10/7/2012                                    R.O.I:                                    The Only Technology                ...
10/7/2012         A Little More About This Presentation    It’s about technology       But        it’s also about people...
10/7/2012                                 Seller’s Complaints       Buyer only cares about price       Real decision mak...
10/7/2012                    Buyer’s View of Solutions          Business development          Enhanced Client retention ...
10/7/2012                                 Dogs & Ponies            Providers open the stables and trot             out coo...
10/7/2012          Ok, Yes, They Are Appealing© 2012 ClientsFirst Consulting                                 We Deserve Mo...
10/7/2012                     How to Get ROI                on Technology Investments   Ask questions   Solve problems  ...
10/7/2012                                    Numbers        Positive Numbers            Revenue,  Profitability, Realiza...
10/7/2012                                  Attorney Profile© 2012 ClientsFirst Consulting                                 ...
10/7/2012                                 Reporting© 2012 ClientsFirst Consulting          Takeaways / Final Success Steps...
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2012 LMATECH - Chris Fritsch - ROI Presentation

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Are you getting payback on your CRM, email, social media and online advertising investments?
Often, firm technology initiatives are driven by faddish groupthink or top-down decisions, which can make it hard to justify the considerable expenditure of resources required to successfully implement and maintain technology solutions. Cleary, there has to be a better way…
The focus will be on how to apply software and solutions judiciously to extract real value from firm technology investments. This ultimately helps to put marketing professionals at the center of measuring success and driving results.
Moderator: Chris Fritsch, CEO, ClientsFirst Consulting, LLC
Speakers: Lydia Bednerik is Marketing Director for Wendel, Rosen, Black & Dean LLP; Rob Kahn, Chief Marketing Officer, Fenwick & West LLP; Jonathan R. Fitzgarrald, Chief Marketing Officer, Greenberg Gluskser

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2012 LMATECH - Chris Fritsch - ROI Presentation

