Trends in Legal CRM and ERM

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Trends in Legal CRM and ERM
John Veldkamp Business Development Systems
ManagerLatham Watkins LLP
Susan BrelusChief Development OfficerSquire,
Sanders Dempsey L.L.P.
Jennifer Smuts Director of Marketing Connolly
Bove Lodge Hutz LLP
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Survey Says

• Responses from firms with
• 49 or fewer lawyers 15 50-149 lawyers
  50
• 150-349 lawyers 20 350-699 lawyers 10
• 700 lawyers 10
• 75 respondents have CRM (InterAction,
  ContactEase)
• 10 respondents have ERM (InterAction,
  ContactNet)
• 35 respondents affected by budget constraints
• Seasoned CRM users, immature ERM users

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Top Challenges

1. Buy-in, implementation, management
2. Lack of resources, qualified data stewards
3. Data integration (silos), segmentation (top
   clients, NAICS/SIC, demographics)
4. Budget restrictions
5. Inability to source ideal system
6. Advancing marketings position, best way to use
   data

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You Say, I Want to Know

• Strategies for adoption, implementation, cultural
  hurdles. Value in hiring consultant?
• How does ERM complement CRM?
• Reports/tracking you get from CRM/ERM
• What advanced users have been doing, integration
• Utilization of practice management systems
• Case studies

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CRM, ERM, XYZRM What Does It All Mean?
image provided by Andrew Kazmierski
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The Right Software Depends on the Firms Goals
CRM
ERM
Capture, search and analyze firm relationship
data
Consolidate information about client
relationships and interaction
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Business Benefits Compared
Criteria CRM ERM
Value / benefits Client service, activity tracking, relationship management Who do we know and how well do we know them?, and related analytics
Data entry / resource requirements Heavy / Moderate Minimal
Communication / training required Heavy / Moderate Minimal
Methods of hosting Primarily onsite at the firm Primarily onsite at the firm
Pricing model Primarily licensed occasionally subscription Primarily subscription
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CRM - Basic Contact Information
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CRM - Relationships Touch Points
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CRM Sample Taxicab Report
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CRM Background Information
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ERM
Data sources Email Logs, Address Books, TB,
Phone
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ERM Next Generation Analytics
View a targeted segment of your market ranked by
relationship strength for example,
Relationships to the Fortune 500
Which of the F500 might make a good prospect?
Who holds strong relationships in each company?
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ERM Next Generation Analytics
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Relationship Capture An Example
Total Direct Relationships Available to a
1,000-Lawyer Firm (as of 10/1/2009)
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The Union of CRM and ERM?
ERM CRM In CRM Add 2-4x more relationships View relationships by strength vs. alphabetically
CRM ERM In ERM Add contacts and relationships where address book is not completely synced with CRM Enhance ERM relationship score based on CRM activities Provide a more complete map of relationships for search and analysis
ERM/CRM integrations are on the rise 10x
increase 2009 vs. 2008, Now 30 of ERM
installations
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Examples of Products in Use
CRM ERM
Contact Manager by Hubbard One BranchIt by BranchIt Corp
ContactEase by Cole Valley ContactNet by Hubbard One
CRM4Legal by Client Profiles / Microsoft Relationship Discovery by Cole Valley
IntelliPad by Versys Corporation InterAction IQ by LexisNexis
InterAction by LexisNexis
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Evaluating Your Needs

• Requirements / challenges
• Budget / resources / staffing
• Privacy / security

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Questions to Answer

• What is the most important reason to implement
  CRM? How is that communicated to stakeholders?
• What formula can a law firm use to determine ROI
  on CRM / ERM? Metrics? Quantifiable, verifiable?
• Whats the biggest selling point of a CRM system?
• How do these systems make our jobs easier?
• How do you sell these systems to management?
• How do these systems complement each other? What
  are the similarities / differences between CRM /
  ERM and how do they separately / together
  enhance an attorneys business?

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Contact Information
Susan Brelus Chief Development Officer Squire,
Sanders Dempsey L.L.P. 216-479-8243 sbrelus_at_ssd.
com
John Veldkamp Business Development Systems
ManagerLatham Watkins LLP 650-463-3026 john.vel
dkamp_at_lw.com
Jenn Smuts Director of Marketing Connolly Bove
Lodge Hutz LLP 302-888-6214 jsmuts_at_cblh.com