Presentation on theme: "1 Trends in Legal CRM and ERM Jennifer Smuts Director of Marketing Connolly Bove Lodge & Hutz LLP John Veldkamp Business Development Systems Manager Latham."— Presentation transcript:
1 Trends in Legal CRM and ERM Jennifer Smuts Director of Marketing Connolly Bove Lodge & Hutz LLP John Veldkamp Business Development Systems Manager Latham & Watkins LLP Susan Brelus Chief Development Officer Squire, Sanders & Dempsey L.L.P.
3 Top Challenges … 1.Buy-in, implementation, management 2.Lack of resources, qualified data stewards 3.Data integration (silos), segmentation (top clients, NAICS/SIC, demographics) 4.Budget restrictions 5.Inability to source ideal system 6.Advancing marketings position, best way to use data
4 You Say, I Want to Know … 1.Strategies for adoption, implementation, cultural hurdles. Value in hiring consultant? 2.How does ERM complement CRM? 3.Reports/tracking you get from CRM/ERM 4.What advanced users have been doing, integration 5.Utilization of practice management systems 6.Case studies
5 CRM, ERM, XYZRM … What Does It All Mean? image provided by Andrew Kazmierski
6 The Right Software Depends on the Firms Goals Consolidate information about client relationships and interaction Capture, search and analyze firm relationship data CRM ERM
7 Business Benefits Compared CriteriaCRMERM Value / benefits Client service, activity tracking, relationship management Who do we know and how well do we know them?, and related analytics Data entry / resource requirements Heavy / ModerateMinimal Communication / training required Heavy / ModerateMinimal Methods of hostingPrimarily onsite at the firm Pricing model Primarily licensed; occasionally subscription Primarily subscription
8 CRM - Basic Contact Information
9 CRM - Relationships & Touch Points
10 CRM – Sample Taxicab Report
11 CRM – Background Information
12 Data sources: Logs, Address Books, T&B, Phone ERM
13 View a targeted segment of your market ranked by relationship strength – for example, Relationships to the Fortune 500 Who holds strong relationships in each company? Which of the F500 might make a good prospect? ERM – Next Generation Analytics
14 ERM – Next Generation Analytics
15 Total Direct Relationships Available to a 1,000-Lawyer Firm (as of 10/1/2009) Relationship Capture: An Example
16 ERM CRMIn CRM: Add 2-4x more relationships View relationships by strength vs. alphabetically CRM ERM In ERM: Add contacts and relationships where address book is not completely synced with CRM Enhance ERM relationship score based on CRM activities Provide a more complete map of relationships for search and analysis ERM/CRM integrations are on the rise … 10x increase 2009 vs. 2008, Now 30% of ERM installations The Union of CRM and ERM?
17 CRMERM Contact Manager by Hubbard OneBranchIt by BranchIt Corp ContactEase by Cole ValleyContactNet by Hubbard One CRM4Legal by Client Profiles / MicrosoftRelationship Discovery by Cole Valley IntelliPad by Versys CorporationInterAction IQ by LexisNexis InterAction by LexisNexis Examples of Products in Use
19 Questions to Answer What is the most important reason to implement CRM? How is that communicated to stakeholders? What formula can a law firm use to determine ROI on CRM / ERM? Metrics? Quantifiable, verifiable? Whats the biggest selling point of a CRM system? How do these systems make our jobs easier? How do you sell these systems to management? How do these systems complement each other? What are the similarities / differences between CRM / ERM and how do they separately / together enhance an attorneys business?
20 Contact Information Jenn Smuts Director of Marketing Connolly Bove Lodge & Hutz LLP Susan Brelus Chief Development Officer Squire, Sanders & Dempsey L.L.P John Veldkamp Business Development Systems Manager Latham & Watkins LLP