Legal CRM Strategy Corner

How Valuable is Your Law Firm?

Posted by David Blumentals

Despite the challenging economic times, Microsoft CRM4Legal is experiencing expanding sales.  This follows fundamental shifts in thinking at many law firms, with the net asset value of the firm now being defined by the value of client relationships.

This shift has driven CRM4Legal to be a top spending priority for firms across the globe with new customers across the United States, Canada, UK, Europe and Australia.  Law firms of all sizes are now accepting that client management is a “must have” – one of the “three pillars” of law firm information technology next to practice management and document management.

In advising Managing Partners and firm CEOs, Client Profiles is recommending focus on five key areas to improve the value of client relationships and, in turn, the value of the firm:

1. Focus on existing clients. There is a fundamental need for law firms to gain a single view of relationships across time. Many firms are currently lacking specific processes for retention and growth.  Firms can benefit from improved efficiency, client service and satisfaction when they adopt CRM4Legal.

2. Prioritize business development investments. Understand your unique value proposition and focus your resources on it. Try to balance mainstream deal mix against elephant hunting, and embrace technology to streamline processes. 

3. Simplify the client service experience. A unified desktop with a single CRM4Legal Outlook view is hugely beneficial to users, rather than having multiple applications open.  Law firms have historically missed out on a complete view of the client.  CRM4Legal integrates well with practice and document management systems from a variety of providers – including Thomson, Aderant and Interwoven/Autonomy.  This is delivering tremendous benefits in terms of efficiency and client satisfaction.

4. Right size your costs of client care. Firms should analyze their client care, marketing and communications and segment their client bases, moving simple and lower risk transactional clients to self-service, and provide opt-outs for assisted support. There is a need to have a tiering strategy relative to client base, certain clients where you want a more personalized touch. Put knowledge lookup and basic transactions online as much as possible.  This can include support for online event registration, publication subscribes and deal rooms.

5. Rethink your marketing strategy. Know your ROMI (Return on Marketing Investments) and ROC (Return on Client). Link demand generation for new matters to business development execution and deal closure. Don't waste money on marketing activities – events, seminars, publications – that aren't aligned with your client account plan goals. Implement scorecards and dashboards to make sure things are aligned.

New ILTA White Paper features Microsoft CRM for Law Firms

ILTA has officially released its latest Marketing Technologies White Paper, featuring an article co-authored by Client Profiles CEO Whit McIsaac along with Microsoft's Patrick Fitzhenry. The article, which examines the current state of Microsoft CRM for law firms globally, is a follow-up to 2006's Exploring Microsoft CRM in Law Firms.

To view the entire White Paper, go to http://www.mygazines.com/issue/3894.

Free Webinar Announcement: Microsoft CRM for Law Firms Comes of Age

2007 and 2008 saw early adopters of Microsoft CRM4Legal technology blaze the trail to successful implementations of the software. Like other pioneers, they met challenges along the path in a variety of forms, from business justification and culture, to living through the maturation of the product. These pioneers today have dramatically shifted the user paradigm for CRM use in law firms and rank in the top percentile for success, clearly raising the bar for the type of success law firms or other professional service firms expect when evaluating how to use a CRM system.

Join Client Profiles for an online exploration of Microsoft CRM4Legal and its expansion of interest across the globe -- from the Americas to Europe to the Asia Pacific region, and learn first-hand the core drivers behind the explosion of activity among professional service firms today.

Monday, November 16th, 2009 at 12 noon Eastern

Register for this Webinar >

Third Quarter Webinar Series Topics Announced

Client Profiles has opened registration for three new Webinars as part of its ongoing Client Profiles Law Technology Webinar Series. The complimentary online sessions are scheduled to take place September 23-25, 2009. Each brief webinar will focus on a specific area relating to law firm management, technology and the business/practice of law.

