In many law firms, 20 percent of the clients produce 80 percent of the revenue. Yet those important clients typically receive a minuscule portion of the firm’s marketing attention. Client retention is often regarded as something outside the boundaries of marketing and as only a minor factor in compensation. But increased competition, eroding client loyalty, “partnering” with clients, and a slew of other factors have made that an increasingly suicidal equation.
Law firms seem compelled to focus their limited marketing time....