using (competitive) intelligence to build your legal business

Using (competitive) intelligence to build your legal business

Adam L. StockDirector of Marketing & Business DevelopmentAllen Matkins Leck Gamble Mallory & Natsis LLP

www.allenmatkins.com

Background and perspective

• Adam Stock

–15 years in high technology – executive and entrepreneur

–4 years in Legal Services• Allen Matkins and Dorsey & Whitney

• Established sales functions, key client team programs, pursuit systems

• Allen Matkins Marketing & Business Development Team

–Marketing Managers – no dedicated CI person (yet)

–Everyone in department is trained to do CI

Everyone brings intelligence into the dialogue


What do we mean by “intelligence”?

• External (and internal) information sources to make better business decisions


Why isn’t the use of intelligence obvious in the law firm context?

• Concept of “business development” support is new to law firms

–Roles

–Processes

–Resources

• Intelligence products are relatively new


Agenda

• Intelligence sources

• Context for intelligence

• Execution and effectiveness – the secret sauce!


Intelligence sources

1. Relationshipswhom do we know?– Internal: CRM system, Accounting system– External: BranchIt, Contact Networks, Visible Path

Generate, Orion’s Belt

2. Client/prospect-specificwhat does the customer need?– External: Hoover’s, Firm360, 10Ks, analysts, Google– Event-driven: CourtLink alerts, Google alerts, Legal filings


Intelligence sources

3. Market/Industry listswho needs services?

– Industries: Hoovers, VentureSource, Bloomberg, Firm360, numerous others…

– Markets: Book of Lists, etc.

4. Industry trendswhat will the customer need in the future?

– Industry-specific: Numerous analyst reports, numerous industry reports.

– Legal: BTI, ACCA Serengeti


What are the contexts for using intelligence?

1. Targeted pursuits• X just recommended us to company Y. How should we

approach them?

2. Target identification• Here’s the registration list for the event we’re attending.

Whom should we be speaking to?

3. Client teams• How can we get an in-depth understanding of their needs,

their business, our history with them and our relationships with people in their company?


What are the contexts for using intelligence?

4. Opportunistic pursuits• Company X just got sued in San Francisco and we can

help them. Whom do we know at company X? • Company Y just filed for bankruptcy. Who are their

creditors and whom do we know at their creditors?

5. Strategic planning• Where should we focus our practice development and

marketing? How should we position ourselves for the future?

6. Organizational planning• What are industry best practices and what data will

convince my law firm to do things differently?


Bring intelligence into the dialogue – or cracking walnuts

The Walnut

I’ve known the client for 20 yearsand we’re getting the majority of their work…


Firm 360 Litigation report

“But this report shows that we’re getting less and less of their work and our biggest competitor is doing most of their work!”

I think we’d better visit the client…


Build a support model that fits with limited attorney business development time

Typical day9AM 6PM

Attorney

Bus. Dev.Staff

Work on a specific pursuit

Billable attorney time

Other marketing time


Build a pursuit development process that includes Business Development and Competitive Intelligence roles

Day 1 Day 7

IdentifyTarget(Atty + BD)

ReviewResearch(Atty + BD)

Review1st Draft ofPitch (Atty + BD)

FinalizePitchMaterials (Atty + BD)

Do research(BD + CI)

Develop pitchmaterials

(BD)

Refine pitch(BD)

Typical pursuit development process


Build a clear client team role that includes Competitive Intelligence

– Attend team meetings

– Contribute ideas for improving client relationship

– Suggest/evaluate potential solutions that might be introduced to client

– Follow-through on commitments made to the team

• BD Manager assigned to team– Help schedule calendar of team meetings– Research, analyze, suggest potential

solutions– Send team reminder emails of meeting

dates– Send individual reminder emails for each

team member’s action items assigned that month

– Attend meetings, conduct requested follow-up

– Update progress report monthly– Post/update information on intranet site– Debrief/prepare practice group delegates

invited to team meetings• Comp. Intel. liaison assigned to team

– Research and analysis– Establish/maintain client library page– Establish/monitor Courtlink emails

Lawyer’s Responsibility

Support Team’s Responsibility


Make intelligence available on your intranet 24/7


Link intelligence with client information so everyone comes to expect it


How do you know if it is working?

• Track information requests

• Track pursuit successes

• Collect anecdotes


What does “success” look like?

• We developed a pitch to a prospective client that depended heavily on intelligence and client interviews.

• Email from the client:

"K______ and I have interviewed patent litigators from Boston, D.C., Chicago, Atlanta, Houston, Austin, Los Angeles, Denver, the Bay Area, Portland, and Seattle. I can honestly say that your team was hands down the most impressive – by a mile. Thank you all for being prepared, answering our questions articulately and thoughtfully, and for taking the time to meet with us.“

–Chief IP Counsel, Fortune 500 company

using (competitive) intelligence to build your legal business

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