NASHVILLE, Tenn., (May 8, 2023)—The personal injury law conference, Xcelerate Your Average Fee 2023, held at the Joseph Hotel in Nashville, came to a close after two days of insightful presentations and informative networking opportunities. The conference was attended by PI attorneys and their staff members from around the country looking to enhance their business growth and improve their revenue.
Led by Xcelerator co-founders, Chad Dudley and Micki Love, attendees learned the steps attorneys can take to maximize case value and ensure they get the best result for their clients. By implementing these processes, the attorneys of Dudley DeBosier Injury Lawyers in Baton Rouge, Louisiana, have achieved a 400% increase in average fees.
Greg Stokes, founding member of Atlanta, GA-based law firm Stokes & Kopitsky, PA, states, “This is my second year attending the Xcelerate Your Average Fee conference. I learn so much from Chad Dudley’s analytical mind, how he understands metrics, and the dynamics of organizing a law firm around metrics.” Mr. Stokes continues, “I encourage law firms to attend and hear what Chad and Micki Love have to say. Even if you take one or two things back with you, you’ll enhance the value that you offer to your clients that have been injured.”
Here are some of the top takeaways from the PI Conference, Xcelerate Your Average Fee 2023:
Growing The Distance Between Cost Per Case and Average Fee Is Key: Markets are getting more competitive and leads and cases are getting more expensive each year. If firms only focus on getting the cost per case down, they might end up with lower-quality leads. Similarly, focusing on increasing the average fee while allowing the true cost-per-case to rise is not beneficial to a law firm’s profit.
A firm’s average fee should be at least 5x more than your average cost-per-case adjusted to remove cases that close without a fee.
Rankings Matter: Having systems to put both cases and attorneys into tiers ensures that the right attorneys are matched with the right cases and that your team spends the right amount of time on cases. The goal is always to get the cases with the highest potential to the attorneys with the most skill and to support their efforts with your best resources. Every attorney at the firm should know their rating.
The Art of Lawyering is Communication: Working with an attorney can be intimidating for many law firm clients, especially if it’s their first experience in a legal situation. Building rapport with the client is one of the best ways to prove they are worthy of a big verdict. A strong relationship is built on consistent and meaningful communication, starting from the case’s onset.
Especially in depositions, making the client feel at ease and doing all possible to calm nerves is critical. Here are three tips from Dudley Debosier Attorney Ross LeBlanc that are especially helpful:
- Listen actively: Mirror what the client says to show that you are paying attention and care about their story.
- Show the client you have nothing more important to do: Putting your phone on “do not disturb” mode shows clients they have your undivided attention.
- 80% of all communication is non-verbal: Make sure your body language tells the client you are listening and care about what they say.
Xcelerate Your Average Fee 2023 was a resounding success, providing attendees with valuable insights and practical strategies to enhance their business growth and revenue.
About Law Firm Xcelerator
Law Firm Xcelerator’s consultants are industry leaders helping law firms grow and reach their full potential. Led by Micki Love and Chad Dudley, the Xcelerator team has over 78 years of combined Personal Injury experience advising some of the nation’s fastest-growing firms. Law Firm Xcelerator provides a framework to improve all aspects of a PI law firm’s operations, from intake to case management and all points in between. Whether looking for planning sessions or coaching for attorneys, case managers, or intake, Law Firm Xcelerator can improve your efficiency, increase your average fee, and more. For more information, visit www.lawfirmxcelerator.com.
Interested in attending an Xcelerator event or having Micki and Chad speak at your event? contact:
Elizabeth Harrell
Marketing & Operations Coordinator
615.296.1074
eharrell@cjadvertising.com
