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Tag Archives: interaction

Four Ways to Win More Client Work

winmoreclientwork

A BTI study suggests law firms are leaving money on the table and unnecessarily. Although GCs say they want to give their existing firms more work, law firms are only getting a meager 23 percent of the pie, David Jacobs, senior client advisor for LexisNexis, reported these findings during a webinar focused on business development (BD). “There’s a disconnect between ... Read More »

Elephant in the Room: How to be a Champion of Change

Elephant in the Room How to be a Champion of Change-2

Change is hard, but it may be complicated by the attitude we collectively present when faced with change.  Attitudes can be influenced. That’s one of the messages we took away from Dan Heath’s key note presentation at the 2016 LexisNexis Accelerate business development conference by the InterAction® team.  His presentation, “How to Lead a Switch” drew from the best-selling book ... Read More »

YouTube Friday:  Quantifying the Value of Client Retention

Quantifying the Value of Law Firm Client Retention-2

A new promotional video from the LexisNexis® InterAction® team underscores the significance relationships have on client retention.   More importantly, it expresses the significance client retention has on law firm financial health: “If you don’t know who your clients are then relationships are at risk and strategy is meaningless.” For most observers, the concept isn’t a stretch and we’d venture the ... Read More »

6 Enhancements to LexisNexis Software and Litigation Tools

6 Enhancements to LexisNexis Software and Litigation Tools

Note: The following is a guest post from Daryn Teague, who provides support to the litigation software product line within the LexisNexis software division. In recent weeks, the LexisNexis software and technology has rolled out software enhancements for a number of products of interest to the legal tech community. 1. Faster Snapshots of eDiscovery Data A new version of the LexisNexis® Early Data ... Read More »

LexisNexis InterAction Unveils Law Firm BD Module

LexisNexis-InterAction-Business-Edge-win-loss-blog

While $300 billion trade hands in the US legal industry every year, the market for law firms has never fully recovered from the recession that hit the US in 2008. While observers once thought demand for legal services was unshakable, the reality is corporations have become increasingly focused on value. Corporate attorneys, the center of the client universe for law ... Read More »

Survival Tips and 14 Can’t Miss Events at #ILTACON

Survival Tips and 14 Can’t Miss Events at #ILTACON

Vegas! It’s been two years since the International Legal Technology Association (ILTA) hosted its annual conference in Las Vegas (see: 38 Posts Summarizing the 2013 ILTA Conference). This year, the legal community is headed back.  Some 1,500+ attendees will congregated in Caesar’s Palace from August 30th to September 3rd.   It promises a heavy dose of legal tech just before the ... Read More »

Legal Competition Rises, Relationships Matter More than Ever  

Legal Competition Intensifies Relationships Matter More than Ever

Note: The following is a post from contributor Carla Del Bove, who provides support to the business of law software product line within the LexisNexis software division. Law firms are losing two out of every three new business opportunity they are presented with. This represents a loss of $637 million in potential profits, according to BTI’s 2015 Market Outlook and Client Service Review. Toni ... Read More »

Audit of 50 Law Firms Finds New CRM Best Practices

Audit of 50 Law Firms Finds New CRM Best Practices

Some law firms experience greater success with CRM implementations than others.  A recent audit of 50 law firms, many among the Am Law 100 or 200, provides insight as to how. The audit found a combination of strategy and tactical techniques makes a remarkable difference, according to Matt Thompson.  Writing for LawMarketing.com – 10 Best Practices to Implement CRM Effectively ... Read More »

InterAction Adds Passive Data Management to Law Firm CRM

LexisNexis InterAction IQ Module

Who you know may well be just as important as what you know. For law firms, knowing “who knows whom” can be a defining difference in both client loyalty and revving up the referral engine. “Research shows there’s a correlation between the number of partner relationships a client has with a law firm and that client’s loyalty. Client-flight risk drops ... Read More »

4 Easy Tips for Law Firm Client Team Programs

4 Easy Tips for Law Firm Client Team Programs

Most law firms – some 80% have client team programs, but just 39% of firms say these teams are “successful” according to Bryan Austin a law firm client advisor with the LexisNexis® InterAction® group. The data comes from a range of market research sources including surveys and interviews conducted with the InterAction client base.  Upwards of 90% of the Am ... Read More »