Client
The Justin Law Firm, a relatively small boutique law firm specializing in estate planning, based in Roseville, CA, with annual sales of around $600k/year. The service was considered top notch in the area; voted a top law firm by a local magazine.
Objective
The firm was personally generating 15 new client appointments every month, primarily from referrals from current clients.
On average they were closing 4.8 of these 15 appointments; about 32%. While a 32% closing rate is not bad, the client felt that he should be closing nearly every one of these appointments since they were from referrals.
After meeting with the client, analyzing their situation and presenting the Conversation Flow Sales Formula as a solution, they decided to go with us, even though it was a bit of a stretch financially.
- The objective was to increase the closing rate of the new client appointments from 29% to 50%.
- We decided that the Key Performance Indicator (KPI) of success would be Face-to-Face (FTF) meetings.
The Solution
Summary of the Conversation Flow Sales Formula:
The idea is to take the pressure off sales persons to “sell” the prospect, and instead have them focus on having more “conversations” with the prospect (face-to-face meetings, phone calls, emails, etc.), and demonstrate more care and understanding, which develops a stronger emotional connection. This builds trust; and that produces more sales in the long run.
The Formula was great for the company because they weren’t starting from scratch; they were getting prospects and some sales, but needed to do better., and the Formula enabled them to build on their existing success quickly.
The Process
- We started by doing a thorough analysis of the current intake process, and making “tweaks” to the client attorney interaction “conversation.”
- Once we had a thorough understanding of the intake process and conversation, we modified the structure of the conversation with a single roleplay and training session with the attorney.
- We also did three months of in-person training.
Outcomes
- Immediately after the first training session, the client closed the next prospect.
- Within 30 days, he was closing 13 of 15 new client appointments (87% closing rate). That was an increase of 2 ½ times from the previous closing rate of 32%The client was astounded.
- What was even more impressive is this extremely high closing rate continued for the next several years before moving out of state.
- Revenues increased approximately 40%.
- The firm’s sales increased over 280%.
- We checked with him four months later, and his closing percentage continued at 87%.
