THE NEW NORMAL OF DATA-DRIVEN RELATIONSHIPS
What’s changed in Legal BD post-Covid (and how CRMs need to change)
Plenty of ink has already been spilled on how the legal market evolution has been accelerated in response to the COVID crisis.
Specific to BIGlaw business development, there is no escaping the fact that lawyers and business development teams are under more pressure to deliver than ever before.
Unfortunately, despite this call, far too many firms are still being hindered in their efforts. A core reason being the failure of today’s CRMs to support the needs of BIGLaw.
Let’s explore some key problems with today’s BIGLaw CRM options.
Lawyers are not salespeople. Law Firms aren’t Sales Teams and Legal Clients are NOT Customers.
A core problem with the current CRMs available today for BIGLaw is that they assume BIGLaw works like Enterprise Sales Team, where efficiency, velocity and volume are key.
This could not be further from the truth and this huge misassumption has created huge problems when trying to implement CRMs into BIGLaw firms – the core problem being that lawyers do not enter data, which means law firm CRMs fall out of effectiveness and eventually out of use in a vicious cycle.
At the same time, more so than ever before, BIGLaw CRM’s need to support relationship building through the use of relationship data!
How a CRM can help you build Data-Driven Relationships.
According to the Nexl’s 2021 State of Business Development, law firms in 2021 will be focusing on relationship management as their #1 strategy. Let’s breakdown how CRM’s can help. Hint: It’s all about CRM data.
Data-Driven Client Relationships: A Changing Landscape
As client relationships change to increasingly be online, modern client relationships are being built on these platforms through use of technologies and data insights, making the data inside your CRM (or lack thereof) essential to understanding and developing relationships.
Now more than ever before, relationship data is setting firms apart. Data is knowledge and knowledge is power.
Relationship Data helps BIGLaw Win.
Relationships data can literally help you win more clients, reduce client churn and expand revenue through cross-selling.
Unfortunately, without that data you are “flying blind”.
Eliminate data entry. Cleanse existing contacts. Automate Insights.
Nexl’s CRM is the #1 no-data-entry law firm CRM. Unlike traditional CRM’s like SalesForce or InterAction, Nexl automatically builds itself for you using data automation, data enrichment and APIs integrations.
Together these technologies allow you to eliminate data entry and gives you 24/7 updated contact information resulting in data-driven business development for your law firm.’