BTI Research: You're About to be Fired
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More than half of all corporate clients have fired one of their key law firms, according to research by The BTI Consulting Group in Boston.
61.1% of clients have replaced at least one primary law firm according to the research report, "Key Trends in Client Relationships and Satisfaction with Law FIrms: Market Opportunities for 2007." If you have corporate clients, it's time to start visiting their offices, holding regular business update meetings and sending client satisfaction surveys.
On the other hand, this is great news for law firms trying to crack a major corporate account. The odds are now in your favor that the target corporation will have an opening for a new law firm. Happily, corporations are shifting more dollars to hiring secondary law firms, as the in-house counsel try new law firms, according to the BTI study. In fact, 51.3% of their spending will be on secondary law firms.
The time to act is now.
