Marketing | Business Development | CRM
Marketing and Business Development tools include Client Relationship Management (CRM) and Enterprise Relationship Management (ERM*) solutions, designed for law firms to manage their client relationships, track interactions, and streamline business development efforts.
Key features of these solutions can include:
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Client and Contact Management: a centralised database to store and manage client information allowing law firms to have a holistic view of their clients and enhance communication and collaboration.
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Business Development and Marketing: manage business development and marketing efforts and track leads, prospects, and opportunities, allowing for targeted marketing campaigns and relationship-building activities.
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Relationship Intelligence: analyse data from multiple sources to provide insights into client relationships, identify potential cross-selling opportunities, and suggest actions to strengthen client connections.
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Analytics and Reporting: track key performance metrics, such as client wins, matter profitability, and business development activities to evaluate performance, and make informed strategic decisions.
*What the difference between CRM and ERM?
Client Relationship Management (CRM) focuses on managing interactions and relationships with customers. It involves strategies, practices, and technologies that help businesses understand, engage, and serve their customers more effectively. CRM systems typically store customer data, track interactions, and provide tools for managing sales, marketing, and customer support activities.
Building on this, Enterprise Relationship Management (ERM) encompasses a broader range of relationships between a law firms’ team (each fee earner, partner etc. who interact with a client) and all the reciprocal relationships that exist within the clients team.
An ERM employs strategies, processes, and technologies that enable a law firm to build and maintain stronger relationships, collaboration, and ongoing business from key clients.
As you might expect, an ERM solution would be of more interest to a law firm with a strong commercial focus and a group of established corporate clients that it wishes to nurture and grow, but that does not mean that a commercial law firm would not need a CRM solution to provide the underpinning sales pipeline management and marketing tools that are also vital to more private client focussed law firms. As such it is common to see both types of solution deployed in tandem.
If required, Hindsight Legal Consulting can provide help and guidance to assist with system selection and implementation.
Contact us on +447507971296 or at enquiries@hindsightlegal.com