The session titles include The Lawyer’s Outlook: Easy-to-use Systems to Bill More and Work Smarter; Pandemic Planning: Lessons Learned and Steps Your Firm Can Take to Address Business Continuity During a Pandemic; and finally, Legal CRM Comes of Age.

The Webinars are intended for management-level law office professionals across a range of disciplines including Information Technology, Administration, Marketing and Business Development. Attendees will learn about current issues, emerging trends and best practices, as well as see concrete examples of solutions available to their own law practices.

Further information and registration is available at http://www.clientprofiles.com/Webinars.asp.

Client Profiles Selected as Microsoft Dynamics Partner of the Year

Client Profiles has been named 2009 Microsoft Dynamics Professional Services Partner of the Year, chosen out of an international field of top Microsoft partners as delivering market-leading customer solutions built on Microsoft technology.

The award will be presented at the 2009 Microsoft Worldwide Partner Conference in New Orleans on July 14. The Microsoft Dynamics Professional Services Partner of the Year award recognizes Microsoft Dynamics partners who have exhibited excellence in providing superior solutions based on Microsoft Dynamics to clients in the professional services industry. Client Profiles' dedication to developing innovative, legal-specific applications based on the Microsoft technology stack has resulted in a highly-satisfied client base which values tools based on industry-standard Microsoft platforms.

"Microsoft is excited to recognize Client Profiles as the Microsoft Dynamics Professional Services Partner of the Year. Client Profiles' product CRM4Legal has revolutionized the way law firms implement and benefit from Microsoft's CRM technology, delivering just the right mix of functionality and ease of use," David Smith, General Manager, U.S. Microsoft Dynamics Partners, Microsoft Corp. "Client Profiles has delivered critically important business intelligence information to their clients through their CRM4Legal technology, allowing them to identify where new business opportunities exist, what type of cross selling opportunities are available with existing clients, and where to focus marketing and business development efforts."

To view a live stream of the award presentation, beginning at 9:30 a.m. Eastern on July 14, visit the following link:

http://www.digitalwpc.com/

Think Pink at ALA

Posted by Jorge Sandrini

Will you be at the ALA Conference in New Orleans? If so, Client Profiles invites you to relax and have fun with us while supporting a worthy cause.

The ALA Conference ENCORE Reception will be held on Tuesday, May 19 in the Exhibit Hall, and Client Profiles will once again be asking ALA members to "Think Pink" and help us support the Susan G. Komen for the Cure Foundation to fight Breast Cancer. Please stop by the Client Profiles Pink Lemonade Stand at booth #741 for complimentary treats or to make a small donation for Breast Cancer research and awareness. Last year's event was an enormous success, with hundreds of ALA members stopping by to say hello, chat with the Client Profiles team and pick up a pink ribbon pin.

With your help and generosity, and with a pledge to match donations by Client Profiles CEO Whit McIsaac, we hope to raise even more than last year's successful amount of $1,200. This year's cash total will once again be donated directly to the Susan G. Komen Foundation. Looking forward to seeing everyone there!

An Economic Stimulus Program for Legal Marketers

Client Profiles has announced the CRM4Legal "Economic Stimulus Act" which allows law firms to acquire CRM4Legal at no cost for the first five user licenses. The program offers law firms the best possible way to begin implementing CRM within their firm, free of the financial risk associated with some law firm technology initiatives. Read the press release by clicking here.

To take part in the CRM4Legal Economic Stimulus Program, please contact Michael White at mwhite@clientprofiles.com. For additional information about CRM4Legal please visit www.CRM4Legal.com.

Focus on Change, Now What? A Perfect Storm…

Posted by Michael
Jennifer Manton refers to the theme of Change at this year’s LMA Annual National Conference and the compelling events facing law firms today as the “Perfect Storm.” Change is something we hear a lot about these days, for better or worse.  In a law firm, like any organization, change is inevitable. Sometimes change is unwelcome, thrust upon you unexpectedly -- sudden changes in financial commitment and “belt-tightening”,  the loss of a client, the firm asking you to do more with less, or a near collapse of the financial markets and global banking systems. Other times you seek it out, hoping that when you emerge from the process you, or your organization, are better for it (or at the very least not looking frantically for the undo command).

