, client teams, and appropriate business development training."
Having a plan of action is key right now for law firms. Number eight on this list can really help to pull you through these tough economic times, and even put you in a better position when this is all over. Good luck!