How Law Firms Can Get More Business From the Clients They Already Have

Law firms spend a lot of time trying to win new clients. They sponsor conferences, prepare pitches, organize events, develop content and encourage lawyers to get out and meet people. All of that is important, but how many firms spend the same amount of time thinking about the additional work they could be doing for clients they already represent?

Take a corporate partner who has worked with a company for years. The partner knows the general counsel, understands the business and has handled several significant transactions. But does that partner know which firm handles the company's employment matters? What about its litigation, regulatory work or intellectual property? Does the partner know whether the company is planning to expand, acquire another business or enter a new market?

These are questions worth asking because clients' legal needs change as their businesses grow. A company that initially hired a firm for an acquisition may eventually need advice on employment, commercial contracts, financing or regulatory issues. But unless someone is paying attention to what's happening at the company and making connections internally, those matters may go to other firms without the existing relationship team ever knowing they were available.

Cross-selling is a familiar term in law firm business development, and most firms would say they want their lawyers doing more of it. The challenge is getting lawyers from different practices to communicate, understanding where the firm already has relationships and giving partners enough information to have a useful conversation with their clients.

Marketing and business development teams can play an important role here, particularly when they have access to current information about what clients are doing and can connect that information with the firm's experience. But it takes more than circulating a spreadsheet of clients and asking lawyers to identify opportunities.

Start With What You Already Know About the Client

Before looking for additional work, take stock of the relationship the firm already has with the client. Which lawyers are involved? What matters has the firm handled? Who are the primary contacts? Which offices and practices have worked with the company, its subsidiaries or related businesses?

This information isn't always easy to pull together. A corporate team may represent the parent company while an employment partner advises a subsidiary. A litigation partner in another office may have handled a dispute several years ago. Depending on how the firm's systems are organized, the lawyers involved may not know about one another's work.

Marketing and business development professionals can help by reviewing matter histories, client records and relationship information to develop a more complete account profile. This doesn't need to become a lengthy research project. For a priority client, a concise document showing the firm's existing work, key contacts and relevant lawyers can be enough to start a useful discussion.

Once that information is organized, look at the practices that aren't currently involved. If the firm represents a manufacturing company on corporate matters but has no employment or regulatory work, that may warrant further research. The absence of work in a particular practice doesn't automatically mean there's an opportunity, but it gives the team something specific to investigate.

It's also important to understand who controls the relationship. Before approaching a client about additional services, the business development team needs to work with the lawyers who know the organization and understand its preferences, existing counsel relationships and internal decision-making process.

Pay Attention to What's Happening at the Company

A law firm's understanding of a client can become outdated quickly. Companies hire executives, acquire businesses, enter new markets, introduce products and make investments that affect their legal needs. The lawyer handling a particular matter may not be aware of developments taking place elsewhere in the organization.

For example, a firm may represent a consumer products company on acquisitions. The company subsequently announces plans to expand its distribution operations into several new states. That expansion could involve commercial agreements, employment requirements, real estate arrangements and regulatory issues. The corporate partner may not be handling any of those matters, but the announcement gives the relationship team a reason to learn more about the company's plans.

A business development professional can research the expansion, identify relevant experience within the firm and discuss the information with the relationship partner. The partner may already know that the client has another firm handling those matters. Alternatively, the development may create an opportunity to introduce a colleague or offer information that would be useful to the client.

A company announcement is a starting point for research, not proof that the client needs to hire another lawyer. Firms can establish a process for tracking developments involving their priority clients rather than relying on lawyers to notice relevant announcements.

Gatsby Aware helps firms monitor selected companies for relevant developments, while Gatsby Intel provides on-demand research into companies and professionals. Business development teams can use these tools to prepare client updates and investigate developments that may have implications for other practices.

Help Lawyers Understand What Their Colleagues Actually Do

Cross-selling becomes difficult when lawyers don't know enough about their colleagues' experience to recognize when an introduction makes sense. A corporate partner may know that the firm has an employment practice, but that doesn't necessarily mean the partner knows which employment lawyers regularly advise private equity-backed companies, which have experience with executive compensation or which work with businesses expanding into new jurisdictions.

Sending partners a list of practice descriptions is unlikely to solve that problem. Lawyers need examples they can connect to situations they're encountering with clients. One approach is to organize short discussions between complementary practices. A corporate and employment team could meet to discuss the employment issues that arise during acquisitions and post-closing integration. A private equity team could meet with regulatory lawyers to discuss industries where regulatory advice is frequently needed.

These meetings work best when they're focused on actual client situations rather than broad presentations about a practice's capabilities. Marketing and business development professionals can help identify participants, prepare examples of relevant matters and document situations where introductions would be useful. The team can also create short internal reference materials identifying lawyers with particular experience and the kinds of client issues they regularly handle.

Give Client Teams Something Useful to Discuss

Many law firms have client teams or account planning programs. Some are highly organized, while others consist of a group of lawyers who meet once a year, review a lengthy document and then return to their regular work. The effectiveness of a client team depends on whether it has a manageable set of priorities and a process for following up.

