Latest news with #clientengagement
Forbes
03-07-2025
- Business
- Forbes
How Trust And Relationship Building Transform Client Engagement
John R. Kormanik, esq. CEO and Head Coach at John R. Kormanik Coaching. From my past working in law and my current career as an executive coach working exclusively with outstanding law firm leaders, I've seen up close how trust is essential for driving client engagement. Think about it. Clients often arrive at the lawyer's door drowning in confusion, cloaked in crisis and consumed by conflict. While they're coming to you and your associates for expert legal tactics, cultivating a trusting relationship with them at the same time can pay enormous dividends for your firm. However, attorneys are trained to evaluate facts, make arguments and generally act in ways that avoid risk. In other words, they're trained to build cases, not relationships. So, they tend to believe it's more important to let their work speak for itself. But in a world of ever-increasing competition, that couldn't be further from the truth. Relationship Building Is A Driver Of ROI Relationship building with clients, their team, referral sources and tactical partners is as much of a strategic leadership practice as business development or 'lawyering.' Focusing on these connections can lead to a variety of benefits. For example, it helps create stronger client bonds, greater lifetime value (LTV) and deeper impact. Establishing a relationship with clients can improve their satisfaction, leading to greater retention. As law expert Heidi Gardner once said, 'The more partners serve a client, the longer that client remains with the firm.' This is vital, considering the cost of acquiring a new client is higher than retaining an existing one. Meanwhile, as research has shown, just a 5% increase in customer retention can increase profits by 25% to 95%. Talk about increasing LTV! Despite this, most attorneys compartmentalize working relationships as clients, potential clients, the opposition or someone who's not relevant. So, what would happen if we ditched the compartmentalization and simply thought of people as people? The Shift From Transaction To Transformation When engaging with clients, most lawyers default to showcasing their well-honed legal tactics. After all, it's tactics that ultimately make it possible to deliver the results the client seeks and remain within the ethical boundaries that govern attorneys' work. Leaning on them is easy, comfortable and safe. However, when we're solely focused on being tactical, we lack the capacity to empathize and connect with others. Do clients want a brilliant tactician? Of course they do. But I don't believe that's all they want. Clients need their counsel to understand them on a human level and provide space so they can tell their story (even the parts that are legally irrelevant). They want to know that, when you're speaking with them or working on their matter, you're fully present and engaged. Because while the client's matter may be one of many for you, it's one of one for them. Finally, clients crave reliability. Do you do what you say you will do, when you say you will do it? Each of these things—understanding, presence and reliability—creates trust between your client and you, creating a strong relationship. Turn Relationship Building Into A Core Leadership Habit Becoming skilled at relationship building isn't some hack or marketing ploy, though. People have outstanding b.s. detectors. If you want to start thinking in terms of what clients actually want from their attorney, then act in accordance with that knowledge, you have to shift your approach to leadership. It'll require slowing down, being uncomfortable and doing things differently, all in service of your client and, ultimately, your firm. Here are three key ways to ensure that you and your team are skilled in relationship building: 1. Create clarity. Make certain you frequently talk about the value of relationship building. I find this George Bernard Shaw quote to be a valuable reminder: 'The single biggest problem in communication is the illusion that it has taken place.' 2. Walk the talk. Through your actions, demonstrate the importance of relationship building. Additionally, ensure your compensation model identifies and rewards the achievement of KPIs that evidence relationship building. Then communicate the value of the activities to individuals and the firm as a whole. 3. Hire for interpersonal ability. Law firm leaders, whether they're managing partners, shareholders or practice group leaders, should consider the words of J. Willard Marriott, former CEO of Marriott International: 'It's very hard to teach people to smile. That's why we hire friendly associates and train technical skills.' With that in mind, bring on associates who understand the value of, and are energized by, relationship building. Final Takeaway: Lawyers Who Lead, Win In the ultra-competitive legal market, shifting your priorities from being the best tactician to being the best trusted advisor who cultivates relationships isn't just fluff. It improves the firm's bottom line. But trust isn't built in your conference room in a single interaction. It's built little by little every day, when you and your associates consistently show up as human beings first, tacticians second. Forbes Coaches Council is an invitation-only community for leading business and career coaches. Do I qualify?
Globe and Mail
25-06-2025
- Business
- Globe and Mail
Can SFIX's Personalization Drive Continued Average Order Value Growth?
