The “Harder Dollar”: The new rules for winning legal work
It takes more time, money and effort to earn that $1 now compared to a generation ago. For professional services firms and law firms, this saying is true—it’s also probably true for most other businesses.
The rise of the RFPs
As in-house legal teams are under pressure to control costs and deliver efficiency and value, more of them will rely on the RFP (Request for Proposal) process which enables them to compare approaches, pricing and value-added services, thereby formalising how external counsel is selected. This is evidenced in the increasing number of RFPs seen by professional services firms and law firms.
In China, state-owned enterprises (SOEs) and some large corporates are increasingly issuing RFPs to law firms and professional services firms, guided by stringent scoring systems that evaluate key criteria such as expertise, pricing, and compliance. This rigorous evaluation process is often accompanied by a “beauty parade,” where shortlisted firms present their capabilities and proposals in a competitive process to ensure a fair and transparent selection process.
Under these circumstances, should the firm bid for everything or should the firm have a robust “go/no go” system?
Clients want more than connections
Today’s clients—whether MNCs or tech scale-ups—expect more than a name on someone else’s lips. They want:
Sector expertise backed by evidence: No vanilla set of credentials—the credentials must be directly related to what the client is asking for, specifically the sector, jurisdiction, nature of matter, and type of work. Make sure the bios of the professionals and lawyers have their experience lined up with what the client needs.
Transparent fees and innovation in delivery: No more simply hourly rates. Your rates and the value you offer must be relevant to your client. You should also find out what your competitors charge. Think about some innovative pricing models such as value-based pricing or modularised flat fee, etc.
Diverse teams and cross-border collaboration: Increasingly, especially for global clients, we are seeing requests for diversity in gender, backgrounds, cultures and languages.
Proactive insight, not reactive advice: Firms need to understand the client’s business, markets, their end clients and their competitors. Send your client relevant thought leadership materials or trending news that may impact their business. Show your clients how you can help them.
Cultural understanding: Particularly in Asia, clients will want to know if a firm has true understanding of Asia, business norms, hierarchy and language. Example, spoken and written Chinese by a Singaporean or Hong Konger is not the same as Mainland Chinese.
From word of mouth to thought leadership
Referrals build trust. Thought leadership builds reach.
Lawyers and professionals across Asia are learning that clients discover expertise differently now—through articles, blogs, social media (LinkedIn and WeChat), webinars, and podcasts. Visibility and credibility go hand in hand.
Anecdotally, lawyers have said they have received work and verified enquiries via LinkedIn as a result of sharing their thoughts and comments on social media.
Use social media to your advantage—comment and post content that is relevant to your work and your target audience. Build a reputation for yourself—be known for something. Clients are increasingly doing their own research online on professional services firms and law firms. If they don’t find material on you, they are less likely to be convinced of your capabilities.
Listening, not waiting
Leading firms are also moving from passive to proactive client engagement. They run formal feedback interviews, track satisfaction scores, and anticipate client needs before issues arise.
Even informal regular catch ups with clients will net professionals and lawyers first-hand information on upcoming projects or RFPs. Better to get a head start than to wait for the RFP to come out—by that time, a decision would likely already have been made. We’ve heard of a lawyer who would regularly meet with a prospective client and eventually got a chunk of work from them, taking the work away from another law firm that had previously been their preferred firm.
Collaborate, collaborate, collaborate
Meanwhile, regional lawyers are collaborating more across practices and borders—because clients rarely want advice confined to one jurisdiction. There are several Asia or Southeast Asia legal alliances facilitating this need—not to mention similar global alliances. A lawyer who can connect dots across Asia creates value no referral can match.
The mindset shift
The message for Asia’s lawyers is clear: referrals alone are no longer a strategy—they’re a starting point.
The next phase of growth depends on blending traditional relationship-building with modern business development. That means showing expertise, not just claiming it; listening to clients, not waiting for introductions; and turning visibility into trust.
While referrals could still open doors, but they could no longer guarantee the work behind them.
