Trends in Legal CRM and ERM Susan Brelus Chief Development Officer Squire, Sanders & Dempsey L. L. P. John Veldkamp Business Development Systems Manager Latham & Watkins LLP Jennifer Smuts Director of Marketing Connolly Bove Lodge & Hutz LLP 1
Survey Says … 1. Responses from firms with: – 49 or fewer lawyers 15% – 150 -349 lawyers 20% – 50 -149 lawyers 50% – 350 -699 lawyers 10% – 700+ lawyers 10% 2. 75% respondents have CRM (Inter. Action, Contact. Ease) 3. 10% respondents have ERM (Inter. Action, Contact. Net) 4. 35% respondents affected by budget constraints 5. Seasoned CRM users, immature ERM users 2
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 marketing’s position, best way to use data 3
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 4
CRM, ERM, “XYZ”RM … What Does It All Mean? image provided by Andrew Kazmierski 5
The Right Software Depends on the Firm’s Goals CRM Consolidate information about client relationships and interaction ERM Capture, search and analyze firm relationship data 6
Business Benefits Compared Criteria CRM ERM 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 / Moderate Minimal Communication / training required Heavy / Moderate Minimal Methods of ‘hosting’ Primarily onsite at the firm Pricing model Primarily licensed; occasionally subscription Primarily subscription 7
CRM - Basic Contact Information 8
CRM - Relationships & Touch Points 9
CRM – Sample “Taxicab” Report 10
CRM – Background Information 11
ERM Data sources: Email Logs, Address Books, T&B, Phone 12
ERM – Next Generation Analytics 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? 13 Which of the F 500 might make a good prospect? 13
ERM – Next Generation Analytics 14
Relationship Capture: An Example Total Direct Relationships Available to a 1, 000 -Lawyer Firm (as of 10/1/2009) 1, 200, 000 400, 000 12, 500 15
The Union of CRM and ERM? ERM CRM In CRM: • Add 2 -4 x 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 … 10 x increase 2009 vs. 2008, Now 30% of ERM installations 16
Examples of Products in Use CRM ERM Contact Manager by Hubbard One Branch. It by Branch. It Corp Contact. Ease by Cole Valley Contact. Net by Hubbard One CRM 4 Legal by Client Profiles / Microsoft Relationship Discovery by Cole Valley Intelli. Pad by Versys Corporation Inter. Action IQ by Lexis. Nexis Inter. Action by Lexis. Nexis 17
Evaluating Your Needs • Requirements / challenges • Budget / resources / staffing • Privacy / security 18
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? • What’s 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 attorney’s business? 19
Contact Information Susan Brelus Chief Development Officer Squire, Sanders & Dempsey L. L. P. 216 -479 -8243 sbrelus@ssd. com John Veldkamp Business Development Systems Manager Latham & Watkins LLP 650 -463 -3026 john. veldkamp@lw. com Jenn Smuts Director of Marketing Connolly Bove Lodge & Hutz LLP 302 -888 -6214 jsmuts@cblh. com 20
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