Resources your firm can use to showcase client satisfaction
“Keep your clients happy” is a well-understood principle for managing (and growing) a successful law practice… right?
Findings from Inavero’s 2018 Legal Industry Benchmark Study suggest law firms are missing the mark.
Inavero surveyed 545 modern corporate legal clients and buyers and found that legal client satisfaction in the United States is trending down. Furthermore, buyers care more than ever about the satisfaction of a law firm’s clients ― even more than they care about the cost to work with that firm.
Here are a few more statistics from the study:
- Less than half of corporate legal clients say they would be willing to refer their law firm to a friend or colleague ― a concerning dynamic considering referrals continue to be the preferred resource for modern legal buyers.
- Fewer than one in three legal clients report they’re committed, exclusively, to their primary law firm. That means two in three of a law firm’s clients are open to exploring other firms to work with (or, worse, are actively on the hunt for a new provider).
- Click here to download the 2018 Legal Client Satisfaction Report.
The good news is that lackluster client perception across the industry opens a door for your firm to differentiate on the quality of service you provide.
But differentiating credibly requires you to (a) take steps to measure and grow client satisfaction and (b) actually prove that your clients enjoy working with you.
That’s a tall order — and there’s no single solution to this multifaceted issue. But there are resources that your firm can employ to showcase client satisfaction.
Net Promoter® Score for Law Firms
One way to track and share client satisfaction is by employing a Net Promoter® Score (“NPS”) in client research. The NPS is a standard metric that asks your client, “How likely are you to recommend [your firm] to a friend or colleague?”
Utilizing a numeric scale of 0-10, with 10 being extremely likely and zero being not likely at all, your firm’s NPS is calculated by subtracting the percentage of detractors (those who respond with a six or lower) from the percentage of promoters (those who respond with a nine or 10). Click here for a more detailed look at the NPS methodology.
The Net Promoter® survey methodology measures loyalty behavior as a proxy for satisfaction that allows you to:
- Hear what your clients think
- Identify service wins and issues
- Benchmark service quality
- Identify referral prospects
Since it was introduced in 2003, NPS has gained momentous traction across industries as a leading method for benchmarking service quality, improving retention and proving client satisfaction. The service quality benchmark for law firms in 2018 is an average Net Promoter® score is just 19 ― down from a high mark of 32 in 2015 ― and far below the globally recognized standard for “good” service, which sits at 50 NPS.
- It’s simple. Because NPS is a single metric, it’s easy to measure, track over time and use to benchmark your firm’s client satisfaction and service quality against the rest of the industry.
- It’s is a data-driven approach relying on insights directly from the client. The concise format of the survey allows you to focus on the information that really matters while taking the guesswork out of assessing how your clients feel about you.
- It’s short. People tend to turn and run when they see long surveys. As much as your clients are ready and willing to provide with you feedback, they are protective of their time.
- It promotes transparency. By quantifying intangible concepts like client satisfaction and service quality, NPS provides law firms and legal practice administrators a singular metric to weigh performance, set improvement goals and to rally the team around. When everyone in the organization has a clear understanding of how their behavior can inform NPS, they’ll begin to obsess over client satisfaction and service quality.
Next Steps With NPS
- Want more research on client satisfaction in the legal industry? Download our 2018 Legal Client Satisfaction Report for benchmarks and key drivers of client satisfaction.
- Interested in leveraging service quality for growth at your firm? Join us for a live webinar on May 8 covering best practices for building a service worth talking about and amplifying its impact on firm growth.
- Ready to get started with NPS? Download Inavero’s Satisfaction Survey Checklist for Law Firms, or reach out to Inavero to have a conversation with one of our experts about implementing NPS at your firm.
Kat Kocurek is the vice president of marketing at Inavero, a leading provider of Net Promoter® surveys and service quality research for professional service firms. From conducting industry research to guiding business development and lead generation, Kat's work helps to clarify the Inavero value proposition for law firms: Measure client satisfaction, build online reputation and differentiate on service quality.