X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
The late 1990s and early 2000s were boom years for law firms as clients added dozens or even hundreds of firms to their portfolios. They thought it would allow them to cherry-pick the best legal talent in any given specialty and create competition among firms that would drive down costs. But what looked great in theory turned out for many to be a management headache that produced little real savings. So today, the boom has gone bust. Clients are taking the knife to their unwieldy rosters of law firms and paring back to a more manageable number of outside resources with whom they have more extensive relationships. Clients also are looking around to see if there is something better out there. More business, especially sizable pieces of business, is up for grabs these days than at any time in my recollection. This means that law firms can avoid the first round of cuts yet ultimately lose their place to a firm that wasn’t even in the original mix. Clearly, these are challenging times for law firms seeking to avoid the client’s chopping block. But the task need not be as daunting as it first seems. As a partner, and as part of the management team, I’ve played a hands-on role in retaining — and, yes, sometimes losing — clients. I have learned that, to secure a spot on the short list, firms must excel at four basic tasks that drive client satisfaction:

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.