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For years, customer relationship management (CRM) in law firms has often been viewed as a glorified Rolodex — a necessary but often underutilized system primarily seen as a data repository. However, as firms seek to drive business development, client engagement and revenue growth, CRM needs to evolve into a strategic growth platform.
Features
For years, customer relationship management (CRM) in law firms has often been viewed as a glorified Rolodex — a necessary but often underutilized system primarily seen as a data repository. However, as firms seek to drive business development, client engagement and revenue growth, CRM needs to evolve into a strategic growth platform.
Features
Sooner or later, everyone needs a lawyer. It has been said the average American knows 600 people. You might have done a good job at raising awareness among your friends about how your can help them. Your partner likely knows 600 people too. There is overlap, but plenty of new names. Can they spot a business opportunity and tell your story?
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As the relationship between in-house and outside counsel continues to evolve, lawyers must continue to foster a client-first mindset, offer business-focused solutions, and embrace technology that helps deliver work faster and more efficiently.
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In an era of rapid change and increasing client expectations, fostering authentic relationships and prioritizing effective communication are essential for sustainable growth.
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Getting new business doesn't always involve knocking on doors. It can often be gained by whispering in the right ears.
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At best, it is difficult to budget for external legal fees. Needs are uncertain at the beginning of the year, and there is constant pressure to hire the best firm possible. Here are three suggestions to help you reduce your external legal spend.
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Who are your ideal clients and why do they (or should they) hire you? This simple but key question for marketing and business development is often deceptively challenging to answer. Building and implementing comprehensive client personas enables lawyers, practices and firms to refine their marketing and business development strategies to attract clients that align with their expertise, experience and values.
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End of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.
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The self-service buyer is a relatively new concept in B2B professional services. These buyers prefer to gather information, research, and make decisions independently before ever engaging with a service provider. This shift is revolutionary in an industry like legal services, where trust and personal relationships have traditionally driven business development.