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When meeting with companies around the world, it is clear that all law firms want to make a lasting impression at promotional meetings and when presenting proposals for legal services. To keep winning, I wanted to share key tips we’ve learned from law firm clients about effective proposals and how this creates a valuable advantage in winning new business. These tips include:
- Accurately targeting the specific needs of potential clients.
- Create highly detailed and most compelling proposals.
- Leverage technology for greater accuracy and speed.
- Standardize your promotional packages for consistency and effective standardization.
Differentiating between your firm’s offerings and proposals is more important than ever as demand for legal services decreases and competition rises. Three out of four respondents to the latest BigHand research report Through a survey of more than 800 law firms across North America and the UK, they are currently facing a decline in demand for legal services, and demand is expected to drop further in the coming year.
Here’s how implementing these four tips will elevate your law firm’s operations to create first-class proposals and offers that will attract more clients now and in the future.
1. Focusing on clients’ specific needs in legal services proposals
In a market where 28% of small and mid-sized law firms are focused on building better relationships and experiences with potential clients, it is imperative that you truly understand the unique challenges a potential client faces and place their needs at the heart of your offering and offering strategy. .
Analyzing your company’s timekeeping and billing data helps you identify the most profitable projects and required legal services. Legal data analytics can also show:
- the types of services your existing customers require,
- How much are clients willing to pay for legal services,
- How long does it take your company to complete tasks,
- resources required to complete each service, and more.
Not only will you get strategic intelligence, but you can also provide fact-based detail to meet the specific needs of each prospect. Take the guesswork out of answering questions authentically and customize your presentation documents to show proven ways your company delivers valuable solutions.
2. Create highly detailed and compelling offers and proposals
BigHand researchers found that 61% of small and medium-sized businesses invest in producing more detailed proposal documents and proposals to sustain growth and win new business. As most companies improve their performance, potential customers’ expectations rise when it’s your turn.
In addition, legal clients are more business-savvy than ever before. In fact, 90% of small and medium-sized businesses say their customers expect ever higher standards, which increases the pressure to deliver high-quality proposals to meet their expectations. Make sure your presentation materials accurately explain your company’s capabilities, experience, and approach to legal issues. Include updated details of the following:
- Area of practice, attorney and consistent honors
- Results of the matter and results of legal representation
- Individual qualifications and experience in jurisdictions and industry sectors
- Client testimonials and case studies
Better yet, include this information quickly and efficiently by using technology to streamline the process.
3. Take advantage of technology to streamline your law firm’s bidding and proposal processes.
With nearly seven out of ten small and midsize law firms integrating technology into their proposal submission processes to increase efficiency, there is no better time to follow suit and automate the production of proposal and proposal documents.
Integrated technology tools and access to company data simplify the process of creating presentations and proposals directly in Microsoft Word and PowerPoint. The tools automatically insert the latest details into your documents, helping you to respond quickly to a prospect’s requests for information. At the same time, you can rest assured that your company is presenting the most relevant expertise and evidence in a professional and persuasive manner.
4. Standardize promotions and proposal forms for your law firm
Each proposal should reflect your company’s unique brand and strengths. Your company can save hours with standardized presentations and proposal templates. Consider developing templates for each practice area that include the latest details on the department’s attorney, relevant matter findings, honors, etc. Then, encourage people to further customize their presentations and proposals to target each potential customer’s needs.
Ensure that everyone starts the presentation and proposal process with a unified template for your company to consistently produce high-quality, professional proposals with the most engaging detail.
Demand is expected to continue to decline, and standing out through your offerings and proposals is one way to adapt to these new market dynamics. A more polished and professional approach is needed to make an impact with potential clients.
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