Customer focus as a competitive advantage – 5 reasons why it pays off

The world of legal advice and compliance has changed dramatically in recent years. Digitalization has transformed not only the way lawyers work, but also the expectations and requirements of their clients.

Wolters Kluwer's "Future Ready Lawyer 2022" report shows that 79% of respondents consider meeting changing client demands one of the most important trends that will affect lawyers over the next three years.

Clearly, firms can't simply rely on "satisfied" clients. They must constantly look for ways to exceed expectations, increase their value and respond flexibly to emerging client needs.

In this article, we look at what customer focus actually means and what benefits it brings to you and your clients.

‍

What do client-focused services look like?

‍

A client-focused law or tax firm is one that puts clients at the center and delivers exceptional service, client satisfaction and engagement.

Customer experience is a decisive success factor in winning new clients and building a loyal client base. Are your firm and your staff easy to reach? Do you have a process for answering new inquiries so that none get lost between your reception teams and your lawyers? Do you have a transparent overview of your tasks and your clients' tasks?

1. Customer focus: The client is at the center of the service. All activities and processes in the firm are geared toward meeting and exceeding the client's needs, expectations and goals.
2. Exceptional service: Firms deliver exceptional service and customer experience. This means clients are not just satisfied but delighted with the quality and efficiency of the service.
3. Long-term client relationships: Client-centric firms strive to build long-term client relationships. They care about their clients' long-term satisfaction and loyalty.
4. The right resources: The firm provides the right resources, whether qualified staff or modern technology, to ensure the best value, cost efficiency, results and customer experience.
5. Investment in technology and training: Client-centric firms invest in technology and training to meet their clients' constantly changing needs and expectations.
6. Focus on client needs: Instead of selling standard services, client-centric firms focus on delivering exactly what the client needs.
7. Effective data strategy: Firms use data to proactively offer client-centric services. They analyze client behavior and preferences to develop tailored solutions.
8. Transparency and feedback: A culture of transparency and client access is encouraged. Client feedback is actively collected and used to continuously improve services.
9. Effective customer service tools: Client-centric firms give clients effective self-service tools to get information and resolve questions. This can be done through knowledge bases, chatbots and other technologies.
10. Staff qualifications: Staff are continuously trained and upskilled to anticipate and meet clients' changing needs.

‍

Client-focused legal services require innovative communication to keep up with changing client needs. This requires firms to think about technology from the client's perspective.

According to Wolters Kluwer's "Future Ready Lawyer 2022" report, demand for technology-enabled law firms reached a record high in 2022 and is expected to keep rising.

‍

‍

5 reasons why client-focused processes pay off

‍

1. Client satisfaction as the key to success

Customer focus starts with client satisfaction. When your clients are satisfied with the legal services you provide and your customer service, they are more likely to recommend your firm and stay loyal to you. High client satisfaction can help strengthen your reputation and build long-term client relationships.

2. Repeat business and referrals

Satisfied clients are not only repeat clients but also your best ambassadors. When your clients are convinced by your services, they will recommend your firm within their network. This can become an organic source of growth for your firm and reduce the need for expensive marketing campaigns.

3. Competitive advantage through differentiation

In a highly competitive industry like legal advice, outstanding customer focus can set your firm apart from competitors. Prospective clients are more likely to come to you if they know they'll receive not only professional legal advice but also excellent service and personal attention.

4. Customer focus strengthens your reputation

A law firm's reputation is crucial. Clients who feel well looked after by your firm will not only stay loyal but also leave positive ratings and reviews on online review platforms. This strengthens your reputation and builds trust with prospective clients.

5. Innovation and continuous improvement

A client-focused firm listens to its clients' needs and feedback. This can provide valuable insights for continuously improving and optimizing your services and processes. This spirit of innovation can keep your firm competitive and future-proof.

‍

‍

The perfect balance: maximum client focus and 100% compliance with BetterCo

‍

With BetterCo, you not only become 100% compliant with little effort – you also map the entire customer lifecycle digitally and with the client at the center:

‍

‍

Digital customer due diligence

‍

Whether you want to collect data from clients, investors, merchants, legal entities or natural persons, a matching KYC process is available to you. Provide the onboarding questionnaire to your prospective clients / customers either via self-onboarding on your website, or conveniently invite them to your personal BetterCo workspace. This makes it easy to work and communicate together in a task-oriented way.

Thanks to our integration of public data sources, around 80% of the data is pre-validated and pre-filled as if by magic. This speeds up the KYC process many times over, so you can focus on personal client service and leave the tedious administration to BetterCo.

‍

‍

Identity verification, signatures & consents

‍

Easily accommodate your clients' individual needs and options, and choose from 4 identity verification methods:

• Face-to-face
• Notarized copy
• AutoIdent procedure
• VideoIdent procedure

‍

With BetterCo, you speed up your legally binding (contract) signing processes and maximize the efficiency of your document management system! Simply choose from our ready-made signature processes:

• Wet-ink signature
• eSigning via scan
• SES
• AES
• QES

‍

We live in a time when we constantly need to obtain consents from our clients / customers. Even the smallest consent usually causes administrative overload and sheer paper chaos. With BetterCo, this is finally simple, straightforward and digital! Whether you need consent to process master data, agreement to the privacy policy or a power of representation vis-à-vis BaFin or the commercial register – thanks to your BetterCo workspace and the ready-made processes, it's done quickly and easily. Your client / customer is notified by email in real time, and the granted consent lands directly in the right place in your system.

‍

‍

Risk assessment

‍

Even if your client never sees any of this, it's a necessary evil for you to act in compliance with the GwG. Use the ready-made risk assessment to classify the risk of clients, customers, merchants, investors or buyers across various risk categories, and screen your customers against AML data sources at any time. We automatically derive the due diligence obligations and necessary review cycles for you. With automatically generated risk reports, you meet your verification and documentation obligations with minimal effort.

‍

‍

Digital collaboration & housekeeping

‍

At the heart of your BetterCo workspace are your clients / customers and your shared processes, organized in the digital matter file. Always keep track of all tasks, data, documents, contacts & events for each of your clients / customers. Use chat to communicate in real time, in the context of each process. Never search for current document versions or old emails again.

‍

‍

The benefits for your clients

‍

• Time savings
• Seamless, intuitive onboarding experience
• No need to be physically present
• Digital, real-time exchange of data and information
• Less administration for your client
• Less email ping-pong
• All data in one system, clear and transparent for both sides
• You have more time for actual advisory and legal work thanks to fewer administrative tasks

‍

‍

Conclusion

‍

Investing in customer focus means investing in the future of your firm. By creating a client-focused culture based on client satisfaction, referrals and continuous improvement, you can gain a decisive competitive advantage. The effort and resources you put into nurturing client relationships will pay off in the long run and make your firm more successful and sustainable.

‍