Step-by-Step System to Maximize Client Retention and Profit

Hey, welcome to the Your Practice Master podcast. My name is Richard James And this week we're gonna be unpacking something called BAM Fam. That's right. Bam Fam. Tune in so you can hear exactly what that means.

Wouldn't it be nice if your law firm could convince your clients to behave in the manner in which you need them to behave so that you can process their case as fast as possible, right?

Whether it's make their payments, show up to court, bring their documents, sign petitions,

Wouldn't it be nice if they did it in a way that matched the timeliness of your firm so that you can maximize their efficiencies?

Well, I'm going to bring to you this philosophy that comes from the sales world that I've been using for over 30 years as an entrepreneur.

It's called Bamfam. Bamfam stands for, book a meeting from a meeting.

Whenever you are in front of your prospect or a subsequent client, you want to make sure that you are booking the next meeting because, one, it provides you with control over the process.

Two, it allows you to create a reminder sequence that texts emails the client, maybe even makes a phone call to remind it.

In the sales world book a meeting from a meeting is really the normal sales process, especially when you're dealing with a multiple step close.

Now in law, most of you are going to run a one step closed process.

During that initial consultation, we should close the deal.

If you were to not close the deal, we would book a meeting from that meeting for the follow up of that meeting.

But where law firms need to use this is to book the next meeting in the workflow process.

So if we come back to my drawing board here, once you have the initial consultation, we'll call that ic.

Then we should go to what's called an onboarding call. Onboarding calls should contain legal, and it should contain client success. We call that CST.

Those two team members should be on that call.

And then from the onboarding call, this is where practice area is gonna make a difference, but for most of you, you're gonna have some sort of documents.

We call this a document upload appointment where somebody on your team is actually gonna schedule an appointment to make sure all the documents you were supposed to harvest have actually been harvested.

And then from there you have a petition.

Prep appointment now, this is actually gonna be with somebody on your team, likely. We're gonna book that meeting.

At the same time, we're also gonna book what we call assigning appointment.

Now again, practice area specific might indicate different types of appointments. If you're in litigation, you'll have other processes besides these. If you're in a flat fee processing, type of firm, it'll look a lot more like that.

But we're booking an appointment from an appointment. Why?

Because between the initial consultation appointment and the onboarding appointment, we can add a reminder.

Follow up sequence.

And then between the onboarding and the document upload, we can add the reminder follow-up sequence, and then between the document upload and the signing appointment, we can add the reminder follow-up sequence.

And then if we have court appearances or any other type of processes that have to happen, we can add.

Reminder follow-up sequences.

These reminder follow-up sequences. Allow us to do a couple of things first in your CRM, you're gonna be setting up a tag.

That tag is going to allow us to run reports. And reminders.

So the reports tell us what is the difference in conversion between people who show up to their onboarding from initial consultation, how many people from onboarding show up to their document upload appointment? How many show up to their signing appointment

how many are showing up to court, or so on and so forth.

And do you have a bottleneck in any one of these places?

If you'll notice these little hinges that I'm talking about right here, these are what we call the things that swing the big doors.

These are the efficiency points. These are what makes a law firm maximize profitability.

Certainly at a firm that's under the $5 million mark if you're doing less than $5 million focusing on efficiencies to maximize your profitability is likely one of the most important things you do.

If you've never done this and you're doing more than $5 million, then it will work for you too.

These percentage efficiencies between these points is so important.

The reports tell your firm,

Hey, where are these falling off?

And wherever they are, can we change the reminder followup sequence to affect that percentage?

Also, when we have reminders, it allows the client to know that we are taking control over the process,

on a scale from one to 10, one being not very good, 10 being very good, how good at your clients at managing their own life?

And so the question is, if the case process requires their input, then why in the world would we leave it up to them to remember?

Why wouldn't we proactively remind them?

Our initial consultations tell, what is the show rate?

Because if the show rate's off, we gotta ask ourself, well, why is it?

They're falling off because this didn't happen in the sales process. They were confused and they didn't know that they were supposed to do X, Y, and Z before they showed up.

Oh, maybe we're asking them for too much. Whatever.

There's always something we can do.

But just by taking control over this situation, you now go from having your client control it to you controlling it.

This Bamfam system that you run through the entire process from the moment the lead comes in until the case is closed, the moment you start running that process, that is a closed loop system that somebody else on your team besides you can actually run.

If you're a level one law firm owner, keeping it small, keeping it all. You're gonna want to set up this system 'cause it allows you to automate a lot of the communication and maximizing the number of people that show up without you having to personally be responsible for dragging people in.

And it makes you focus on just the legal work.

If you're in the manager level, the way you get out of hell is by replacing yourself. And one of the things you can do to replace yourself is putting the BAM Fam system in place, and it's gonna remove a lot of the little hassles that show up into your world.

If you're the owner of the law firm, that's a CEO level, you wanna be able to pour gasoline on top of the business in this form of marketing dollars or lead generation dollars.

That's called advertising. And so in order to do that, you have to have confidence that everything else is gonna work well and you have the capacity to manage it. And the way that you make maximize your capacities, being able to do more business with the same or less staff, is by making sure you're using this BAM FAM system as a STA staple foundation.

And if you're at the investor level. You want your CEO to do this is for the same reason. You're gonna have fundamentally a higher profit come out of the bottom of the funnel in the p and l because you're using less labor to accomplish your goals

so as a recap,

you're gonna want to book a meeting from a meeting all the way from the initial contact all the way till the client's case closes. And if you do that well and you manage and measure the little hinges in between. You're gonna find yourself converting more of your leads into clients that retain your firm.

You're gonna find yourself getting your clients to behave better and allow your firm to build more efficiencies. All right, let's get at it.

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