Were you as shocked as we were to hear of TomKat’s divorce? I mean, for a start they look great together and they’re great style icons, let alone the fact that this really is the divorce bombshell of the year! Shall we continue? No.
Naturally for us, the real issue is not of Cruise’s, (albeit sad) departure from Katie, but the fact that he’s reusing Family Lawyer, Dennis Wasser to divorce Holmes; the very same lawyer he used to divorce Nicole Kidman back in 2001.
Interestingly, it was only last week that the topic of realising the lifetime value and full potential of an existing client was raised at the Manchester Law Society Conference. Jonathan Gulliford, one of the three founding members and responsible for the Cooperative's drive to become an SRA regulated ABS, talked through what he believes will be the Coop’s strategy for the future. During his 5 years at the Cooperative (2006-2011), he witnessed the company’s vast growth into the legal sector, which today is said to be worth £25 million with in excess of 400 staff. It is for this reason that Cooperative Legal Services is widely considered to be one of the biggest ABS threats on the horizon.
Jonathan, after his own presentation at the Conference concerning outsourcing in the legal sector, shed light on the Coop’s business strategy of which there was one key factor; realising the lifetime value of a client.
The relationship you build and maintain with your existing clients is of paramount importance; law firms are so easily distracted on their search for new business that they pay too little TLC to nurturing their existing relationships with clients. Being the firm in the forefront of your clients’ minds; be it during their prenup, house move or divorce is one of the keys to a successful business. Sending e-newsletters to remind people that you’re there, or arranging the occasional golf day for your clients (in David’s style), could see your business increase as clients return time and again.
Not convinced? Think about how much Dennis Wasser has made in the past, stands to earn now, and may make in the future and maybe you’ll reconsider!