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The Voice of the Client: Nano Business Development
There has always been a technology arms race underway in the legal industry. The participants include law firms of all sizes, corporate clients, judges, law schools and even the infrequent average consumer. Law firms in particular usually are a step behind the latest technological advances since they are reticent to impose sweeping changes on their risk-averse and preservationist lawyer populations. When advancements do occur, it is frequently a reaction to an outside request such as the ability to file documents with the court electronically, or clients requesting online access to their documents and bills in real time.
Most firms began in the late 1990s to make investments in technology platforms that allowed them to be more proactive about how they ran their businesses. These investments included document management, client relationship management (CRM), advanced financial systems and time capture software. The common thread was using technology to collect, index and retrieve mountains of data and share them with internal and external audiences. However, sharing is usually all that occurred. Lawyers and managers ruminated on data with genuine curiosity, but action was not the final result. This has begun to change since the legal industry crash in 2008-2009 though the ability and willingness to make hard decisions based on accumulated knowledge is still in its infancy.
Likewise, firms heavily invested in technologies to enable marketing and business development efforts. The main goal was to collect and distribute enormous amounts of data and try to reach as many potential clients and prospects as possible. Little thought was given to who should be targeted. Casting a wide net by informing the planet of your capabilities and dedication to clients was sure to catch a few fish that were big enough to keep.
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