WHAT: Business Development
WHY: Lack of coordination in growing existing clients and attracting new ones
HOW: a CRM system, named Eclipse
This commercial law firm had no uniform practice to qualify new client opportunities. There was a lack of co-ordination, teamwork and knowledge sharing to aid cross-selling, grow existing clients and pursue new clients. Their strategy was to grow, and be one firm. The initiative had to be easy for partners to adopt, that quickly demonstrated benefits, was not steeped in paper work, and was linked to the reward program.
A CRM (client relationship management) system was designed and implemented (separate from an IT solution). The program was given a name – Eclipse – and was structured to reflect a service life-cycle. The program was strongly communicated. Partners were educated. The induction program, appraisal process and the regular management reports incorporated the initiative.
3 years on and the initiative contributed to a 70% increase in revenues. There was greater service penetration across the top 100 clients. Individual partner profitability increased. The average client satisfaction rating moved from 70% to 90% satisfaction. New business success moved from 25% to 65%. An IT solution was then scoped and implemented to complement this initiative.