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Trends in Legal CRM and ERM
Jennifer SmutsDirector of MarketingConnolly Bove Lodge & Hutz LLP
John VeldkampBusiness Development Systems ManagerLatham & Watkins LLP
Susan BrelusChief Development OfficerSquire, Sanders & Dempsey L.L.P.
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Survey Says …
1. Responses from firms with:
– 49 or fewer lawyers 15% – 50-149 lawyers 50%
– 150-349 lawyers 20% – 350-699 lawyers 10%
– 700+ lawyers 10%
2. 75% respondents have CRM (InterAction, ContactEase)
3. 10% respondents have ERM (InterAction, ContactNet)
4. 35% respondents affected by budget constraints
5. Seasoned CRM users, immature ERM users
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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
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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
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CRM, ERM, “XYZ”RM … What Does It All Mean?
image provided by Andrew Kazmierski
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The Right Software Depends on the Firm’s Goals
Consolidate information about client relationships
and interaction
Capture, search and analyze firm
relationship data
CRM ERM
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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 Primarily onsite at the firm
Pricing model Primarily licensed; occasionally subscription Primarily subscription
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CRM - Basic Contact Information
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CRM - Relationships & Touch Points
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CRM – Sample “Taxicab” Report
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CRM – Background Information
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Data sources: Email Logs, Address Books, T&B, PhoneData sources: Email Logs, Address Books, T&B, Phone
ERM
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View a targeted segment of your market ranked by relationship strength – for example, “Relationships to the Fortune 500”
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? Who holds strong relationships in each company?
Which of the F500 might make a good prospect?
Which of the F500 might make a good prospect?
ERM – Next Generation Analytics
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ERM – Next Generation Analytics
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12,500400,000
1,200,000
Total Direct Relationships Available to a 1,000-Lawyer Firm (as of 10/1/2009)
Relationship Capture: An Example
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ERM CRM In 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?
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CRM ERM
Contact Manager by Hubbard One BranchIt by BranchIt Corp
ContactEase by Cole Valley ContactNet by Hubbard One
CRM4Legal by Client Profiles / Microsoft Relationship Discovery by Cole Valley
IntelliPad by Versys Corporation InterAction IQ by LexisNexis
InterAction by LexisNexis
Examples of Products in Use
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Evaluating Your Needs
• Requirements / challenges
• Budget / resources / staffing
• Privacy / security
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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?
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Contact Information
Jenn SmutsDirector of MarketingConnolly Bove Lodge & Hutz [email protected]
Susan BrelusChief Development OfficerSquire, Sanders & Dempsey [email protected]
John VeldkampBusiness Development Systems ManagerLatham & Watkins [email protected]
