Effective client retention strategies to boost profits

Venue: London

Location: London, United Kingdom

Event Date/Time: Jun 03, 2012 End Date/Time: Jun 03, 2012
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Research indicates that at any one time 22% of all law firm clients are considering switching firms. In this challenging legal market, firms cannot afford to lose existing clients and it is crucial to have a client retention strategy in place. The probability of selling service to a new customer is 1 in 16, while the probability of selling service to a current customer is 1 in 2*. However, firms often lack coherent retention strategies and have a "hit and miss" approach to ensuring that they are fully exploiting the latent potential of current clients.

This masterclass will help you build strategies for ensuring that your firm maximises the value of your existing client base through the deployment of retention and expansion strategies. It is well know that the easiest source of future revenue is the existing client base; by adopting a more strategic approach, appropriate structures, simple systems and better performance management you are able to both maximise retention and grow revenues.