Law Firms finally turn to a proven form of market research to learn what they thought they knew.
By Micah U. Buchdahl
For starters, it is important to point out that client surveys are different things to different people. And there is no single “correct” way of doing them; only “incorrect” ones.
Client Surveys can range from virtually no-cost (online, telephone) to little cost (via mail) to varying levels of budgets (in-person meetings, focus groups). Your budget should be driven by (a) the type of practice; (b) the type of clients (i.e. consumer, general counsel, prospective client); and (c) the goals for utilizing the survey data.
For budgeting purposes, the most significant cost is often in the third-party that structures the survey, conducts the interviews and creates a report from the findings. Many elements of the survey preparation (such as client/industry research) can be conducted by the firm to lower cost. Keep in mind the internal costs of billable hours and marketing staff when defining project cost.
Personally, I started focusing on client surveys after seeing the way many consulting firms promoted law firm client surveys in their own written promotional materials. They often focused on how the firm was described, or how they felt about the firm (i.e. satisfied, dissatisfied, tolerable); lots of benchmarking; and the process of hiring outside counsel. Those are weak starting points because human nature prevents people from telling the truth in response to those types of inquiries. That is not to say you can not get the answer. Only, it must be through more general approaches to the industry and the practice of law.
While “benchmarking” and comparative data from similarly-situated firms are nice to show how you might stack up with another, I often ask “who cares?” I need to now how I am doing and how I am perceived and how I can improve things. “Deliverables” through solid market research. Translating data into dollars, through action plans and better short and long-term strategic planning within your firm.
What a survey can help you accomplish:
Planning for a Successful Client Survey:
Which clients participate?
Depending on how extensive the project is will dictate the mix of clients participating. In some instances, a boutique may only seek out data from one type. In others, the target is limited to a specific set (i.e. Fortune 100 GCs). The selections go back to the goals (which can vary significantly).
What type of questions do I ask?
Poor surveys focus too much on what the law firm does, do not or might supply. The true value is in learning what the client and the client’s industry is doing.
Plan of Action
Do not ask about what you can do better and NOT immediately address the issue.
Client Services:
Just one component to the standard in-person client survey meeting.
Do you even get the RFP?
Make sure you are invited to pitch, for areas and offices that are outside the scope of the business you are getting, but not outside of what you or your firm can offer.
Is there such a thing as too much experience doing client surveys?
Yes. Chances are the more surveys a firm is doing, the more cookie-cutter the approach and the results. In addition, if you are doing major “players” in many markets and industries, you do not want the same third-party interviewer going back for yet another law firm. As a rule, I keep the firm; the results; and the findings from surveys strictly confidential. Many companies sell the idea that they make results available through databases and publications. That data, if handled right, is some of the most sensitive (and valuable) market research you’ve got.
Real Life Law Firm Survey Samples:
All of the following examples can be found on the respective law firm web site.
Fulbright & Jaworski
Litigation Trends Survey
For the second year in a row, F&J commissioned an independent survey of corporate General Counsel, in the US and UK, regarding a wide range of litigation trends. The 354 conducted interviews made this a statistically significant survey sample.
General Topics addressed: Litigation Exposure, Experience, Cost; Measuring Success; Litigation Management, Hold Policies; Class Actions; International Arbitration.
Kirkpatrick & Lockhart
Top of Mind Senior In-House Counsel Survey
For the third year, KL commissioned independent researchers to interview senior in-house counsel in FORTUNE 500 and 1000 companies. Phone interviews with 97 senior decision-makers.
Fennemore Craig
Client Service Survey
Online at www.fclaw.com
Powell Goldstein
Client Interview Program
The web site has a description of the rationale, purpose, outcome and program administered by the firm, online at www.pogolaw.com/f-cip.html