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Key Takeaways from the 2024 Legal Marketing Association Annual Conference – Part Six

Blog Post

We’re about halfway through this series on the key takeaways from the 2024 Legal Marketing Association (LMA) Annual Conference, and we are delighted to present further insights from day two of the conference.

Fishbowl Peer Exchange: Maximizing your Business Development, Client Service, and Cross-Selling Pipelines

Facilitated by David Ackert, Co-Founder & CEO of Ackert Inc., this interactive fishbowl session featured an array of speakers, including:

Our takeaways from this session focus on two key pipelines: Business Development and Client Service.

Business Development Pipeline

The conversation surrounding the business development pipeline delved into several strategic considerations, such as the initiation of training programs for associates versus simply hiring salespeople for business development. The speakers also emphasized the need to incentivize desired behaviours among young associates, suggesting adjustments to bonus structures or progression planning to account for their efforts. These efforts should be tailored to individual preferences and strengths rather than adopting a one-size-fits-all approach.

Tactics on how to target the firm’s top prospects were then discussed. The speakers expressed that a firm must tailor its business development strategies in order to secure those significant accounts. Other key components to developing a business development pipeline that can help land these top prospects include thought leadership initiatives, mentoring programs, and the implementation of newsletters to showcase successes and foster engagement.

Client Service Pipeline

In strategizing the client service pipeline, the speakers stressed the importance of initiating client service conversations right from the beginning. One proposed approach involved conducting surveys early on to understand client preferences, covering communication styles and billing expectations. These surveys could be administered digitally or facilitated by dedicated client experience professionals.

The conversation also addressed potential reasons for client disengagement, highlighting factors such as inadequate communication, lack of clarity regarding team members involved in their matters, and unexpected invoicing discrepancies. Proactivity, soft skills, and empathy were identified as crucial elements for maintaining client satisfaction, along with the overall likeability of the firm.

Read our previous blog post for further insights into business development.

What is the LMA Annual Conference?

The LMA Annual Conference is a premier event in the legal marketing industry, bringing together professionals from around the world to explore innovative strategies, forge meaningful connections, and learn about industry developments. It typically features keynote presentations, breakout sessions, panel discussions, workshops, and networking opportunities designed to facilitate knowledge sharing, skill development, and professional relationships among attendees.

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