November 13, 2008 -- Program Summary

Presented by the Wicker Park Group:

Nathaniel E. Slavin, Founder & Partner
Kent M. Zimmermann, Founder, Partner & General Counsel

____________________________

What does inside counsel really think of its law firms? This was the central question posed by the two principals of the Wicker Park Group, and the answers were, to some extent, eye-opening.

While it was no surprise to hear that the marketplace for legal services is more competitive than ever, it was perhaps something of a jolt to hear that 60% of GCs had recently fired or planned to fire their primary law firms. And since overt firings are increasingly taking a back seat to the gradual removal of choice assignments, many of the affected law firms may not even understand they’re in the process of being fired.

Surely no one was shocked to hear that cost control is at the top of most GCs’ agendas, but who knew that 79% of them don’t trust their outside counsel to manage costs, or that 54% don’t believe their law firms have a vested interest in finding more cost-effective document review strategies?

But cost issues aside, the dominant theme of the afternoon was the perceptual disconnect between inside and outside counsels. While law firms generally think they do a great job for their clients, the numbers cited tell a much different story. Over half of GCs are unhappy with their primary law firms, while a whopping 80% of them don’t believe their law firms understand their business goals and strategies. But especially sobering was the assertion that only 35% of GCs would actually recommend their primary firm to someone else.

The good news was that many of these negative perceptions can be changed, simply by remembering the basics of being in a service business. Even small gestures can go a long way towards improving relations. One anecdote was particularly instructive—how one outside attorney asked for, and received, a tour of his client’s production facility, a simple gesture that paid enormous dividends in positive perceptions of both the attorney and his firm.

The lessons here are simple. Treat your client as if he/she is the only client you have. Make that client feel you are bending over backwards to find ways to reduce costs, anticipate problems, and eliminate surprises. Generally, remember that you’re not the only one with a career that needs advancing—when you help advance your clients’ careers, your own career will take care of itself.

In other words, don’t just meet expectations—exceed them. The two presenters put an exclamation point on this notion by closing with a quote from the guru of service industries, Harry Beckwith, who says in his book The Invisible Touch:

‘Satisfied’ clients do not help your business, and ‘very satisfied’ clients help only a little. You want surprised and delighted customers…who will not simply offer nice references, but volunteer them.