"Law firms need to adapt to the new marketplace or lose our business. It's that simple," said a general counsel who participated in The Association of Corporate Counsel/American Lawyer Alternative Billing 2010 Survey. The ACC and AmLaw received input from 453 corporate chief legal officers and general counsel; 128 of them worked for companies with annual revenues of $1 billion or more.
"Strong relationships and open discussion with outside general counsel is the best way to regulate rates," another survey respondent said. While alternative billing has been a major consideration over the past year, it is one of many aspects of service delivery that should prompt law firms to find out exactly what clients want to ensure keeping their business.
Do you plan to invest in a client feedback program so that you will know (and be able to improve upon) what your clients think of your firm's performance?
Strategic Client Interviews will tell you what you need to know.