Intelligence Driven Client Development

Intelligence-Driven Client Development

• Law firm’s house vast amounts of client and market information that can help legal marketers drive better marketing and business development decisions. During this session, we’ll look how firms can make sense of this immense amount of information and turn it into actionable intelligence. Explore innovative ways of bringing together and leveraging information from business and competitive intelligence programs, relationship management applications, and other valuable information sources to enable strategic decision-making.

Overview Slide

Intelligence-Driven Client DevelopmentPatrick FullerManaging Account Director, Competitive Intelligence

Vinnie ScarinciManaging Account Director, ERM & CRM

What a long strange trip it’s been……..

Source: Reuters.com

Peer Monitor Economic Index (PMI)

2011 Q2 PMI Score: 62 An increase of 5 points over Q4 2010, second consecutive quarterly gain

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q230

35

40

45

50

55

60

65

70

75

80

PMI Q2 2011 Analysis

The New “Normal” For Law Firms

Never-before seen Market Complexity

Increased Market Competition

Increasing Competition

From The Client

Growing influence of

LPO

Pushback on rates & lower

realization

Barriers to charging back

costs

More requests for alternative

fees

Attorney & Staff

reductions

Cross-border activities requiring enhanced collaboration tools

The increasing war for talent

The ACC Value Challenge

How Can Technology Help?

Source: Gartner

But Just Don’t Take Gartner’s Word for it…….

Actionable Intelligence to Make a Difference

Source: Reuters.com

ContactNetAnalytics

MonitorOpportunity

Finder

OneViewFoundation

MonitorCase

Outcomes

Never-b

efore seen

Market C

om

plexity

Increased

Market

Co

mp

etition

Increasin

g

Co

mp

etition

Fro

m T

he

Clien

t

Gro

win

g

influ

ence o

f

LP

O

Pu

shb

ack on

rates & lo

wer

realization

Barriers to

charg

ing

back

costs

Mo

re requ

ests

for altern

ative

fees

Atto

rney &

Staff

redu

ction

s

Cro

ss-bo

rder activities req

uirin

g

enh

anced

collab

oratio

n to

ols

Th

e increasin

g

war fo

r talent

Th

e AC

C V

alue

Ch

alleng

e

How Do We Gain an Advantage?

In Search Of Lost Time: The View of a French Essayist

Do you see opportunities the competition doesn’t see?

The real act of discovery consists not in finding new lands but in seeing with new eyes.

- Marcel Proust

A Formula Business Growth:

Differentiation

Need (Known & Unknown)

Demand

+

X

Applying Growth in 2012

New Markets Mergers

Clients Laterals

GROWTH SCENARIO: NEW MARKETS

• Scenario: Our partners, along with an outside consultant, have decided part of our strategic growth plan will include expansion into at least one new domestic market.

• Goal: Identify potential markets based upon activity of current clients, cost of doing business, potential for business development, demand trends, litigation market complexity, competitive landscape, our existing relationships, and overall business climate

Growth Scenario: New Markets








GROWTH SCENARIO: CLIENTS

• Scenario: The firm desires to expand its footprint with a strategic client. The attorneys wish to come to the table with a compelling story to around the services that they are delivering to the client.

• Goal: Create differentiation around competitive efficiency & effectiveness

Growth Scenario: Clients




GROWTH SCENARIO: MERGER

Relationship George vs. Independent George: Worlds Collide

A George divided against itself cannot stand!

The essence of creativity is figuring out how to use what you already know in order to go beyond what you already think.

- Dr. Jerome Bruner (Psychologist)

Scenario: The firm(s) desires to merge with another firm based on specific strategic goals. The attorneys wish understand the impact on clients and prospects they have been working on for years.

Goal: Reach beyond existing demand to create and capture new demand

Growth Scenario: Merger


Growth Scenario: Merger (Benchmarking View)

33


A Single Firm View


A Single Firm View

A Single Firm View



GROWTH SCENARIO: LATERALS

Growth Scenario: Laterals

Scenario: The firm(s) desires to merge with another firm based on specific strategic goals. The attorneys wish understand the impact on clients and prospects they have been working on for years.

Goal: Solidify growth in a geography, industry, service or client area





Creating Successful

On-boarding

Creating a Competitive Edge: Laterals

Create an “internal map” to their contacts and firms’ existing relationships.

“Are you learning as fast as the world is changing?”

– Gary Hamel, Author: Competing For The Future

Questions?

THANK YOU! Patrick FullerManaging Account Director, Competitive Intelligence

Vinnie ScarinciManaging Account Director, ERM & CRM