For a major corporate client, the team might include the relationship partner, lawyers from practices already serving the company and a business development professional. Additional lawyers can participate when their experience is relevant to the client's activities.

Rather than asking everyone to identify potential cross-selling opportunities in general, the team can review specific information. What has happened at the company since the last meeting? Have there been acquisitions, leadership changes or expansion announcements? What did the relationship partner learn during recent client conversations? Are there business units or executives the firm doesn't know well?

For example, if a client has recently acquired several businesses, the team might discuss whether the firm is involved in post-acquisition integration, employment matters or commercial agreements. If the client has appointed a new general counsel, the team might review existing relationships and determine whether an introductory meeting would be appropriate.

The business development professional can prepare a short briefing before each meeting and maintain a record of agreed-upon actions afterward. A client plan doesn't need to be complicated to be useful. It needs accurate information, clear responsibilities and regular attention.

Look at the Client's Subsidiaries and Portfolio Companies

Some opportunities within existing relationships involve businesses connected to the client but operating independently. A law firm may represent a parent company while having little involvement with its subsidiaries. A firm may advise a private equity sponsor on acquisitions and financing transactions but have limited relationships with the management teams of its portfolio companies.

For private equity clients, a useful starting point is mapping the sponsor's portfolio. The business development team can identify portfolio companies, their industries, locations, leadership teams and recent business developments. It can then compare that information with the firm's existing experience and relationships.

A private equity sponsor may own several industrial businesses. The firm may represent the sponsor on transactions, but the portfolio companies may also need advice involving employment, government contracts, commercial agreements, environmental matters or litigation. The next step is discussing the information with the sponsor relationship partners, who may know which companies already have established outside counsel relationships and where introductions would be appropriate.

A firm could also organize a discussion for portfolio company general counsel, invite executives to a small industry event or develop content addressing issues affecting businesses in the sponsor's portfolio. These activities give lawyers opportunities to meet additional contacts and learn more about the businesses their clients own or invest in.

Make Introductions Relevant to the Client

A relationship partner is more likely to introduce a colleague when there's a specific reason for the client to meet that person. Imagine a corporate partner receives an email from the business development team suggesting an introduction to the firm's employment lawyers. Without additional context, the partner may have little reason to act.

Now imagine the team has identified that the client is opening several facilities and hiring employees in states where it hasn't previously operated. The team has also identified an employment partner who regularly advises companies on multistate workforce issues.

The business development professional can share that information with the corporate partner, along with examples of the employment lawyer's relevant experience. The partner can determine whether the client is already addressing those issues and whether an introduction would be useful.

Introductions can take different forms. The relationship partner may send an email, invite a colleague to an existing client meeting or arrange an informal conversation around a particular issue. The appropriate approach depends on the relationship and the client's circumstances. Business development teams can make the process easier by preparing background information, coordinating schedules and helping lawyers follow up afterward.

Use Client Meetings to Learn What Isn't in the News

Company research can tell lawyers a great deal about a client's business, but some of the most useful information comes from conversations with the people running it. A client may be considering an acquisition that hasn't been announced, evaluating a new market or dealing with an operational issue that hasn't become public.

Before a client meeting, the business development team can prepare a briefing that includes recent company developments, leadership information, relevant industry issues and a summary of the firm's existing work. The briefing can also identify topics worth discussing based on what the firm knows about the client's business.

During the meeting, the lawyer can ask about the company's priorities, upcoming initiatives and challenges facing the legal department. These questions can lead to discussions about work outside the lawyer's own practice.

Afterward, the business development team can document the information and coordinate follow-up. If the client mentions plans to expand internationally, the team can research the markets involved and identify lawyers with relevant experience. The relationship partner can decide whether to share additional information or revisit the subject later.

Bring Clients Together Around Issues They Have in Common

Events and content can introduce clients to lawyers from additional practices, particularly when the subject matter is relevant to their businesses. A firm representing healthcare companies might organize a discussion about regulatory developments affecting acquisitions and operations. A firm with relationships across the consumer products industry could host a roundtable on advertising, distribution and employment issues.

A small roundtable with a focused group of executives may provide more opportunities for conversation than a large presentation. An invitation-only dinner can also work well when participants have similar responsibilities or operate in related industries.

Marketing and business development teams can identify the appropriate audience, develop topics, prepare participating lawyers and coordinate invitations. Research into clients' businesses can help determine which issues are most relevant and which individuals would benefit from attending.

Following up is equally important. If a client raises a question during an event, the relationship partner and relevant lawyers can continue the conversation afterward. The business development team can document those discussions and make sure appropriate follow-up takes place.

Keep Track of What Happens After an Opportunity Is Identified

Identifying a potential opportunity is useful, but firms also need to know whether anyone followed up. A client team may discuss introducing an employment partner to a corporate client, but the introduction can be forgotten when lawyers return to active matters.

Business development teams can maintain a record identifying the client, relevant development, lawyers involved, proposed action, person responsible and current status. The information can be reviewed during client team meetings or regular discussions with relationship partners.

It's also useful to track which clients are served by multiple practices, how those relationships have changed and whether introductions have resulted in new matters. Not every conversation will produce immediate work. Some introductions may lead to relationships that develop over months or years, so maintaining a record helps the firm understand what has happened.

