In Busting Silos: How to Turn the Concept of Cross-Selling into Practice, Jaime Sheldon and Julia Studdard (Director of Business Development and Senior Business Development Manager, respectively) of Akin Gump Strauss Hauer & Feld LLP presented a cross-selling case study focused on a systematic approach to identify the most effective strategies for facilitating collaboration across multiple practice groups and a road map for implementation.
Cross-practice efforts and collaboration should be established before committing partner time and firm resources into launching an initiative. Arm a team with the right resources that will prioritize, delegate, and develop a clear plan to find solutions for potential gaps in the firm’s offerings. It is important to promote knowledge and better coordinate efforts to present your firm’s capabilities across practices. For example, Akin Gump launched a cross-selling tool where client presentations, marketing insights, contacts, and matters can be found in one portal.
After launching an initiative, performance measurements should be in place to develop stories that will encourage attorneys to collaborate further. These measurement efforts include tracking progress, new matters, and client feedback, as well as identifying revenue generated post-launch and guidelines on whether to continue investments. Business development and marketing teams should also drive collaboration strategies, such as issue-spotting, analyzing key clients, and information sharing.
By Eury Jung, Marketing Coordinator, McDermott Will & Emery LLP