Professional Services

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13 Nov: 9 Law Firm Marketing Strategies and Tactics From Leading Industry Insiders

Prior to 2008, the legal market was experiencing a 4-6% annual growth in demand. Today, the demand for legal services has stalled at 0%, according to the Thomson Reuters’ 2018 Report on the State of the Legal Market. Combine this with the fact that an HBR Consulting survey found that corporate clients have increased their internal legal spend by 4% to cut outside counsel costs, and it appears as though independent law firms are losing their share of the market.

But the good news is, with the right strategic focus and insight, your law firm can stem the tide, raise…

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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…

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11 Sep: 9 Experts Weigh-In on How to Maximize Business Development for Professional Services Firms

There are a number of growing variables in the professional services industry today that are impacting growth strategies; increasing competition, decreasing service demand, and disruptive technology. A whopping 79% of management consulting firms say they’re struggling to attract and develop new business in today’s ever-changing landscape. And that means your business development team is in the hot seat.

As a leader in your organization, you know what needs to be done to grow revenue. But it’s how to do it and how to do it well that are hard to pin down.

You know your existing clients hold seemingly…

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10 Sep: Helping Businesses Understand Their Relationship Capital

The B2B sales cycle today is complex, demanding more from the sales teams that are responsible for them. In fact, the average B2B sales team needs to engage 6.8 stakeholders and nurture them for an average of 84 days. And depending on your industry, those averages are higher.

With growing pressure on firms to perform and improve their sales process, market-leaders are turning to new technologies like artificial intelligence, machine learning, and advanced analytics to gain enhanced insights that enable more informed decision making.

But what are those new technologies and how can they help?

We recently spoke with Digital…

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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…

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21 Aug: The 3 Q’s of Data Management for Professional Services Firms

According to the International Data Corporation (IDC), worldwide revenues for big data and analytics will reach $203 billion by 2020. Of the industries that are investing in big data and analytics solutions, professional and financial services firms are making the largest investments.

The increase of spending into big data and analytics solutions shows that today’s professional services firms understand the need for quality data and the impact poor data can have on their firm. One of the most common investments professional services firms make to collect their contact data is in a customer relationship management (CRM) system.

However, simply having…

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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…

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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…

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18 Apr: How Professional Services Firms Can Increase Their Technology ROI

A few weeks ago I had a chance to spend some time with my team in our new Chicago office. If you know Chicago, it’s a great city with great people, great food, and a strong business community.  We flew the team in so that we could put some focus on new hire onboarding, strategic planning and, of course, our clients.

At one point during the week, we spent some time whiteboarding strategy for some great new product features that we’ll be releasing in Q2 (stay tuned!), sales operations, and general sales/marketing practices.

But as we poured through ideas and…