Digital White Papers

27 WWW.ILTANET.ORG | ILTA WHITE PAPER MARKETING AND BUSINESS DEVELOPMENT Get Smart: The Future of CRM, and the CRM of the Future blocks of aorney emails. This information can then be used to create new contact records in the database or validate the data quality of existing contacts in the system, under the assumption that a signature block likely is one of the best sources of current and correct contact information. Opportunity Pipelines: For years, other types of professional services firms have purchased CRM systems to track sales and business development opportunities. Law firms have been late to the game on adopting this functionality. Only in the last few years have firms been interested in acquiring this type of pipeline soware to allow them to track details related to pitches, proposals and request for proposals (RFPs). These tools can capture key data such as opportunity types, related offices and practices, responsible aorneys, and relevant activities. They can also keep track of important dates and set reminders for follow-up tasks. With the right information input, pipelines can also allow firms to evaluate success rates and predict revenue. Business Card Scanning: Due to the competitive nature of today's legal market, many aorneys now also focus on business development. Any tool that will allow them to enter contact details more quickly and easily can enhance adoption. Built-in business card scanners allow aorneys to add contacts via a mobile device while they are at a conference or business meeting with a client or prospect. Company and Industry Data Enhancement: As competition for business has become extreme, it has also become crucial for lawyers to really get to know their clients and prospects. They have to gain a deeper understanding of their clients' businesses and industries. To facilitate this, some CRM providers have begun enhancing the data in their systems with business and industry information on key companies and individuals. As an added benefit, enhancing the CRM information with competitive intelligence can also drive system utilization by aorneys. The Future of CRM While there have been many advancements in CRM tools and technology, CRM success is also about people and process. In addition, almost no other technology in a law firm requires such a high level of change management. While the future of CRM might be uncertain, it is clear that future success will depend on law firms effectively dealing with the following issues and challenges: Planning: The beauty of a CRM tool is that it can do a thousand things. The problem with a CRM tool is that it can do a thousand things — but it probably should do only three or four, and those might vary by firm, practice group or aorney. This means CRM success requires a plan. Planning should begin with an assessment of firm and aorney needs before the selection or implementation of the technology. Long-term planning is essential aer the rollout because a CRM system should be a core component of the firm's ongoing marketing and business development strategy. Securing Buy-In: Until recently, aorneys sharing contacts was essential to CRM success, so geing their buy-in was critical. To gain buy-in, aorneys needed to be convinced there was value in the system — not just for the firm, but also for them personally. Participation from assistants was also important because they frequently manage the contacts. Nowadays, key system users should Provide attorneys with brief training sessions in their offices utilizing their own contacts and work scenarios to demonstrate the value of the system.

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