Legal CRM Strategy Corner

Seeing The Wind…(And What to Do About It)

Posted by David

It doesn’t take too clever a strategist to understand the effect of economic downturn and the need for adjusting priorities in a firm.

In Michael’s last blog he asks how well have you prepared your team to compete?  Have you fitted your crew with the proper set of tools?  It may not be just a case of “catching the wind”, it may become more a case of firm survival.

For some years now, business coaches have spoken about “doing more with less”.  With budgets tightening and client expectations rising, the push from on high is for accelerated marketing and business development outcomes.  The need is never greater than during a slowdown.

It is our view that law firms need to focus on three primary areas during a market downturn:

1. Deepening existing client relationships
2. Redoubling efforts to differentiate the firm
3. Building and using a good CRM system

Let me pose a few questions for your consideration:

What is the mood like at your firm?

What are you doing to maintain optimism?

Which practice areas or industry sectors are you focusing on?

Where are you focusing your resources?

How are your clients reacting to the downturn?

How do you cross-sell?

If you could successfully execute one thing this next 12 months, what would it be?

Open communication at all levels is a key to maintaining morale during these tougher times.  This applies equally to outside the firm as it does inside.

Now is surely a time to reposition and promote the firm along its strengths, and to become students of the clients' businesses. Build deeper relationships, offer just-in-time service, and grow your knowledge base. The first ones to do this will surely be the winners.

On a similar note, we encourage law firms to focus on stabilising their existing client relationships. Recommendations are to invest in knowledge management systems so that you can offer information that will bring more value to your clients' businesses.

Clients typically use a market slowdown to demand lower fees.  An alternative may be to offer clients more value for their fees by employing cost-saving technologies and giving clients additional services.  CRM software, like CRM4Legal, is only one leg in a three-legged stool. The other two legs include the processes that feed information into the system, and, a support base to develop and nurture the system --- directives that must have leadership and commitment from the firm's managing partners (the strategists in a professional services firm).

Coming back to the question: If you could successfully execute one thing this next 12 months, what would it be?

We have some suggestions:

1. Get back to communicating the bigger message of “Why us?”  Stand for something.  Find the “truth” behind your firm – talk about it, market it, promote it!
2. Take time with each client to get to know their business, and look for opportunities for your firm to provide other types of services.  Build your Client Relationship Management system.
3. Be that voice to management as to where the business is, and how to get it.  Use a Client Relationship Management system that will make a material difference.

More on that in future blogs.

Seeing The Wind…

Posted by Michael

Auckland, New Zealand: At the end of the first week in New Zealand’s launch of Microsoft CRM4Legal launch in Asia Pacific, following a host of amazing meetings with leading firms in Wellington and Auckland, I had the opportunity to participate in a “Rum Race” on the Tango, a racing sailboat, in Auckland Harbor.

With a boat filled with novice guests, safety was clearly the most critical aspect of the day.  However, throughout the course of the afternoon, pride played a part in the crews mind as they “safely” attempted to out maneuver the other racers.  It was amazing to see the choreography of the crew as they worked as one to maneuver the course at top speed, with the other racers in close quarters, to maximize the sail trim (keeping the sails full.)

The criticality of their choreography came very clear to me in discussions later with the crew, as each boat is essentially identical in structure, the team success is entirely dependent on the strategy employed, the execution tactics and the ability of the Strategist (standing beside the captain) to “see the wind” and direct the captain to it.  It is not about the boat, it’s about the crew working together to achieve success.

Speaking a language I will refer to as sailingese, still a mystery to me in many respects, they explained the many key indicators available to see the wind.  Once they see the wind, they need to execute the basics brilliantly.  In this moment, I got it and correlate to what we do as law firm professionals.

Assuming we all have “the same boat”, consisting of great lawyers, loyal staff and a common direction, supported by technology to assist in execution, the success variable consists primarily in how well the Strategist can see the wind and anticipate the ever changing market conditions in which we operate.

This language I understand!  If you consider the strategist in a professional services firm to be the staff directors and key partners, how well they use the key indicators available to them will ultimately determine success.  Capturing expertise data, financial data, business and competitive intelligence, client and prospect data in a central location to be revealed and mined for key web of relationship intelligence and other client buying patterns, allows the firm crew to maximize “seeing the wind.” After sailing the CRM waters for many years, it is particularly inspiring to know we have created a paradigm for success with our approach to CRM.

As the key strategist in your firm, how well have you prepared your team to compete?  Have you fitted your crew with the proper set of tools? Or are you struggling with your execution and relationship based data?  Have you positioned your firm to “catch the wind”?

At the core of this is execution, more to follow on Seeing the Wind part II…

It all works better together with CRM4Legal

Posted by David
In Michael’s last blog he asks the question – “Who needs CRM anyway?”.

For a law firm that wants to grow and succeed, few things matter more than connecting with clients.  It is true that adopting CRM (Client Relationship Management) software has been difficult for many firms.  CRM software can be complex and difficult to learn.  Staff can sometimes even resist adopting CRM software because it forces change in their work routines.

Client Profiles however has changed all that—bringing CRM software into a new era with Microsoft Dynamics CRM4Legal.  It is a flexible CRM solution that works the way a firm works, adapting to each law firm culture with its unique way of responding to client needs.  Importantly, CRM4Legal integrates well with Microsoft Office programs, including Microsoft Office Outlook, Microsoft Office Word, Microsoft Office Excel, and powerful data-sharing tools such as Microsoft SharePoint and Microsoft SQL Server Reporting Services.

So how does CRM4Legal differentiate itself?

The answer can be summarised as follows:

Microsoft Dynamics CRM4Legal works with your existing Microsoft Office programs.  Microsoft Office is the essential business tool used by millions worldwide.  Now Microsoft Office programs can be combined with the power of Microsoft Dynamics CRM4Legal to give any law firm new insights into client needs.

The Microsoft Outlook messaging and collaboration client already provides law firms with a reliable tool for communicating with clients, storing client company and contact information, and scheduling appointments.  Now Outlook can do more.  With the CRM4Legal Outlook client in CRM4Legal, all client information can be managed from Microsoft Outlook.  Business development, opportunity information, marketing newsletters and events—everything you need to stay connected with clients.  And because this information can be available firm-wide, all staff from partners to associates to lawyers, paralegals, assistants and clerks have the power to see client histories and respond effectively to questions and requests.

Microsoft Dynamics CRM4Legal works the way your firm works.  Microsoft Dynamics CRM4Legal can be tailored to meet almost any situation.  So a law firm doesn't have to change the way it operates to reap the benefits of a powerful CRM program.

CRM4Legal can help a law firm in many practical ways.  Some of these include the ability to tailor forms and data to specific firm needs, automate business processes with Windows Workflow Foundation, gain a better view of client needs through advanced relationship intelligence, give partners a quick look from a dashboard providing quick summaries of all key performance metrics.

Work comes first, not technology.  As powerful as Microsoft Dynamics CRM4Legal is, it does not get in the way of daily law firm tasks.  Because CRM4Legal is designed with the familiar user interface of Microsoft Office products, even new tasks are mastered quickly.  And Microsoft Dynamics CRM4Legal has streamlined installation processes and improved troubleshooting tools to help ensure that a law firm is up and operating fast—and stays that way.

CRM4Legal offers the latest in security features.  Client, contact, matter and related information is guarded with a fail-safe system that offers the best safety and confidentiality possible.  Overall, CRM4Legal offers law firms a complete client management tool, helping to find a new level of success through high-quality client care.  And Microsoft technology is your assurance for an affordable, effective CRM solution with demonstrable user adoption and return on investment.