Perspective from Law: Protecting Your Crown Jewels: 3 Action Plans Toward Partnership (Part Three)

Editor's Note: This is the final part of a three-part series. In part one, McKenna evaluated their firm's quality of client service and put your firm to the test, as well. In part two, he described the first two of five steps toward improving your firm's client service; first, gathering intelligence and second, interviewing your clients. Now, he concludes by offering the final steps needed to become a strategic partner with your clients.

Step Three: Value Added Action Plans

The creation of increased value for the client must lie at the heart of any effective client strategy. Yet we encounter client teams who talk about creating value, but what they are really doing is trying to make the client more valuable to the firm by cross-selling them more services and increasing their wallet share.

While there is nothing inherently wrong with creating more valuable clients, it can only be accomplished once your team has established a solid relationship with the client. And you can only establish a solid relationship after you have delivered more value than that client has been accustomed to receiving from any of your competitors.