find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Marketing, business development and new technologies

Marketing, business development and new technologies

Measuring the effectiveness of functional areas within law firms is growing more popular as managing costs to align strategy and value with legal spend becomes a key lever in capturing market share, writes David Langdon

In the grand scheme of things, most functional areas only account for a small sliver of spend but their impact on the firm is growing. Marketing and business development are perfect examples of this.

However, some barriers exist that prevent law firms from typically getting onboard with the marketing and business development process. Chief among these is getting lawyers to buy into customer relationship management systems (CRM).

This is created by a typically protective culture around client contacts and new business opportunities made doubly frustrating as it is the lawyers that typically hold the relationships that marketing and business development teams need to exploit.

This reluctance among lawyers to share their contacts goes hand in hand with traditional difficulty in measuring the impact of marketing and client engagement activity.

Firms may send out a constant stream of mailers and newsletters, but more often than not, firms do not have the tools to track real-time engagement, let alone a proper return on investment.

This lack of ability to track is also underscored by a similar lack of transparency when it comes to knowing how to cross-sell a firm’s services, let alone identifying a cross-selling opportunity in the first place. This all boils down to a lack of focus on lead generation, a perception that law firms are not sales organisations and a reluctance for lawyers to give up billable time to manage a CRM system.

However, the answer to these woes lies squarely within a more nuanced understanding and exploitation of technology. There is clearly a need to move lawyers away from being producers of marketing and business development data, and into being solely the users of it.

This is where technology comes into play as it removes the need for lawyers to participate in the gathering and refining of data.

There are now many systems that collect a multitude of data and that will also uncover and analyse it to help spot opportunities and trends.

In turn, this fills the gap in cross-selling opportunities and allows the marketing and business development team to do their job with greater accuracy and speed. Indeed, this data can also be leveraged into robust experience and credential databases that can be used by lawyers on the fly, greatly saving them time.

There is also an inherent flexibility in many technologies that allow access to a wealth of information from anywhere in the world – what could be termed a “taxi report”, literally allowing a lawyer to call up necessary information without wading through a two-inch thick paper report.

The idea of more accessible reports is also underlined by the fact that many marketing and business development technologies can be paired with leading digital marketing solutions that further streamline marketing engagement and feedback directly into the CRM tool.

This saves even more time and delivers a demonstrable way of measuring return on investment – the holy grail for any marketer and a sure-fire way of helping business development technology gain a foothold with a law firm.

David Langdon is a regional sales executive (ANZ) at Thomson Reuters Elite.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Marketing, business development and new technologies
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Dec 15 2017
Timing ‘critical’ in unusual contempt of court ruling
A recent case could have interesting implications for contempt of court rulings, according to a Ferr...
Dec 14 2017
International arbitration and business culture
Promoted by Maxwell Chambers. This article discusses the impact of international arbitration on t...
Papua New Guinea flag
Dec 14 2017
World-first mining case launched in PNG
Citizens of Papua New Guinea have launched landmark legal proceedings against the country’s govern...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...