New Business
Management
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Consultancy Services For Law Firms
Managing new business enquiries is one of the core elements a firm must control to deliver success. A firm which is unable to capture, track and trace its new business enquiries is weakened from a management and business development perspective.
Many law firms often overlook new business management. To ensure the firm captures, processes, manages, and converts as many new enquiries as possible, it must build a simple but robust front-end process.
At The Regulation and Compliance Office, we have helped multiple firms of all sizes to implement solutions that work for them and to ensure that each firm can maximise new matter openings.
Our service includes understanding, designing, and implementing a solution that works for the firm. We do not seek to implement complex systems and technology but simplified solutions with quality processes and training that work and are proportionate to the type of law firm we are working with.
The average firm we have worked with that focuses on new business capture and management has seen a 20% increase in new matter openings without any additional marketing spend.
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Our New Business Management Consultancy Service
The capturing, processing, and converting of new business is often more complex than it first seems.
Many law firms are SMEs, so they often lack the resources, systems, and processes to deliver an effective solution that ensures every enquiry into the firm is fully processed. RACO understands these challenges, and we are here to help.
For larger law firms with those resources, the solution may be to develop a robust process that focuses resources and processes to manage enquiries effectively.
Our New Business Management service provides the firm with a robust solution managed and processed by its staff.
RACO works with the firm to understand its services, clients, new business generation, capture, and processing methods.
The service involves:
- Identifying how the firm receives enquiries by considering its Marketing and advertising strategy
- Understanding existing clients
- Establishing the repeat and recommended business ratios
- Understanding how much of the new business goes directly to fee earners
- Attending the firm to discuss the current process with the relevant people and understand where the systems and processes may be falling short.
- Establish any budgetary or technology constraints.
- Making a series of recommendations and changes to processes, including the implementation of any system changes that are sensitive to budgetary constraints.
- Training the staff who are involved in the process, from those that first engage with the clients, through to fee earners where needed.
- All training is based on a ‘train the trainer’ basis so that the person in charge will be able to provide ongoing training and coaching.
- Putting in place effective monitoring to maintain the effectiveness of the process.
- Agreeing on appropriate management information.
- Ongoing monitoring, mentoring and management if required.
Contact Our Team
To ask any questions about the Regulation and Compliance Office and how we can support your Law Firm, please call us on 0203 985 8550, complete the online enquiry form below, or email us info@regulationandcomplianceoffice.co.uk