LMA Boston kicked off 2017 with their first educational program of the year, “Metrics for Law Firm Marketers,” with speaker Elizabeth Mell . Elizabeth discussed ways marketing and business development departments can “wave the flag” for their departments and help firm management make decisions. While making the business case for marketing & BD may not be as easy as in other departments such as IT, library, etc., Elizabeth provided guidance for firms on how to quantify data to help make your case.
Key takeaways from the program included:
- Measuring data helps you provide clear, succinct messaging and evaluate new initiatives but it takes time.
- Use existing data that is available to you such as time sheets and intake forms.
- Make sure to talk with other departments about data they keep. Accounting, finance, library, and even vendor data can all provide useful information.
- Report on client satisfaction.
- Messages to management to include “here is what we do well,” “here is what we can do better,” and “here are our opportunities.” You can use a mix of consultants and electronic surveys to compile this data.
- This information can also provide specific opportunities for cross-selling.
- Report on social media and blogs.
- Keep management informed on which practices, lawyers, teams are the most active and provide success stories to lawyers on how social media/blogging led to a new opportunity.
- Report on website.
- Provide management with information on which pages are seeing the most traffic and analyze user behavior to hone in on which issues are most important to clients. This includes reporting on ads/post that are driving (or not driving) traffic to your website.
- Statistics on attorney bios can help encourage them to keep their bios updated .
- Track events.
- Use your CRM or other methods to track speaking engagements, sponsorships, clients events, etc. Keep track of attendance (not just numbers but also quality).
- From tracking, provide management with information on which events resulted in leads or opportunities for the firm.
- Pitches and proposal tracking.
- Tracking opportunities being pursued and win/loss ratio.
- Provide management with information on what types of pitches we do best and where we are wasting resources on bad opportunities.
- Notify chair of all practices involved on active pitches.
- Use industry benchmarks where possible.
Click here to view upcoming LMA Boston events.