Where Gatsby Fits Into the Process

For law firms managing hundreds or thousands of client relationships, keeping up with company developments can require considerable research time. Marketing and business development teams may be monitoring acquisitions, executive appointments, expansion plans and other developments across several industries.

Gatsby Aware allows firms to monitor selected clients and prospects for relevant developments. Gatsby Intel provides on-demand company and professional research that can be used to prepare for meetings, investigate announcements and develop background information for client planning discussions.

For example, a business development team may be monitoring a group of priority corporate clients. When one announces plans to acquire a business in another market, the team can research the company and review the development with the relationship partner. If the firm has relevant experience in other practices, the team can prepare information that helps the partner decide whether to involve additional colleagues.

The same process can be used when a client appoints a new executive, enters a new industry or announces a significant investment. The research provides context for the internal discussion, while the lawyers determine whether the development warrants action.

A Cross-Selling Checklist for Law Firm Business Development Teams

Review the Relationship

• Identify the lawyers and practice groups currently serving the client.
• Review the firm's matter history and the types of work it handles.
• Confirm the principal relationship partners and client contacts.
• Identify subsidiaries, portfolio companies and other related businesses.
• Determine which practices aren't currently involved in the relationship.

Research the Business

• Review the client's recent acquisitions, investments and expansion plans.
• Identify changes in executive leadership and business operations.
• Research the company's industry and relevant business developments.
• Monitor priority clients for announcements that may affect their legal needs.
• Compare those developments with the firm's experience across practices.

Coordinate Internally

• Discuss relevant developments with the relationship partner.
• Identify colleagues who have handled similar matters.
• Prepare examples of relevant experience before suggesting introductions.
• Include appropriate lawyers in client team and account planning discussions.
• Agree on who will handle outreach and follow-up.

Develop Relationships

• Prepare lawyers for client meetings with relevant company research.
• Identify opportunities to introduce additional lawyers when appropriate.
• Invite clients to events and discussions related to their businesses.
• Develop content that addresses issues affecting priority clients.
• Follow up on conversations and introductions.

Measure Progress

• Track introductions and meetings involving additional practices.
• Record opportunities identified through client research and planning.
• Monitor new matters involving existing clients.
• Review which clients are using multiple practices.
• Update client plans as relationships and business priorities change.

Frequently Asked Questions About Law Firm Cross-Selling

What is cross-selling in a law firm?

Cross-selling involves introducing existing clients to additional lawyers or practice groups within the same firm. For example, a firm that represents a company on corporate transactions may also have employment, litigation or regulatory lawyers who can assist with other legal matters. The introduction is most useful when it relates to an issue the client is dealing with or a development affecting its business.

How can law firms identify cross-selling opportunities?

Law firms can start by reviewing the work they already perform for clients and comparing it with the clients' broader business activities. Research into acquisitions, expansion plans, leadership changes and other company developments can help identify potential legal needs. Client meetings and discussions among lawyers from different practices can provide additional information.

How can AI help law firms expand existing client relationships?

AI-powered company research and monitoring tools can help firms gather information about clients, track business developments and prepare for meetings. Business development professionals can review that information alongside the firm's existing client and matter records to determine whether there are developments worth discussing with relationship partners.

How can law firms encourage lawyers to cross-sell?

Lawyers are more likely to make introductions when they understand their colleagues' experience and have a specific reason to involve them. Firms can organize discussions among complementary practices, share examples of relevant matters and provide research that connects a client's business activities with the firm's capabilities. Relationship partners also need to remain involved in decisions about client outreach.

What is the difference between cross-selling and client expansion?

Cross-selling involves introducing additional services or practices to an existing client. Client expansion can also include developing relationships with new executives, increasing work within an existing practice, representing subsidiaries or portfolio companies and becoming involved in additional business units.

How does Gatsby support law firm cross-selling?

Gatsby Intel provides on-demand company and professional research, while Gatsby Aware helps firms monitor selected clients and prospects. Law firms can use these capabilities to prepare for client meetings, research business developments and support internal discussions about potential opportunities involving additional practices.

Making Better Use of Existing Client Relationships

Most law firms already have relationships and experience that could support additional work from existing clients. The challenge is making sure the lawyers who maintain those relationships know enough about the client's business and their colleagues' experience to recognize when an introduction may be appropriate.

Marketing and business development professionals can help by organizing client information, researching company developments, preparing lawyers for meetings and coordinating discussions across practices. They can also track introductions and opportunities so the work doesn't stop after an initial conversation.

Gatsby Intel and Gatsby Aware can support this process by providing company research and ongoing monitoring that firms can incorporate into their client development efforts. Lawyers can then combine that information with their relationship knowledge and legal experience when deciding how to approach clients about additional needs.

About Gatsby

Gatsby provides company and professional research and monitoring tools for law firm business development. Gatsby Intel supports on-demand research for client and prospect meetings, pitches and account planning. Gatsby Aware helps firms monitor selected companies for developments that may be relevant to their business development activities.

Learn more at https://trygatsby.ai.