Katherine Hollar katiehollar FEBRUARY 4 6 2014 THE HILTON NEW YORK Law Firm Technology What Clients Want LEGALTECH NEW YORK FEBRUARY 4 6 2014 Take a look at the market LEGALTECH NEW YORK FEBRUARY 4 6 2014 ID: 209910
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February 4, 2014Katherine Hollar | @katiehollar
FEBRUARY 4 – 6, 2014 / THE HILTON NEW YORK
Law Firm Technology:
What Clients WantSlide2
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
Take a look at the market.Slide3
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
Client satisfaction is falling.
Source: BTI ConsultingSlide4
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
Firm clients are insourcing.
Source: BTI Consulting
In 2012, corporate legal departments brought
$5.8 billion
of work back in-house.Slide5
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
Opportunities are fewer.
Source: American Lawyer Media
41% of companies
are working with fewer law firms
than they did five years ago.Slide6
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
But client service pays off.
Source: BTI Consulting
70%
of the top 30 client service firms
gained market share
in 2012.Slide7
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
Lest you think IT does not in client service…Slide8
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
What is client service anyway?
Understand my business
Show new approaches
Staffing
Billing
Strategy
Technology
Communications
Source: BTI ConsultingSlide9
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
What is client service anyway?
Source: BTI Consulting
3.
Redefine the legal service process
Provide client-centric educational events and networking opportunities
Build project management systems from the client perspective
Engage in client feedbackSlide10
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
Legal Technology:
What Clients Say
A Special Survey for ILTASlide11
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
The Good News
92.9%
of in-house counsel
have never fired a firm
b
ecause of poor technologySlide12
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
IT won’t make the sale…
14.3%
h
ave selected a firm
because of its technologySlide13
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
…but it plays a role.
42.9%
address technology requirements
in Requests for Proposals (RFPs).Slide14
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
What do clients want us to pitch?
Security and data privacy – 82.1%
E-discovery capabilities – 67.9%
Status updates/reporting – 50%
Custom client intranets/databases – 50%
Dockets and calendars – 35.7%Slide15
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
“What about law firm IT annoys you?”
Over-encrypted email:
“Secure email – it is tedious.”
“Having to log in with an access code before emails can be opened/read.”Slide16
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
“What about law firm IT annoys you?”
Passive intranets:
“I want real email updates. I don’t want to be told something’s been posted on the intranet. That just creates work for me.”
“Maintaining and operating the system requires multiple tasks…old-school files and emails are fine sometimes too.”Slide17
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
“What about law firm IT annoys you?”
Disconnect between client contacts and IT:
“Not being able to leverage technology to access the templates and advice the firm created.”
“Some firms tout technology but their lawyers don’t embrace it.”Slide18
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
“How can law firm IT help
win or keep your business?”
Little things:
Streamline email security
Achieve certification status - ISO/Safe Harbor/EU Model Clause/HIPAA
Rock e-billing
Enhance mobile accessSlide19
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
“How can law firm IT help
win or keep your business?”
The big thing:
Cultivate client empathy.Slide20
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
“Keep the focus on how to make my life easier.”Slide21
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
“It doesn’t matter if the technology is cool or interesting or new –
it must always help me in some
way
.
If
it doesn’t pass that test, it makes me think…they are inefficient and self-absorbed, which makes me wonder if I’m getting the right value.”Slide22
LEGALTECH NEW YORK / FEBRUARY 4 – 6, 2014
Become a client advocate.
Add a tech piece to materials/proposals
Tech-heavy proposal? Attend the
pitch
Provide examples, value calculations
S
how, don’t tell
Enhance training – make sure the lawyers get it
Get specific with client teams –
customize
Ask for client feedback on ITSlide23
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Your Marketing Meditations
How can we solve the client’s problem?
What IS the problem?
How can we make the client’s life EASIER?
How can we make the client’s life BETTER?