We firmly believe the changes to the current legal environment and firm structure does in fact create the Perfect Storm and will ultimately position well-managed and focused law firms to come out of this time stronger than ever before.  However, in order to do so, firms must ride this tide to an end goal of maximizing current resources in a strategic manner, based on clear tactics supported by Firm Strategy.

In legal marketing, one thing is certain. Changing the way a firm develops business in a more strategic manner is Change -- with a capital C.  Not developmental change, the sort that every company engages in to some degree in order to remain competitive. I’m talking about real transformational change, the kind that fundamentally alters the day-to-day processes of your business.

If done right, transformational change can produce wonderfully positive results for an organization looking to move beyond simply remaining competitive. The right CRM system, supported by Firm Strategy, implemented with industry-proven best practices in mind, can unlock a veritable treasure chest of new business opportunities for a law firm serious about advancing towards an integrated approach to attracting, attaining and retaining new clients and institutional loyal clients.

Of course, change is almost never easy. Once you have gotten past the hurdle of strategic Firm support and you have made a compelling business case a CRM system is exactly the type of transformational change your organization needs to support the effort . . . NOW WHAT?  How do you go about selecting a system that ensures success over the long run and ushers in a new era of change -- the GOOD kind – that brings with it maximized revenue and profitability?

You can start by helping to ensure that the system you select addresses what is fundamentally the most serious roadblock to the success of CRM implementation projects today -- user adoption. Without it the system will fail, along with all hopes and aspirations of directing your organization’s business development processes toward the next level.  This incremental approach will be critical to your success (See our discussion on an Incremental Approach to CRM Success…)

The following 5 guidelines present an outline of what to look for when selecting the right CRM system for your firm, one that makes it as easy as possible for ALL users in the firm to become permanently engaged in the process, the most vital prerequisite for CRM success.  

1) Customizable for different types of users (by Firm):
a. If you review our client base, we have firms of all sizes and each with a different underlying core reason for CRM, from the basic “blocking and tackling” of list management and data quality to the most strategic use of the application to manage top clients and strategic growth areas.
b. This also extends to configuring the application to be compelling to a broad and diverse user group by practice and user type, answering the proverbial “What about Me” question…

2) System Functionality:  Everything you read, hear from your peers and have learned from previous CRM initiative failures is that if a CRM product is not an extension of Outlook as the core User Interface, you will not get buy-in from the users. Believe it, this is the primary reason for our success.  We do it better than any other application, because WE ARE OUTLOOK…

3) Data migration & Data Management capabilities:  As stated many times in the past, without quality data, the finest application will not be accepted by the users. Without data quality, there will be a lack of confidence and lawyers will reject the system. A fine balance of change reporting and oversight is required.  Most importantly, data quality must be driven by the necessity for there to be a single shared source of the truth.

4) Ability to merge with existing workflow:  Our competitors have attempted to change the way lawyers and secretaries work with their applications and have failed.  For a CRM system to be used and accepted, it must evolve to meet the current work patterns and access/interface the users know and are accustomed to working in.  If you take the approach that users will change their behavior and work patterns for the good of the firm, you are sorely mistaken.

5) Future potential for development of the software:  Of equal importance is the ability to grow and evolve a CRM applications use without the need to buy additional modules, or develop new functionality.  The application must be built on an open and integrated Microsoft product platform in order to future proof the firm’s investment now and well into the future. 

