One of the challenges is that the traditional one-to-one, partner-to-client relationship model can be tenuous and lack sufficient data to generate the insights needed to grow and retain revenue across larger accounts. Without an informed client-experience strategy that is tailored to the B2B client, opportunities to upsell/cross-sell, retain and renew existing matters can be missed. Even worse is when partners enter unprofitable fee arrangements because they are at risk of losing a large client and do not have other retention strategies in place.

Consider the multiple user journeys of your B2B client

Take the time to map out and understand the various stakeholders within your client’s organisation. You will better understand how to generate value and make doing business with your firm preferable to that of your competitors. This is because the decision-making unit within the business may not have the same experience as the end user of your service.

Specific activities you can undertake include:

• Stakeholder mapping to identify the various users;
• Persona mapping to encompass the different users’ characteristics, goals, and expectations;
• Customer journey mapping to visualise the end-to-end experience of your user, touchpoints and the mediums in which they occur; and
• Empathy mapping to develop insight into what your user is thinking, feeling, saying, hearing, and doing in relation to the problem you solve.

Shift from a service-centric to client-centric mindset

Many law firms are, by nature, service-centric, focusing on their areas of practice. The focus has been to increase technical competency and sell their expertise. Client-centric firms see customer success as their end goal and evaluate themselves through the lens of their client. For example:

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• Has your process reduced contract turnaround time?
• Have you enabled growth within your client’s business through strategic introductions?
• Has the firm alleviated stress during a difficult time?
• Do your lawyers have an intimate understanding of your client’s business?

Make it a point to have multiple points of contact within your client organisation, across a range of hierarchies and functions. Traditional roles like relationship partner and introducer are still relevant, but business in the new age is a team sport, and you may need to reconceptualise the way you structure teams and reward performance.

Prioritise employee experience

New research indicates that positive employee experience leads to improved client experience and, in turn, to stronger revenue expansion. In fact, employee and client experiences reinforce one another through positive feedback. This means that taking care of the employees that make your firm’s vision a reality is imperative.

The definition of employee experience is the total of an employee’s experiences at your firm.

Many of the strategies employed to improve client experience can also be employed to co-create an employee experience that is aligned with your firm’s purpose, brand, and culture. It is no longer sufficient to delegate this function to HR alone; employee experience is a whole-of-firm commitment.

By focusing on the three major touchpoints of engagement, performance, and development continuously, you can capture the most significant employee-employer interactions that shape employee perceptions.

The following factors have a significant influence on the quality of the employee experience:

• The quality of the relationship that an employee has with their manager;
• The clarity of their role;
• The value they bring to their team;
• The space and place where they work; and
• How their work affects their overall wellbeing.

Invest in revenue lifecycle management

Revenue lifecycle management (RLM) focuses on ways to strategically grow revenue from existing clients. These opportunities present themselves at each touch point in the client/matter lifecycle, from engagement, through to matter management, to post-file review. Forbes Insights surveyed 300 executives at large enterprises across a range of industries and found that the following strategies enabled them to establish successful customer-engagement practices, leading to increased revenue:

1. Provide value daily;
2. Follow the money long term;
3. Focus on the client’s metrics — for example, how your service improves revenue, reduces risk, reduces cost, and saves time;
4. Partner with clients on business outcomes to save costs or drive revenue — for example, by investing in technology or processes that will lead to increased efficiency, setting up structures to attract investors; and
5. Keep abreast of the changing key performance indicators across the client’s journey — for example, from start-up to scale-up to acquisition, merger, or IPO.

Focus on earned growth

Earned growth refers to the natural consequence of satisfied clients who subsequently tell their peers about you. According to Harvard Business Review, 84 per cent of B2B sales begin with a referral, and peer recommendations influence 90 per cent of buying decisions. Your loyal clients are your best advocates. Commit to building lasting relationships with them from the beginning. This is especially important in the B2B landscape, where the relationship with your clients is long-term. Set up processes to gather feedback regularly about what you’re doing well and what you could improve during the life of a matter, and act on that feedback straight away. In addition, look for ways to refer business and strategic connections to your clients, and they are more likely to do the same for you.

Liz Chase is the co-founder and legal designer at Law DesignED and also a mentor and lawyer at Leo Cussen Centre for Law.