Why All Law Firms Need CRM(or Taking Control of Your Firm’s Opportunitiesfor Profit)
Agenda1. It’s all about Grow – Protect – Sustain!2. Determining your CRM needs3. Why should CRM be a priority4. Demonstration scenarios5. Software might not help6. Communicating the benefits7. Calculating ROI8. Getting started9. How we can helpQ&A(This session will be recorded)
Grow, protect, sustain What clients will you lose? How many have you called on? What is the rest of the firm doing? Who is talking to our clients or prospective clients? What are other firms doing? When lawyers change firms…
Determining your CRM needs How many new client prospect telephone calls do you make each day? Does everyone who communicates with a client know what other practice groups said to them or did for them? Is all client information kept in one area or program for easy reference? Do you have several databases of information that you need to access for a 360 degree client view? Are you able to manage the top 20% of clients that give you 80% of your revenue and 90% of your profit?
Why should CRM be a priority Staff satisfaction and turnover Targeting and closing new business Management of client interactions and profitability Turns frogs into princes Internationally In Canada, CASL “control and prevention” of unsolicited email, SMS, Instant Messaging (IM), Spyware, Malware, Phishing, Pharming, Social Networks In UK, the Legal Services Act will see the GBP23 Billion legal services market shared with banks, insurers and retail outlets
Making CRM work in your firm Common scenarios Searching for clients and exploring relationships Adding new contact records, connections and lists Reviewing activities, creating and sharing opportunities Creating a targeted mailing/event list
Warning! software might not help CRM is not software Consider the culture of the firm What is the attitude toward sharing of clients and contacts? How can the managing partner help? Is there a CRM champion? A carrot and stick approach Fear of sharing Ease of use Avoid going too “heavy”
Communicating the business benefits Centralized and reliable information/knowledge base (deal flow, sales pipelines etc.) for reporting ROI on marketing/business development investments Improved communications (clients, prospects, affiliates/referrers/industry marketing lists) – “Name and Shame”, “Walk on Water” reporting Better collaboration across staff/teams/practice groups Stronger relationships - clients/staff/associates/partners Greater efficiencies - staff can do more with the time they have Eliminate processing fall throughs using triggered alerts Full, complete audit trail of marketing, business development, client care activity Enhanced client satisfaction through better ownership, improved service levels/escalation and follow through Better business analysis, automated trend reporting to make informed decisions using dashboards/KPI reports Single view into marketing/financial/client management
Calculating ROI How many existing clients did your firm lose in the past 12 months and what were the annual revenues? How many new business opportunities were lost in the past 12 months and what were they worth? What is the dollar value of business opportunities missed for timing or lack of follow up? What are practice groups doing to support business development? What is the cost of servicing your most difficult clients? Are they worth it?
Getting started Take action Consider the priorities Match the right technology to the firm Relationships are king. Knowledge is power. Contacts and relationships are the firms assets The need for integration Find the “light house” practice groups
Helping law firms become more effective business developersWhat we do is help law firms and We can help coach people totheir staff become more effective become systematic, organized,business developers – to increase disciplined, innovative andclient billings with less effort tenacious in their business development activitiesWhat we believe in is that it isno longer just enough to be good Why use us? Track record – We areat what you do. You must also be more focused on change, not justgood at winning new clients and educationhave systems in place to retainthemWhat are we looking for? Firms that share our beliefs and want tocreate a consistent source of new clients and secure revenue streamswhere they are in control and are prepared to invest to get it
Thank You!xRM4Legal “On Demand”:• Fixed fee per month per user• No hardware required; no server or Client Access Licences required• Includes software updates, unlimited phone/email support• Quick start fixed fee implementation and training• Comprehensive implementation and “train the trainer” kitsEmail David@xRM4Legal.comEmail Phil@xRM4Legal.comPhone (212) 653 0379