Legal

#

30 Oct: 2018 LMA and Bloomberg Law Study: 4 Legal Marketing Trends That Spell Success

The latest Bloomberg Law and the Legal Marketing Association study has found that 62% of law firms are increasing their focus on marketing and business development. From greater internal pressure to generate revenue to corporate counsel reducing the number of firms they’ll work with to other firms becoming more sophisticated marketers, firms are looking to their marketing and business development teams to help.

Image credit: Bloomberg Law & LMA Research Study 2018

For legal marketers and business development professionals, this is great news. Whereas law firms and their attorneys have been traditionally focused on legal services, counsel, and the day-to-day…

#

09 Oct: Osler, Hoskin & Harcourt LLP Invests in Relationship Intelligence Automation to Deliver Superior Client Experiences

Osler, Hoskin & Harcourt LLP, a leader in Canadian business law, launched a new suite of services from Introhive, the leader in relationship intelligence and CRM automation for the legal industry.

Over a five-year partnership, Osler has worked with Introhive to develop cutting-edge solutions that would enable the firm to better meet its clients’ legal and business needs. The partnership was created to support the firm’s commitment to finding new and better ways to deliver world-class client experiences.

This latest evolution in Osler’s innovation roadmap will allow the firm to gain deeper insight into its relationship intelligence and…

#

30 Aug: Top 5 Takeaways From David Ackert’s State of CRM at Law Firms 2018 Study

The usage of Customer Relationship Management (CRM) technology in the legal sector is growing rapidly. For firms in today’s economy to stay competitive, they need to create a single source of truth for all business development and client management within the firm. But in order to get the most business value from a CRM deployment, it’s important to stay informed of the latest best practices, trends, and innovation taking place in industry.

Fortunately, Ackert Inc. conducts an annual market-wide study on the State of CRM at Law Firms that highlights how law firms are using their CRM and other complimentary…

#

19 Jun: How to Measure and Manage Your Law Firm’s Relationship Capital

The three types of intellectual capital which make up the intangible value of a business are its people (human capital), everything that is left when these people go home (structural capital), and the value inherent in its relationships (relational capital).

One of the most valuable assets your law firm has are its relationships. The network of people and companies that represent your leadership team, board, clients, intermediaries, partners, suppliers, and employees constitute your relationship capital. These relationships underpin other types of capital, for example your firm’s reputation, brand, and intellectual property.

However, unlike other forms of capital (think financial…

#

05 Jun: McCarthy Tétrault Drives Superior Client Service and Improves Collaboration Through Innovation

Technology is an essential tool. But whether it’s helping us email a client, book an appointment, or record account details, technology is only helpful as long as it’s used and valued.

This is the premise that McCarthy Tétrault, a leading Canadian law firm, uses when approaching their own innovation strategies. The end result is technological innovation that drives cultural and digital transformation and provides their lawyers with solutions that help them better service their clients, improve team collaboration, and understand their relationships.

For greater insight into how McCarthy Tétrault is driving innovation at their firm, we recently spoke with Nick…

#

01 May: 5 Top Takeaways From Ackert’s 2018 Legal Business Development Trends Study

According the Thomson Reuter’s 2018 State of the Legal Market, demand for legal services has stagnated, creating a struggle for firms to earn new business and stay profitable. To maintain profitability, firms typically take one of two avenues. They either take a traditional route, increasing rates and slashing expenses, or they break away from the traditional and invest more heavily in business development strategies. The report found that the latter achieves stronger growth.

So, what are those business development strategies and which ones generate the most revenue?

That’s what David Ackert, President of Ackert Inc., wanted to find out in…

#

26 Apr: [Infographic] 7 Key Takeaways From the 2018 LMA Annual Conference

This year’s 2018 LMA Annual Conference in New Orleans saw some of best legal marketing professionals come together to network, discover new technologies, learn leading business development strategies, and stay informed of what’s happening in the industry. As a result, the 2018 LMA Annual Conference had several key takeaways for legal marketers and business development professionals alike.

With sessions ranging from social media to competitive intelligence, there was a lot of ground being covered at LMA. To help summarize some of the conference highlights, we put together a detailed infographic covering the key takeaways that stood out to us the most….

#

09 Apr: The No. 1 Legal Trend to Look Out for at the 2018 LMA Annual Conference

It’s no secret that law firms face a unique myriad of sales, marketing, and business development challenges. With lawyers who are quick to remind others that sales is not a part of their job, reaching sales objectives is hard to come by. Couple that with the fact that the demand for legal services has remained flat over the years, and you have a recipe for a market that results in mergers and acquisitions for growth instead of sales and business development strategies.

This needs to change.

However, change can’t be reached without deeper client insights that allow for stronger client…

#

14 Mar: How to Form a CRM Implementation Plan That Drives Adoption

Your CRM implementation might fail. Let that sink in for a second.

It’s a scary realization after investing significant time and money into researching, selecting, and deploying a solution. Research has shown that on the high end, upwards of 70% of all CRM projects fail to meet desired expectations.

Here is a link to a handful of other CRM adoption statistics that will probably keep you up at night. If you don’t believe that stat, take a look at the graph below from a C5 Insight study.

Source: C5 Insight

So, enough talk about the daunting…