What is a Referral Acceleration Program?
A Referral Acceleration Program is a growth initiative focused on increasing inbound legal work from other law firms abroad, or from other stakeholders in the business community that have sway over the decision as to which law firm is appointed as legal counsel. Local referrals can come from private equity funds, investment banks, accountants, or other law firms that simply do not have the required expertise to handle certain aspects of a project.
Our guide on Referral Acceleration Programs will help you understand the following:
- What is a Referral Acceleration Project?
- How does a Referral Acceleration Program work?
- How does a Referral Program work?
- How to use a Nexl Project to run your Referral Acceleration Program?
What Are the Outcomes of Having a Referral Acceleration Program?
Some of the main goals of a Referral Acceleration Program includes:
- Increase the inflow of legal mandates from abroad.
- Develop strong, institutional relationships with “best friend” firms overseas to whom the firm can also send work when a certain project requires so.
- Ensure that the business development and networking efforts are directed to those jurisdictions and firms offer the highest potential in terms of referrals.
- Aligning your international referral strategy so you “reciprocate” a referral relationship whenever the Project allows you to. For instance, when you plan a roadshow to New York you will want to prioritize your visits in terms of their activity and mandates in your jurisdictions.