  1. 1. 10/7/2012 R.O.I: The Only Technology Acronym That Matters Christina R. Fritsch, JD ClientsFirst Consulting CF@ClientsFirstConsulting.com 404-249-9914 A Little More About Us Lydia Bednerik Chris Fritsch Marketing Director Legal Technology Wendel, Rosen, Black & Consultant Dean LLP ClientsFirst Consulting Jonathan Fitzgarrald Rob Kahn Chief Marketing Officer Chief Marketing OfficerGreenberg Glusker Fields Fenwick & West LLPClaman & Machtinger LLP© 2012 ClientsFirst Consulting A Little More About You© 2012 ClientsFirst Consulting 1
  2. 2. 10/7/2012 A Little More About This Presentation It’s about technology  But it’s also about people and process It’s about value  This is defined differently by different firms and people and needs to be assessed It’s about results and ROI  They can and should be measured Most importantly it’s about you  So please stop us at any time to ask questions or share ideas or information© 2012 ClientsFirst Consulting 4 The Dichotomy When it comes to legal technology, there can sometimes be a fundamental disconnect between buyers and sellers  Buyers want the latest and greatest technology  But sometimes aren’t focused enough on firm needs, issues and problems  Sellers make terrific technology tools  But can sometimes get too focused on bells and whistles This can lead to disconnects – and complaints© 2012 ClientsFirst Consulting Buyer’s Complaints  Wasted money  Seller’s don’t understand law firms  Seller’s didn’t get to know us  Overpriced or glorified rolodex  ‘Lawyers’ won’t / don’t use it  ‘Shelf-ware’  Unintuitive interface  Systems don’t integrate  Data cleanup was ridiculous  Sales reps don’t know the product  Non-existent support and service© 2012 ClientsFirst Consulting 2
  3. 3. 10/7/2012 Seller’s Complaints  Buyer only cares about price  Real decision maker wasn’t involved  Didn’t negotiate in good faith  Other software is so out of date  Corrupt data  Service is for maintenance subscribers  Law firm’s just don’t get technology  Law firm’s don’t know we have ‘solutions’© 2012 ClientsFirst Consulting But how can you sell solutions without first taking the time to ask about and understand the issues or problems?© 2012 ClientsFirst Consulting Seller’s View of Solutions  Litigation / Deal Monitoring  Prospecting  Industry Monitoring  Company information  Financial information  Business information  Social media monitoring  Proposal generation  Experience tracking  News and Alerts© 2012 ClientsFirst Consulting 3
  4. 4. 10/7/2012 Buyer’s View of Solutions  Business development  Enhanced Client retention  New business opportunities  Cost reduction  Process automation  Improved leverage  Improved Client service  Lateral identification  Associate retention  Increased revenue and profits per partner© 2012 ClientsFirst Consulting Real Solutions  More sleep  Fewer problems  Staff retention  Reduced headaches  Fewer late nights or weekends worked  No irate lawyers in our offices© 2012 ClientsFirst Consulting Another Big Problem with Technology© 2012 ClientsFirst Consulting 4
  5. 5. 10/7/2012 Dogs & Ponies Providers open the stables and trot out coolest things that they think customers will find appealing including:  A parade of features and functions  Complete with bells and whistles© 2012 ClientsFirst Consulting Features  Integrated data sources  Comprehensive databases  Customizable reports  Broad coverage  Single point of access  Automatic alerts  Full integration© 2012 ClientsFirst Consulting Functions  Prospecting  Flexible filtering  Opportunity tracking  Industry leading sources  Powerful report building tools  Broad strategic views  Analysis filtering  Drill down and roll up information  Client share measurements© 2012 ClientsFirst Consulting 5
  6. 6. 10/7/2012 Ok, Yes, They Are Appealing© 2012 ClientsFirst Consulting We Deserve More Law firms should expect – and receive – return on technology investments Radical, I know© 2012 ClientsFirst Consulting Putting the ‘R’ in ROI  Results  Retention of current Clients and attorneys  Representing new Clients  Revenue generation  Reducing time spent on redundant tasks and processes  Risk assessment  Rewarding positive behavior  Recruiting key laterals  Reporting to drive business decisions  Respect for the marketing department© 2012 ClientsFirst Consulting 6
  7. 7. 10/7/2012 How to Get ROI on Technology Investments  Ask questions  Solve problems  Know your lawyers  Know your numbers© 2012 ClientsFirst Consulting Asking the Right Questions  What do the Clients value / want?  What do the lawyers value / want?  What problems do the Clients / lawyers have?  What are we wasting time/money on?  What processes could we automate?  How could we save/make money?  How much time/money are we wasting?  How much money revenue could we generate?  What advantage could we gain by…?  What will we do if…?© 2012 ClientsFirst Consulting R.O.I. Is About More Than Letters… It’s Also About Numbers© 2012 ClientsFirst Consulting 7
  8. 8. 10/7/2012 Numbers  Positive Numbers  Revenue, Profitability, Realization  Attorneytime spent on business development  Success rate on pitches and proposals  Negative Numbers  Postal mailing costs  Poor attendance at expensive events  Billable hours wasted  Write-offs  Dollars wasted on non-strategic activities© 2012 ClientsFirst Consulting Overview© 2012 ClientsFirst Consulting Attorney Profile© 2012 ClientsFirst Consulting 8
  9. 9. 10/7/2012 Attorney Profile© 2012 ClientsFirst Consulting Attorney Profile© 2012 ClientsFirst Consulting Tracking/Reporting© 2012 ClientsFirst Consulting 9
  10. 10. 10/7/2012 Reporting© 2012 ClientsFirst Consulting Takeaways / Final Success Steps  Assess needs and problems  Identify technology options  Add up the numbers  Take your time  Communicate successes  Reach out for help  Build partnerships inside and outside the firm  Think outside the box© 2012 ClientsFirst Consulting Thinking Outside the Box  Forget ‘out of the box’ Solutions  Customize  Configure  Integrate  Know your goals  Set success metrics  Budget appropriately  Check references  Ask questions© 2012 ClientsFirst Consulting 10

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