Best in class strategies for contact and relationship management
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Best in Class Strategies for Contact and Relationship Management Jonathan Pohl – Product Manager, ContactNet Kevin O’Brien – Manager, Solutions Strategy
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By leveraging a law firm’s network of relationships, marketing and business development departments can generate and win business with new and existing clients. It takes the right processes, people, technology and strategies to build these successful contact and relationship management systems. During this webinar, our business development experts – Jonathan Pohl and Kevin O’Brien – explored ways in which Enterprise Relationship Management (ERM) is evolving and improving long-standing weaknesses of data-entry-focused CRM. They shared ERM best practices from the industry’s leading law firms on implementation, adoption and usage, and data maintenance. Our experts also discussed Social CRM and its impact on the traditional CRM strategy. To view a recording of the webinar, visit http://www.hubbardone.com/best-in-class-strategies-for-contact-and-relationship-management.
Transcript of Best in class strategies for contact and relationship management
Best in Class Strategies for Contact and Relationship Management
Jonathan Pohl – Product Manager, ContactNet Kevin O’Brien – Manager, Solutions Strategy
Jonathan Pohl
Product Manager, ContactNet
408.524.4658
Kevin O’Brien
Manager, Solutions Strategy
978.897.2389
Introductions
“Professional services firms
today ‘see a bigger need for
integrations with CRM and their
front-end solutions. As work
comes in, they see the need to
integrate all the data earlier.’”
- SPI Research CRM Magazine
May 2012
“One of the key factors contributing
to [CRM] market growth is the
increasing importance of customer
experience management“
- Business Wire
The CRM Market – Observations
“The surge in service industry CRM
adoption underscores the increased
emphasis service organizations are placing
on selling and marketing. In the services
industry, more than in any other, customer
references are the lifeblood of sustainability
and growth”
- Destination CRM
“Law firms are using new IT
to better understand clients,
whether it’s BD technology,
business intelligence or social
media sniffing”
- Briefing
NLJ CRM Adoption Statistics
• CRM purchase rate consistently near top of ILTA Tech Purchase list
between 2010 and 2011 (scores of 11 and 10, respectively)
• 2010 ILTA Tech Survey: < 50% of lawyers actually use CRM once
implemented
• Email management tops IT’s issues list for 2011 (as it has since 2008)
Law firms continue to invest in CRM even as
users adopt new hardware (mobile) and
paradigms (social).
CRM and the Law Firm: 2012
Four Key Take-aways:
1. CRM in legal lags other industries, but the gap is narrowing as
more and more firms implement it.
2. Collaboration and adoption is foundational to CRM success.
3. Users are increasingly engaging with the “social web”; CRM
needs to do so as well.
4. Success in any of these areas relies upon low-effort, high-
accuracy data management.
Never 61%
< 1 year 17%
1-3 years 12%
>3 years 10%
CRM Contacts: Date of Last Email
Little Known Facts About Your Organization’s Contacts
You aren’t talking to most of the contacts in
your CRM system
83% of contacts not
emailed in over a year
61% of contacts never
emailed
Source: ContactNet client Analysis
Not in CRM 73%
in CRM 27%
Contacts Emailed in Past Year
Little Known Facts About Your Organization’s Contacts
Your CRM system is not keeping up with
revenue-driving activities.
73% of contacts never
entered into CRM
Source: ContactNet client Analysis
There’s a Better Way
All contacts
Contacts for a specific practice area
Practice area’s top contacts
The right contacts
Determine Your Ideal State
• What are our business needs?
– Better serve clients?
– Grow new business?
– Tactical needs (e.g. mailing, event, etc.)?
• What contacts matter?
– Decision Makers?
– General Counsel?
– C-Level/Executives?
– Others?
• How do we prioritize those contacts?
– Completeness?
– Last email?
– Strength of relationship?
– Last website visit?
Client Case Study: Haight Brown
Business needs?
• Needed to announce office relocation
• Only 10 weeks to prepare mailing
• Had to juggle other projects at the same time
• Needed solution that was fast, complete, efficient
Which contacts fulfilled those needs?
• Established relationship with the firm
• LA and surrounding area
Results
• Successfully sent new office
announcement to almost 13,000
contacts
– Over 25% of the recipients,
read the exciting news
– Almost 5% click-through rate
to their website
– Less than 1% undeliverable
rate
Client Case Study: Haight Brown
6-Months Later
• Needed to communicate the
launch of their redesigned
website and announce their 75th
Anniversary
• Same process, same results
Client Case Study: Haight Brown
CRM Can’t Be an Island
It should be your customer data hub
What are the Primary Benefits of CRM Integration?
Source: “The State of Customer Data Integration 2012.” Scribe Software Corporation.
Creating Client Focused Conversations
Putting Customer Data Where It’s Needed Most
What are the Primary Benefits of CRM Integration?
Source: “The State of Customer Data Integration 2012.” Scribe Software Corporation.
Social CRM
Social CRM is the combination of the knowledge
and tools to build personal and social
relationships that result in business growth and
profits that are measurable and scalable
Social CRM
“Social CRM’ in a sense is just ‘CRM’ as it was intended to be by
academics and analysts during the past decade. CRM is a businesses
strategy and an approach not a technology…
The emphasis was on the ‘M’ for management rather than the ‘R’ for
relationship…”
– Gartner February 2012
Social CRM
Bridging the Gap: Conversations and Business Development
1. Know the message.
2. Understand the audience.
3. Capture the interaction.
Social CRM
Social CRM
Creating Client Centers
CRM just not displayed in a traditional CRM system…
Social CRM
Low-Effort, High-Accuracy Data Management
Signatures
3rd Party
Data
Providers
Zoominfo
Jigsaw
TR Contact
Authority
Address
Books
Name: Diane Glass
Email: [email protected]
Title: Chief Financial Officer
Company: Pepsico, Inc
Address: 700 Anderson Hill
Road Purchase, NY 10577
Phone: (914) 253-2000
Recap
Key Pillars of CRM
1. Collaboration is foundational to CRM success.
2. CRM platforms must now address the “social web”.
3. Success in any of these areas required accurate data, all the time.
Thank You. Questions?
Jonathan Pohl
Product Manager, ContactNet
408.524.4658
Kevin O’Brien
Manager, Solutions Strategy
978.897.2389