Final Words…
Stay the course as you navigate this tumultuous time. Firms that do will come out stronger than ever and clearly distance themselves from their competitors. If we learn from what is going on in the financial markets and other down industries, their investments are in efficiency (technology) and tools to enhance customer satisfaction and effectiveness (CRM and Digital Marketing.)  Set a clear strategy, learn from other industries and focus on Revenue Growth. If the task you are doing does not drive the ability to support revenue generation, leave it in your stack of to-do’s…

How to achieve more in the current economic climate

Posted by David

The one question that is consistently being asked by our customers is, “How can Client Profiles help our law firm save money?” Well, the depth and breadth of our products and solution offerings is a huge asset, especially in times like these. We have many solutions that can save law firms money, and we are being more proactive in sharing these cost-saving ideas with our customers.

 

CRM4Legal helps law firms capture and keep track of the pulse of their clients. Having a keen understanding of the mood of the client is important in economic downturns when law firms are especially vulnerable to client churn.

 

Winning new clients in a tough economy is challenging. For those law firms with an eye on success, as opposed to mere survival, this is an ideal time to implement a CRM solution that can deliver client insight quickly, and offer value for the long haul. End users of these solutions are more motivated than ever to learn how to use them, and incorporate them in their daily work routines. Depending on which CRM system is selected, law firms can also achieve cost savings.

 

And when the economy does get back on the rails, law firms that have made investments targeted at managing their client relationships effectively will be the first to take advantage of growth opportunities.

 

In challenging economic times, law firms do not have the balance sheets to justify lengthy and capital intensive CRM system implementations. With CRM4Legal, law firms can quickly and affordably roll out a CRM solution. CRM4Legal provides all the functionality required by law firms to more effectively manage their clients at a predictable cost, on a per-user, per-month basis through Microsoft Financing.

 

Here are the top five value propositions on how CRM4Legal can help your law firm make and save money:

 

Retain clients and revenues

Let’s face it—law firms are especially vulnerable to client churn in a tough economy, which is precisely when they can least afford it. Microsoft CRM4Legal can help ensure that clients stay loyal, and that the firm keeps the revenue they provide flowing in.

 

CRM4Legal:

 

·         Streamlines the management of client relationships.

·         Enables rapid analysis and response to client inquiries.

·         Connects practice management data to improve the client experience.

·         Builds sustained relationships and new opportunities.

·         Drives client satisfaction and retention.

·         Answers the key questions of: who are our clients, what do we do for them, how can we do more.

Increase operational efficiency

Microsoft CRM4Legal can eliminate duplicate data entry, improve demand forecast accuracy and timeliness, and deliver an enhanced client service experience at a lower cost.

 

CRM4Legal:

 

·         Eliminates contact-data re-entry due to integration with Microsoft Outlook.

·         Can be adopted rapidly across a national or international network of offices.

·         Tracks and manages client opportunities and relationships.

·         Gives users visibility into data needed to gain more accurate demand forecasting.

·         Improves performance and cost-effectiveness.

·         Enables rapid response and closure to client inquiries.

Increase law firm staff productivity

With a centralised location for all client data, reliable and instant access to that data, and automated workflows replacing manual processes, Microsoft CRM4Legal improves office and court room productivity alike, as well as reduce overhead.

 

CRM4Legal:

 

·         Centralises client data for easy, reliable access.

·         Offers workflows to eliminate manual, inefficient processes.

·         Improves remote and mobile access and reduces overhead.

Eliminate unnecessary marketing spend

Continued marketing is especially vital in a tough economy, but it is equally important that it be targeted, and that the full marketing value of the Internet is harnessed. Nothing achieves this like Microsoft CRM4Legal.

 

CRM4Legal:

 

·         Allows marketers to create targeted lists and integrate campaigns and client events with practice groups and individual law firm partners.

·         Enables automation via online marketing programs, event registrations, newsletter subscription and statistical analysis – emails opened, click throughs, bounce backs etc.

Leverage existing IT investment/fits with your systems

Tight integration between Microsoft CRM4Legal and other familiar Microsoft tools, such as Microsoft Office, drives seamless interactions with existing applications and helps law firms avoid significant ongoing costs.

