In the race to win more business, many law firms have embraced CRM. But for too many, the investment isn’t advancing them fast enough.
Consider a study by the Legal Marketing Association and Bloomberg Law. They surveyed 172 business development and marketing professionals, and more than 100 partners. While 96% said they had or desired CRM, only 48% of marketers and 61% of business development professionals report using it. Cost, complexity, lack of effective integration and proper training were the most common reasons cited for not being able to use CRMs to their potential. Therefore, the study states that the full benefits of CRM technology aren’t being realized.
“The biggest hurdle to developing a useful, valuable CRM program is not the system, whether it’s Microsoft Dynamics, InterAction, Salesforce or OnePlace,” he insists. “The biggest hurdle is how to get quality data into the system in the most efficient manner; not only at the beginning, but on an ongoing basis.”
Jon is getting help in clearing that hurdle with the support of Introhive. Introhive works with Fenwick & West’s CRM to:
1. Save time while eliminating bad data, and making good data even better.
Throughout his career, Jon was challenged by CRM systems that would collect every contact, no matter how inaccurate or incomplete. He relates situations where attorneys would have as many as 10,000 contacts in their Outlook Contacts folders. Without manual quality control, all contacts would all end up in the CRM system.
“One of the biggest issues we had is that we simply did not want a lot of crummy data to be added to the system without some sort of check on it,” he says.
However, avoiding bad data would require attorneys and their secretaries to spend hours cleaning it, which is something the Fenwick CRM team couldn’t ask them to do. That’s where Introhive has proved invaluable. It allows staff to review and approve contacts and activities in a daily digest format, which then is automatically uploaded to the CRM.
“No one has to manually enter that information into the system, which saves countless hours and helps make sure that important data gets captured,” says Jon. “Beyond having the information uploaded upfront, ongoing data entry is much easier.”
Furthermore, Introhive enriches contact data with external information before it gets added to CRM.
“The data is reviewed and is better than it would have been had we just synchronized the information from Outlook directly,” notes Jon. “That saves time and increases the quality and user confidence in the data.”
Jon says the time and resources this has saved his firm is “very significant, we wouldn’t be able to effectively add quality data to the system without a tool like Introhive.”
2. Automatically extract data from email communication.
“Attorneys and secretaries live in Outlook – creating emails, contacts, appointments and meeting requests,” Jon explains. “So there’s a wealth of information that exists in our Exchange environment. To create a useful repository of contact relationship information, you have to be able to integrate that valuable data with CRM.”
Introhive’s native feature set automatically accomplishes this, allowing us to capture “a treasure trove of information that is absolutely valuable for networking and business development,” says Jon.
3. Instantly see relationships across the firm.
Introhive enhances firm-wide communication and collaboration by providing an email digest outlining client and prospect relationships and activities. Since deploying Introhive, this has already proven its worth at Fenwick & West. A partner was calling on a prospect and received an Introhive digest of the prospect’s relationships in the system. The digest revealed that another partner had a relationship with the prospect.
“This insight provided a potential cross-practice collaboration between our litigation and corporate practice groups,” explains Jon. “Introhive is continually uncovering relationship knowledge that gives us a better handle about who-knows-whom and recent activity information about our contacts.”
4. Optimize networking.
Fenwick leverages Introhive to prioritize and optimize attorney networking efforts in the CRM system. As contacts and activities are added to the system, the information is mined to help attorneys touch base with key clients and prospects.
“This methodical, data-driven process regularly provides the nudging partners need to make sure they keep networking efforts on track,” says Jon. “Through minimal effort on their part, activity data is used to help them focus their networking on their most important contacts – enabling them to use their time effectively.
“We have already realized successes through the program, and have noticed efficiencies in how attorneys spend their time networking.”
It’s no wonder Jon thinks Introhive is critical for firms that want to drive the highest return on their CRM investment.
“I think that any firm that wants to invest in CRM has to leverage automation tools to get the best return on investment and highest level of success,” he asserts. “From the very beginning we had to solve the problem of efficiently getting the right contact and activity information into our CRM database. Not having a tool like Introhive to solve this problem was a non-starter for us.
“For us, Introhive was a modest investment,” he continues. “And the return on investment, and return value that we’re getting is very much worth the cost.”
Are you ready to get the highest return on your CRM investment? Set aside about 15 minutes to see how Introhive would work for your firm. Schedule a demo today.