Stitch Fix, Inc. SFIX has demonstrated sustained Average Order Value (AOV) growth, reflecting strong client engagement and the success of its strategic transformation. In the third quarter of fiscal 2025, AOV increased 10% year over year, marking the seventh consecutive quarter of growth. This rise is primarily driven by the introduction of larger Fixes, allowing clients to receive up to eight items instead of the traditional five. The adoption of these larger Fixes has more than doubled from the first quarter, highlighting strong client demand for more flexible and comprehensive wardrobe solutions. This increased flexibility has enabled clients to refresh their wardrobes in line with seasonal trends and life events while offering a more personalized experience. Stitch Fix has extended this offering to first-time clients, helping the company better understand new customers' preferences from the start, which improves long-term engagement and satisfaction. The launch of themed Fixes, curated for specific occasions like summer vacations or workwear updates, has strengthened the appeal of the service. A key driver of AOV growth also comes from enhancements in product assortment. The company has expanded its selection to include more on-trend styles and adjacent categories such as footwear, accessories and jewelry. This broader offering has fueled higher AOV and contributed to growth in both Fix and Freestyle channels. Notably, athleisure sales jumped more than 30% year over year, sneakers rose 35%, and demand grew for categories like women's wide-leg denim and men's fleece and knit tops. SFIX Freestyle-Fix Integration Boosts Engagement In addition to product variety, Stitch Fix introduced an innovative feature that allows clients to start a Fix based on an item they discover on the Freestyle platform. This creates a seamless connection between Freestyle's browsing experience and the personalized styling of Fix, encouraging clients to add more items while still benefiting from stylist expertise. These initiatives translated into a revenue per active client of $542, up 3.2% from the prior year. The company's leadership emphasized that this sustained AOV growth is not accidental but the result of intentional investments in pricing optimization, inventory management and merchandise expansion during the earlier phases of its business transformation. The company acknowledges that the strength seen in fiscal 2025 will create tougher year-over-year comparisons in fiscal 2026. However, leadership remains confident that continued focus on client engagement, product innovations and enhanced personalization will help maintain AOV growth. Stitch Fix views this sustained improvement in AOV as clear evidence that its evolving business model and client-centric strategies are resonating well, positioning the company for continued momentum and long-term market share gains. Stitch Fix's Valuation Picture SFIX is currently trading at a forward 12-month price-to-sales (P/S) multiple of 0.39X, which positions it at a discount compared with the industry's average of 1.69X. The stock is also trading below its median P/S level of 0.41X observed over the past year. Also, SFIX is priced lower than the sector's average of 1.61X. It has a Value Score of A. SFIX's Stock Performance Shares of this Zacks Rank #2 (Buy) company have gained 6.9% in the past three months compared with the industry 's 7.3% growth. Other Key Picks Some other top-ranked stocks are Urban Outfitters Inc. URBN, Canada Goose GOOS and Allbirds Inc. BIRD. Urban Outfitters is a lifestyle specialty retailer that offers fashion apparel and accessories, footwear, home decor and gift products. It currently flaunts a Zacks Rank of 1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here. The Zacks Consensus Estimate for URBN's fiscal 2026 earnings and sales implies growth of 22.2% and 8.5%, respectively, from the year-ago actuals. URBN delivered a trailing four-quarter average earnings surprise of 29%. Canada Goose is a global outerwear brand. GOOS is a designer, manufacturer, distributor and retailer of premium outerwear for men, women and children. It carries a Zacks Rank #2 at present. The Zacks Consensus Estimate for Canada Goose's current fiscal year's earnings and sales implies growth of 10% and 2.9%, respectively, from the year-ago actuals. Canada Goose delivered a trailing four-quarter average earnings surprise of 57.2%. Allbirds is a lifestyle brand that uses naturally derived materials to make footwear and apparel products. It carries a Zacks Rank of 2 at present. The Zacks Consensus Estimate for Allbirds' current financial year's earnings implies growth of 16.1% from the year-ago actual. The company delivered a trailing four-quarter average earnings surprise of 21.3%. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Urban Outfitters, Inc. (URBN): Free Stock Analysis Report Canada Goose Holdings Inc. (GOOS): Free Stock Analysis Report Stitch Fix, Inc. (SFIX): Free Stock Analysis Report Allbirds, Inc. (BIRD): Free Stock Analysis Report
Zawya
03-06-2025
- Business
- Zawya
DFWAC hosts interactive meeting with external clients to enhance service quality and user experience
Dubai, United Arab Emirates: In line with its commitment to engaging clients in the design and continuous improvement of services, the Dubai Foundation for Women and Children (DFWAC) organized an interactive meeting with external clients aimed at identifying their needs, understanding their expectations, and gathering feedback on the services provided. The session was attended by HE Shaikha Saeed Al Mansouri, Acting Director General of the Dubai Foundation for Women and Children, along with directors and staff members from the relevant departments. The Meeting provided an opportunity to present key outcomes of the Foundation's programs and services, discuss challenges faced by clients, and review suggestions for enhancing service quality and ensuring long-term sustainability to achieve the highest levels of client satisfaction The External Clients Meetings are part of the ' Imprint' initiative, launched by the Foundation in 2022. This initiative comprises a series of pioneering projects, including regular engagement Meetings with both internal and external clients, as well as an annual survey that evaluates the client experience across three core dimensions: satisfaction, trust, and quality. Additionally, the Foundation