Digital White Papers

34 WWW.ILTANET.ORG | ILTA WHITE PAPER MARKETING AND BUSINESS DEVELOPMENT Proof of Experience: The Key to More Successful Pitches Experience Management Is Critical Today's competitive market for legal services has created an environment that favors the buyer. Law firms are being asked to respond to more request for proposals (RFPs), clients are reducing the number of firms they have on their panels and firms must pitch for work from existing clients that would previously have gone to the firm with lile to no scrutiny. More than anything else, prospects and clients want examples that prove the firm has the right experience and expertise to solve their unique problems. This fact is well-illustrated in "Results, Reputation and Relationships: What Professional Services Buyers Are Really Looking For," a recent report published by One North and Greentarget Global Group. The report indicates that when evaluating a new professional services firm, 88 percent of decision makers chose "past experience" over "promised results" when asked which aribute is more important. The report said that buyers "aren't looking to be "sold" or "wowed" but want to see tangible proof of legitimate experience in the specific field." RFPs are asking for specific information about the firm's experience and expertise. Last-minute pitch requests from partners require lists of past cases and deals that are similar to the exact work being pitched. To win, you must be able to respond quickly with complete and accurate information. You cannot afford to not have a solution in place. A Firmwide Challenge Marketing and business development teams are highly aware of the need for managing experience. They are asked to include proof of experience in proposals, RFPs, pitch decks, website content, directory submissions and other marketing materials. They clearly need a solution that delivers efficiency and quality. The scope of the challenge, however, extends to lawyers. They are the ones delivering pitches. Not all pitches are planned far in advance and involve marketing resources. When an opportunity arises, lawyers must be able to respond quickly to provide proof of experience and strike while the iron is hot. Selecting the Right Technology There are two technological components required to effectively deliver proof of experience and receive beer pitching outcomes. First, you need an experience management database you can easily search to find the past experience needed for successful pitches. Second, you need a proposal generation tool to efficiently create persuasive, firm-branded materials to support pitching efforts. Consider the following when evaluating technology options: » Build or Buy? Does your firm have the in-house resources to develop a viable solution, and will they be available to enhance and maintain it? Do third-party solutions have the functionality and flexibility to meet your firm's requirements? » Enterprise Solution or Marketing-Only Database? Will a marketing-only experience database deliver enough value, or do the additional benefits of integrating with data in other systems provide a compelling value proposition to your firm? When evaluating a new professional services firm, 88 percent of decision makers chose "past experience" over "promised results."

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