Law firms "losing market share" due to inefficient CRM

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  • So essentially we learn that 84% of respondents believe CRM is the responsibility of BD/ marketing and that 83% of respondents believe fee-earners ring-fence their relationships...

    ...two statistics that couldn't more starkly explain why this industry, after a decade of change, remains very much rooted in the past when it comes to client centricity.

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  • User adoption of CRM systems all across the firm, whether, BD, marketing and lawyers is critical. Legacy systems have failed in this regard with lawyers in particular being forced to use systems that are convoluted and don't deliver the truly useful information to ensure that client relationships, across firms, are developed and maintained to their fullest. We have developed a system, xRM4Legal, that takes legal CRM to a whole other level and is integrated into the latest version of Microsoft Dynamics CRM, is adaptable and has exceptional reporting and integration functionality. The difference and capabilities will impress. In addition it comes at a lower cost of ownership and is totally adaptable. CRM doesn't have to be the same as the systems that firms have come to tolerate.

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  • Thanks for the great article Matt, the fact that firms are not taking full advantage of their CRM systems is a shame. The mismanagement of CRM systems within firms is an issue that definitely has to be addressed. You stated that 49% of the staff in these law firms believe that CRM is not for them; this number is too high and speaks to the lack of importance the staff has placed on CRM systems. The culture in these firms has to change and this change must come from management. The executives in these firms must make every department work with each other and make them realize that they should not be limited to their own department. By having every department work together, the issue of the mismanagement of the CRM systems in these firms will begin to be addressed. Every department within these firms will have a better understanding of how their client relationships can benefit from a CRM system.
    Firms should have already realized the importance of client relationships and how CRM systems are designed to build this relationship stronger. There are many CRM platforms out there that are available to help firms develop excellent client relationships. I have found GreenRope to be a useful CRM platform because it integrates many avenues of connection to the clients into one platform and they provide world-class customer service. The incorporation of CRM systems within entire firms is a great way for the firm to be connected and understand the importance of the relationship with the clients. Investing in new CRM programs and upgrading their current systems is a start, however the firms have to understand the full potential of CRM systems.

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  • As a developer of CRM and accounting systems across multiple sectors, an issue we see time and time again is people wanting their CRM system to do too much from day one, achieve marketing miracles and then staff getting overwhelmed with all the things they're expected to do.

    Change management is one of the most important aspects of CRM. If staff don't see the benefit and it's not easy to use, it won't get used. Keep it simple and sell it to them. Try and find hassles in their daily activities that a CRM system can solve. Keep [management] expectations low and invest in making sure what data you do put in is right. Try and achieve too much too early and the CRM system is much more likely to fail.

    Whatever issues are specific to the law firms, implementing CRM systems has common problems you'll find in all businesses.

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