Company announcements, appointments and general news about Beaton Research & Consulting
The three things that create value for clients jumped out at me during the excellent 2015 APSMA conference 'Reframe the future' in Sydney on the different market forces, challenges and opportunities facing professional services. (more…)
I still recall the (somewhat tongue in cheek) advice I had from the senior partner of the firm I was with in the early 80s...
“When you send out a big bill, I mean an eye-watering bill, send it out on a Friday and don't come to work on Monday – let someone else take the call from the client".
Cynical? Yes, but symptomatic of most lawyers approach at the time. (more…)
It’s not conventional to talk of the professions ecosystem, but the idea certainly helps understand what’s occurring in so many aspects of professional life.
This post makes a small contribution to exploring the disruptive stresses and digital hope that are starting to characterise the professions ecosystem of the 21st century. (more…)
A recent post by Micah Solomon in Forbes on 10 trends in client service expectations (my paraphrasing of his title) caught my eye. When I taught industrial, aka B2B, marketing at Melbourne Business School the doctrine was consumer buying behaviour and B2B buyer behaviour are quite distinct in most respects.
Research shows clients are the canary in the coal mine for professional services firms.
Analysis by Beaton Research + Consulting over last 10 years has identified seven larger professional services firms in Australia where their clients sensed the firm was in trouble well before the firm seemed to do so.
In these cases, independent measures of client satisfaction started to fall steadily years before any effective action was taken to arrest the declining fortunes of the firm. In six it was a case of too little, too late, and the firms as we knew them are no longer with us. In the seventh, a largely new Board and outside CEO turned the tide.
“If not, be prepared for the possibility that Chicken Little was right” is Pam Woldow’s punch line in her post dated April 3, 2014 (1).
You’re spot-on Pam, I thought as I read her reflections on five observations about the trending strategies and cultures of firms with a BigLaw business model. The trends to which Pam refers are mainly internal, but there’s an external environment aspect to this story too.
This post adds a sixth, massively important external trend not previously reported in the public arena. The trend is based on hard evidence sourced from the most important stakeholder in BigLaw firms – their clients. The probability that Chicken Little is right just got a whole lot larger. (more…)
Very few practitioners have discovered cost consciousness. Yet, of all the client service attributes measured in Beaton’s research studies over the last decade amongst thousands of clients of professional services firms of all types, cost consciousness stands out head and shoulders in its importance – and neglect by practitioners.
Cost consciousness is a ‘missing link’. (more…)
This miscellany of posts is a reflection of the rigour and research that underpins the work with law firms of Beaton people and our international collaborators.
Based on our research, consulting and advisory work with law firms in many countries, our proprietary research with Beaton Benchmarks and our critical review of the published work of others, these posts illustrate the depth and breadth of the skills we offer our clients in Australia, USA, UK, New Zealand and Hong Kong.
The range of issues canvassed illustrates the rich and challenging environment of legal services. We invite our readers to correspond with the authors. Perhaps some readers would like to offer rejoinders and commentary of your own? (more…)