Events have always been a cornerstone of marketing and business development for law firms. From large-scale conferences to intimate client dinners, these gatherings provide invaluable opportunities to showcase expertise, build relationships, and drive growth. However, the landscape of event management has evolved dramatically in recent years, particularly in response to the challenges brought on by the COVID-19 pandemic.
Our latest white paper, “Proving ROI with CRM-Integrated Event Management,” offers a comprehensive exploration of these changes. Based on insights from nine global law firm clients, it delves into how firms are adapting to the new realities of event planning, measuring return on investment (ROI), and leveraging technology to enhance the impact of their events.
The Shifting Landscape of Law Firm Events
Before the pandemic, in-person events were the norm. They were vital for face-to-face interactions and often required significant resources to plan and execute. However, despite their importance, many firms struggled with the complex logistics involved and, more critically, with measuring the ROI of these events. The introduction of virtual events during the pandemic added a new layer of complexity. While virtual events allowed firms to maintain engagement during lockdowns, they also presented challenges in keeping attendees engaged and capturing meaningful data on outcomes.
One of the key findings in our white paper is that 50% of law firms now plan to host between six and ten in-person legal conferences annually, reflecting a strong return to in-person events. However, these events are not just about getting people in the room anymore. Firms are increasingly focusing on creating highly personalized and value-driven experiences to ensure attendance and engagement.
As Brenton Anderson from Dentons notes, “People are only in the office a few days a week, and more unwilling to spend time out of hours at external events, so events need to have a strong value proposition and reason for attendance.”
Proving ROI: The Biggest Challenge for Law Firms
Measuring ROI remains a significant challenge for law firms when it comes to event management. According to our research, “measuring ROI and capturing business opportunities” was cited as the biggest challenge by the firms surveyed. This difficulty stems from the complex nature of attributing specific client acquisitions or revenue gains to individual events.
The white paper highlights that integrating CRM systems with event management platforms is a game-changer in addressing this challenge. By utilizing CRM-integrated tools, firms can track attendee interactions, manage follow-ups, and analyze the effectiveness of their events with greater precision. This integration allows firms to streamline the logistical aspects of event planning and gain actionable insights that can demonstrate the tangible benefits of their events.
As Chantal Williams from Von Wobeser y Sierra points out, “Tailoring invite lists based on audience analysis and segmentation makes events more impactful.”
Nexl’s platform, for example, provides robust tracking and reporting capabilities that enable firms to log interactions, follow up effectively, and uncover both short-term and long-term business opportunities.
As Jenny Williamson from FB Rice emphasizes, “Measuring ROI is critical. Tracking interactions and follow-ups through Nexl helps demonstrate long-term value.”
Proving ROI: The Biggest Challenge for Law Firms
Looking to the future, hybrid events—those that combine in-person and virtual elements—are set to become increasingly prevalent in the legal sector. These events offer the flexibility and broader reach of virtual formats while still allowing for the personal connections that are so crucial in the legal industry. The future of event management will also likely see greater use of advanced technologies such as AI and virtual reality, which can create more engaging and personalized experiences for attendees.
According to the white paper, integrating comprehensive tech stacks that include CRM, event management, and project management tools will become the standard for law firms aiming to maximize the impact of their events. By embracing these innovations, law firms can ensure that their events not only resonate with their target audiences but also drive meaningful engagement and contribute to their long-term business development goals.
Take the Next Step in Event Management
The evolution of event management presents both challenges and opportunities for law firms. As the landscape continues to change, it’s crucial to stay informed and leverage the right tools to ensure your events remain impactful and aligned with your firm’s broader objectives. Our white paper, “Proving ROI with CRM-Integrated Event Management,” offers a deep dive into the strategies and technologies that leading law firms are using to optimize their events and maximize ROI.
Download the full white paper here to gain actionable insights and learn how your firm can navigate the complexities of modern event management, ensuring that every event drives greater engagement, achieves better outcomes, and contributes to long-term success.