is preparing to launch the Service Design Challenge from the Client's Perspective later this year, a project designed to strengthen client engagement and position clients as key partners in the journey towards continuous improvement and service excellence. During the session, HE Shaikha Saeed Al Mansouri emphasized the Foundation's belief in the importance of collaborative work with clients and the value of listening directly to their voices. She noted that these sessions reflect the Foundation's ongoing commitment to understanding clients' real needs, drawing inspiration from their insights, and integrating their constructive feedback into developing more comprehensive and impactful services She added that the Dubai Foundation for Women and Children places the highest priority on client experience and strives continuously to enhance its programs and services to meet expectations and improve quality of life. This is achieved through psychological and social support programs, comprehensive rehabilitation services, and holistic care offerings provided around the clock, with a focus on empowering women and children to reintegrate confidently into society and rebuild their lives with safety and stability The Meeting also featured a special recognition of a group of clients who demonstrated exceptional engagement and contributed valuable feedback and suggestions that helped enhance service quality. HE Al Mansouri expressed the Foundation's deep gratitude for this constructive collaboration, underscoring that such partnerships embody a spirit of shared responsibility and mutual cooperation in achieving the Foundation's humanitarian mission The Meeting concluded with the Foundation reaffirming its unwavering commitment to continuously developing services, delivering tailored solutions that meet client needs, and emphasizing that collaborative efforts and listening to client voices remain the cornerstone of achieving excellence and leadership in delivering social and humanitarian services
Forbes
20-05-2025
- Business
- Forbes
A Project Debrief Strategy Is A Critical Tool For Thought Leadership
Here are five powerful opportunities you may be overlooking—and how to catch them next time. Every client engagement generates new observations. Some are about the industry. Some are about your client's blind spots. Some are about how your methodology actually performs in the field. But unless someone's asking the right questions—and documenting the answers—those patterns disappear. What you're really losing: the early threads of your next thought-leadership story. Maybe it's the third client this year that stumbled over the same internal friction point. Maybe it's a trend emerging in the behavior of their customers. These patterns, when tracked and named, often become the seed for a signature insight—one that separates your voice from the crowd. Fail to capture them, and your best thinking stays invisible. Clients have their own way of talking about pain points—and they're not using your marketing copy. During engagements, they drop phrases in meetings, feedback loops, and emails. They use metaphors. They name tensions. They give you raw, authentic language that tells you what really matters. Most teams let this language slip away. And when it's gone, so is your chance to mirror the market in your writing. What you're really losing: language that could drive your next article, presentation, or sales conversation. Capture it, and you gain not only insight, but empathy. Your audience feels seen. Your writing becomes sharp and relevant. And you start to sound like someone who gets it—because you do. Every project has a before/during/after arc. There's a challenge. A decision. A pivot. A surprise. A result. If you zoom in on any single moment of that arc, you likely have the makings of a compelling story. But most debriefs don't look for story. They look for summary. So the stories stay buried in bullet points—or worse, forgotten. What you're really losing: authentic, emotional, specific stories that could become your best marketing assets. When you debrief with storytelling in mind, you start to collect examples that do more than prove your value. They reveal how you think, how you work, and what kind of partner you are. Even if a client won't go on record, you can anonymize the insight. Tell the story. Protect the source. And still show the world how you solve problems that matter. Most teams make critical adaptations mid-project. They adjust a framework. They invent a workaround. They prototype a solution. It works. Everyone nods. And then it's gone. Unless someone names it, documents it, and folds it back into your process and methodology, that new idea vanishes into the archive. What you're really losing: future IP. If you consistently adapt your approach in smart, creative ways, those adaptations are your intellectual property. They are how you work. And they're likely what makes you different. But they only become part of your market identity if you capture and codify them. Otherwise, you're innovating for free—and leaving no trail. This is the one that stings. You solve a hard problem in a novel way. You have the evidence. The insight. The story. But because you didn't write it down—didn't publish it, share it, name it—someone else will. And they'll look like the innovator. Not you. What you're really losing: your place in the market conversation. Thought leadership isn't about being loud. It's about being early and clear. If you're not turning project insights into external IP, your competitors will. And the market will forget who did it first. Rethink your debrief strategy. Shift its purpose from operational reflection to insight capture. Start by embedding a few key prompts: Better yet, have a dedicated facilitator or strategist attend your debriefs with the express goal of mining for IP. Because the insight is already there. You lived it. You earned it. With the right project debrief strategy, you'll be able to turn that insight into something that lasts.
Yahoo
07-05-2025
- Business
- Yahoo
Citi CEO Fraser on Eco Data, Client Engagement, Fed
Citi CEO Jane Fraser discussed the gap between hard and soft US data, "tremendous" client engagement, difficulties for the Federal Reserve, and the growing pipeline for deals. Fraser spoke with Sonali Basak on the sidelines of The Milken Institute Global Conference in Beverly Hills, California.
