Law firms today face an uphill battle. A new CounselLink study from LexisNexis indicates that law firm consolidation is increasing. Based on companies reflected in the study, more than 60 percent use 10 or fewer firms to handle at least 80 percent of their legal work.
For those law firms getting the bigger piece of the pie, this is great news. For the rest, the challenge is significant. While it’s difficult to control these evolving legal market dynamics, the one thing law firms can control is how well they manage their marketing and business development processes.
While it may sound trivial, something as simple as having incorrect contact information or inaccurate marketing lists can greatly undermine a firm’s business development efforts. Worst case scenario, those kinds of mistakes can result in loss of business to the competition.
This month, we’re committed to helping alleviate law firm marketing and CRM-related headaches with 3 new enhancements to the InterAction CRM portfolio. The enhancements will help firms gain more high quality, reliable contact data, with less expense, time and effort involved:
- Introducing Contact Data Normalization. With the new InterAction Data Normalization feature, firms can standardize how contact data is displayed and stored. This lets the system automatically make corrections, rather than a person manually doing it. Information that is normalized includes: job title, street address, state, country, and title prefix. In addition, data normalization rules now get applied to incoming contact data from InterAction IQ, InterAction for Microsoft® Outlook® (IMO), InterAction Mobility and the InterAction Web Client. Firms can also apply the new normalization rules to their existing contacts, alleviating the time and cost associated with having to manually enter this information while ensuring the data is more accurate and standardized.
- Google Chrome™ Browser Since Google Chrome is the browser of choice for many law firms today, the InterAction Web Client now supports its use.
- Segmentation and Archiving. InterAction now provides better segmentation and categorization capabilities to assist with a firm’s one-on-one marketing communications, and improved archiving capabilities streamline the firm’s archiving processes.
These are just a few of several new enhancements recently added to the InterAction CRM software portfolio. For more information about these and other features not included in this post, please visit: http://software.lexisnexis.com/InterAction-ReleaseUpdates