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PM Forum - Bristol
Is differentiation in the eye of the beholder?
Professional services marketers were recently offered a valuable opportunity to hear a senior in-house lawyer at a FTSE 30 company talk first-hand about how law firms differentiate themselves to clients.
John Downing, Senior Corporate Counsel at Imperial Tobacco, presented his views on how firms can stand out from the competition. Despite Imperial Tobacco's size and scale of operation, its in-house legal team in Bristol consists of only nine lawyers and therefore relies heavily on external providers. The event was chaired by TLT LLP Managing Partner David Pester, who contributed to the debate using his considerable experience of managing client relations with major national and international businesses.
John identified the following themes of a successful client relationship:
- Consistency in brand and value;
- Confidence in the expertise of the firm and using this to an advantage;
- Managing relationships at all levels;
- Working as a team – throughout the organisation;
- Do not let the client feel unloved; and
- Keep an eye on your competitors.
John added that brand perception plays a role in his selection of service providers, stating that he is unlikely to get challenged by his peers about the appointment of some brands, for example those of magic circle law firms, provided always that the value is still tangible.
John also commented that firms should be continually marketing themselves, and wooing clients regardless of economic conditions. He added that support staff are important, as lawyers don't suddenly gain marketing skills in a downturn!
David highlighted the need for law firms to differentiate themselves based on what their clients want by citing a recent survey, which found that 63% of general counsels (GCs) said they were considering firing one of their current providers. Cost was a significant factor, but responsiveness and service delivery far outweighed other factors. The survey results also confirmed that law firms are often not good enough at spotting when a relationship (and often one that is historically sound) may be at risk.
John identified some aspects of client relationship management that he considered essential and therefore non-differentiating. He emphasised the importance of tracking and engaging with key individuals who join or leave the client’s organisation, as often the individual will stick with their existing provider when the relationship is strong.
To get John’s attention from a standing start, a service provider must have a very strong USP and choose an appropriate time to highlight that USP, for example when General Counsel is changing, an office move or underperformance of existing providers.
Judith Jansen
TLT
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