What is a simple trending growth strategy occurring with law firms right now? Aligning plans and goals with client growth and personal development.

stage contributed industry insights to Nexl's recent 2023 Growth Strategies Report discusses how this trend holds the potential to reshape the legal industry and propel its ongoing advancement. stage contributed to the survey with our industry insights, including:

Double down on client growth grounded in #empathy.

As lawyers, law firms, and legal marketing professionals, we see a shift moving toward a new way of doing business. For law firms to gain additional market share and compete amid mergers, distressed markets, and inflation, law firms need to go back to the basics—people, relationships, and authenticity. People are looking for a deeper connection to their business and an empathy-forward approach. Building strong relationships builds trust, which in turn leads to loyalty, and increases the likelihood that the client will continue to engage with the firm – versus jumping ship to a competitor.

Triple down on #collaboration.

Activate collaboration to achieve commercial outcomes, bringing together a diversity of perspectives and expertise, driving strategy and execution to attain better results – whether cultural or economic. When business relationships are strong and personal, it is easier for businesses to initiate changes and adapt to the market. When you have a personal relationship that is rooted in trust, the #lawyer understands the client’s needs and objectives and can deliver against the right baseline. Simply put, collaboration cuts down on the knowing/doing gap, resulting in transparency and shared purpose.

To access the full report click on the link below.
Link: https://lnkd.in/dqvDATV3