As the infographic below shows, 63% of law firms plan to invest additional funds into law firm CRM (client relationship management) in the next 12 months, according to a new survey by LexisNexis. A working system is extremely useful in business development, and can spotlight
- "Who" at the firm knows "whom" at a client.
- Sort clients by industry and growth potential.
- Facilitate cross-selling.
- Produce reports about every time a person or company made contact with the firm.
Yet marketing professionals and IT directors dread rolling out CRM initiatives, because 33% of law firms encountered lack of employee buy-in, and only 50% of firms saw a return on investment. Success turns on implementing CRM as a firm-wide strategic effort, as opposed to a technology implementation.