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 not only changed 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 see meeting changing client needs as one of the key trends that will impact lawyers over the next three years.

It is obvious that law firms cannot 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 take a look at what customer orientation actually means and the benefits it offers you and your customers.

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What do customer-oriented services look like?

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A client-focused law or tax firm is one that puts clients first and provides exceptional service, client satisfaction and commitment.

The customer experience is a key success factor in attracting new customers and building a loyal customer base. Is your law firm and staff easily accessible? Do you have a process for responding to new inquiries so that none are lost between your reception teams and your lawyers? Do you have a transparent overview of your and your clients' tasks?

1. Client orientation: The client is at the center of the service. All activities and processes in the firm are geared towards meeting and exceeding the client's needs, expectations and goals.
2. Exceptional Service: Law firms offer exceptional service and customer experience. This means that clients are not only satisfied, but delighted with the quality and efficiency of the service.
3. Long-term client relationships: Client-centric law firms strive to build long-term client relationships. They take care of the long-term satisfaction and loyalty of their clients.
4. Right resources: The firm provides the right resources, whether in the form of skilled personnel or modern technology, to ensure best value, cost efficiency, results and client experience.
5. Investing in technology and training: Client-centric law firms invest in technology and training to meet the ever-changing needs and expectations of their clients.
6. Focus on client needs: Instead of selling standard services, client-centric law firms concentrate on delivering exactly what the client needs.
7. Effective data strategy: Law 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 customer access is promoted. Customer feedback is actively collected and used to continuously improve services.
9. Effective client service tools: Client-centric law firms provide clients with effective self-help tools to obtain information and resolve questions. This can be done through knowledge bases, chatbots and other technologies.
10. Employee qualifications: Employees are continuously trained and qualified to anticipate and meet the changing needs of customers.

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Client-centric legal services require innovative communication to meet changing client needs. This requires law firms to think about technology with clients in mind.

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 continue to rise.

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5 reasons why customer-oriented processes pay off

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1. customer satisfaction as the key to success

Client focus starts with client satisfaction. If your clients are satisfied with the legal services you provide and your customer service, they are more likely to recommend your firm to others and remain loyal to you. A high level of client satisfaction can help to strengthen your reputation and build long-term client relationships.

2. repeat business and recommendations

Satisfied clients are not only returning clients, but also your best ambassadors. If your clients are convinced of your services, they will recommend your law firm to their network. This can lead to an organic source of growth for your law firm and reduce the need for expensive marketing campaigns.

3. competitive advantage through differentiation

In a highly competitive industry such as legal advice, an excellent client focus can set your law firm apart from the competition. Potential clients are more likely to come to you if they know that they will not only receive professional legal advice, but will also enjoy excellent service and personal attention.

4. customer orientation strengthens reputation

The reputation of a law firm is of crucial importance. Clients who feel well looked after by your law firm will not only remain loyal, but will also leave positive reviews and ratings on online review portals. This strengthens your reputation and creates trust among potential clients.

5. innovation and continuous improvement

A client-oriented law firm listens to the needs and feedback of its clients. This can provide valuable insights to continuously improve and optimize your services and processes. This innovative spirit can make your law firm competitive and future-proof.

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The perfect balance: With BetterCo, maximum customer orientation and 100% compliance at the same time

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With BetterCo, you not only become 100% compliant with little effort, but also map the entire customer lifecycle digitally and customer-centrically:

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Digital customer due diligence

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Depending on whether you want to collect data from clients, investors, traders, legal entities or natural persons, a corresponding KYC process is available to you. Make the onboarding questionnaire available to your potential clients / customers either via self-onboarding within your website or upload it conveniently to your personal BetterCo workspace. This allows you to work and communicate together on a task-oriented basis in a simple and uncomplicated way.

Thanks to our integration of public data sources, around 80% of the data is validated and pre-filled in advance as if by magic. The KYC process is thus accelerated many times over and you can concentrate on personal support and leave the tedious administration to BetterCo.

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Identity verification, signatures & consents

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Conveniently respond to the respective needs and possibilities of your clients and choose between 4 methods for identity verification:

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

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With BetterCo you accelerate your legally binding processes of (contract) signatures and increase the efficiency of your document management system to the maximum! Choose from our ready-made signature processes:

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

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We live in a time in which we constantly have to obtain consent from our clients / customers. Even the smallest consent usually causes administrative overload and pure paper chaos. With BetterCo, this is finally simple, uncomplicated and digital! Whether you need consent to the processing of master data, consent to the data protection declaration or consent to representation vis-à-vis BaFin or the commercial register - thanks to your BetterCo Workspace and the ready-made processes, you can do it quickly and easily. Your client/customer is informed in real time by email and the approved consent is sent directly to the right place in your system.

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Risk analysis

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Even if your client gets nothing from this - a necessary evil for you to act in compliance with AMLA. Use the ready-made risk analysis to classify the risk of clients, customers, traders, investors or buyers along various risk categories and check your customers against AML data sources at any time. We automatically derive the due diligence obligations and necessary review cycles for you. Automatically generated risk reports enable you to fulfill your verification and documentation obligations with minimal effort.

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Digital collaboration & housekeeping

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At the heart of your BetterCo workspace are your clients/customers and their joint processes, organized in the digital file. Always have an overview of all tasks, data, documents, contacts and events for each of your clients/customers. You can communicate process-oriented in real time via chat. Never search for current document versions or old emails again.

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The advantages for your clients

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• Time saving
• Seamless and intuitive onboarding experience
• No physical presence necessary
• Data and information exchange digitally and in real time
• 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 consulting and legal work due to fewer administrative tasks

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Conclusion

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

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