 

CRM4Legal:

 

·         Works the way your current technology works, so it fits easily into your existing systems, helping to maximise your current investments in Microsoft technology. The result is greater ROI.

·         Simplifies access to data due to tight integration with a broader suite of familiar Microsoft tools, including Microsoft Word, Microsoft Excel, Microsoft Office Communications Server and Microsoft Office SharePoint Server.

After more than two decades of arming its law firm customers with a competitive advantage, Client Profiles has established itself as one of the leading Microsoft consultancies worldwide.

From aligning law firms’ business and IT strategies and improving business processes to deploying and supporting solutions that accelerate business results, no other technology partner offers more comprehensive information technology solutions and services than Client Profiles. Last year alone saw CRM4Legal selected by law firms in 15 cities and 4 countries, totalling over 7,000 seats, including 2,000 seats in Europe.  Law firms around the world are turning to Client Profiles for strategic legal business solutions and consulting services.  Visit www.CRM4Legal.com to view our case studies and learn how to achieve more in the current economic climate.

Focus 2009: Year of the Client - get ahead with new CRM initiatives

Written by Candice Hill, Business Development Manager, Altair Computer Systems, New Zealand

This is an ideal time, while there are fewer projects on the go, for staff to prioritise scoping, implementation, training and roll-out of new client care initiatives.

If staff have less billable work output, and you are still paying base salaries (for support staff – full salaries, regardless of utilisation), then maximise this time to gather as much accurate information as possible on clients and prospects, update marketing lists, verify contact details/Christmas card lists, etc.   

Implementing a system like CRM4Legal will provide the repository for all of this information to be centrally stored.  I know of a large multi-national company that did this in a quiet time in the past and they had their staff busy finding out information such as spouse name, children’s names, birthdays, etc to put into their CRM system.

When things are busy again, will you be too busy to implement new client management systems?  Think of rollout, training, etc.   Will not being able to implement get you further and further away from your client management and maximising revenue goals? 

You can use CRM4Legal to help you create relationships that aren’t based on the immediate selling of your services, but when things pick up again, it will be your firm that has established strong relationships and a rich, accurate database to springboard from (it’s all about the long term view, but using this time to intelligently gear up for the inevitable good times when they roll on back).

When things are moving again, will you need to employ new lawyers to grow your firm?  Will CRM4Legal assist you in attracting good fee earners?  Will they see having CRM4Legal as an advantage to their own “practice within a practice”?  If you don’t have it, will other firms that have more robust CRM systems be of more interest to them?  CRM4Legal will need to be in place when things pick up in order to take advantage of this.

Are your major competitors taking the conservative road and putting all projects on hold?  If so, is this an ideal time to get ahead?  This benefit may not just be felt now, but for a significant time into the next growth period.

On the other hand – are your competitors using this time to quietly gear up themselves?  Can you afford not to be? 

CRM4Legal is all about finding out who your clients are, what you do for them, and how you can do more.  During these quieter times, this couldn’t be more important.  While most of the ideas addressed here focus on using this quiet time to gear up for when things are better, it shouldn’t be forgotten that the system will also help you right now.  It will help you retain clients, cross-sell a broader range of services, maximise earnings from clients, and secure new clients.

Even the most negative recession analysts say that the economic downturn will last approximately two years, nearly one year of which has already passed.  If we were to start a project in three months’ time, with a 6 month finance holiday, things should be almost turning around by the time the first monthly payment is due on the system.  However, the system will be all ready to go, the database will be clean and accurate, and the staff all trained in order to take advantage of the upturn in business.  On this basis, it may be possible to start this project much sooner than you otherwise think, even if all new projects are on hold, based on a decision to limit capital expenditure.  That is, it may be nearly a year before any expenditure is necessary.  Conversely, if we were to wait until the next growth period before even beginning to evaluate new CRM tools, then there may be a year, or even more, of the new growth period without the benefit of having CRM4Legal.