CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA...
-
Upload
antonio-bradley -
Category
Documents
-
view
218 -
download
2
Transcript of CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA...
![Page 1: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/1.jpg)
CRMCRM Panel PanelCole Valley Cole Valley
Users GroupUsers Group
Steve Barrett Steve Barrett CMO, Drinker Biddle & Reath CMO, Drinker Biddle & Reath
LLPLLPPhiladelphia, PAPhiladelphia, PAMarch 20, 2007March 20, 2007
![Page 2: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/2.jpg)
Lexicon: CRMLexicon: CRM = “Client = “Client Relationship Manager”Relationship Manager”
• If your system cannot tell you who’s a firm “Client,” you don’t have a “C”
• If you don’t have a “C,” you cannot have an “R”
• If you have neither a “C” or an “R,” you only have an “M,” which is just a 400-horsepower “Mailing” list!
![Page 3: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/3.jpg)
What What isis a Good CRM a Good CRM System?System?• Includes:Includes:
– Client Yes/No indication Client Yes/No indication (w. client (w. client ##s)##s)
– Summary client quantitative dataSummary client quantitative data– Big client v. little client indicationBig client v. little client indication– Other contacts at client/prospect Other contacts at client/prospect
organizationorganization– Subjective client + contact dataSubjective client + contact data
![Page 4: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/4.jpg)
What What isis a Good CRM a Good CRM System?System?• Includes Includes (cont’d):(cont’d):
– Easy integration with firm Easy integration with firm applicationsapplications
– Alumni + Referral sources trackingAlumni + Referral sources tracking– Event trackingEvent tracking
![Page 5: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/5.jpg)
![Page 6: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/6.jpg)
![Page 7: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/7.jpg)
What Good is a CRM What Good is a CRM System?System?•Multi-Dimensional (integrated CRM):Multi-Dimensional (integrated CRM):
– Targeting clients for service Targeting clients for service improvement initiatives improvement initiatives
– Supporting Client Service Teams’ Supporting Client Service Teams’ proliferation effortsproliferation efforts
– More accurate client source infoMore accurate client source info– Supports individual attorney + firm-Supports individual attorney + firm-
wide sales/direct business developmentwide sales/direct business development
![Page 8: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/8.jpg)
Parent Org.
Sub. 2Sub. 1
Div. 2Div. 1
Client ProspectClient Prospect Prospect Prospect
What is a Client “Family”What is a Client “Family”
![Page 9: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/9.jpg)
What is a Client “Family”What is a Client “Family”
• The Gillette Co.The Gillette Co.– Safety Razor Safety Razor
DivisionDivision– BraunBraun– DuracellDuracell– Right Guard/Soft & Right Guard/Soft &
Dri/Dry IdeaDri/Dry Idea– Edge Shaving CreamEdge Shaving Cream– AftaAfta
– Oral-BOral-B– Satin CareSatin Care– ThermoscanThermoscan– *Toni + Prell*Toni + Prell– *PaperMate*PaperMate– *Waterman*Waterman
![Page 10: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/10.jpg)
What Should Precede CRM?What Should Precede CRM?
• Lost business/shrinkage analysisLost business/shrinkage analysis(Can any be restored/recovered?)(Can any be restored/recovered?)
• Need to aggregate client info into Need to aggregate client info into comprehensive “views”comprehensive “views”(esp. w. corporate (esp. w. corporate “families”)“families”)
• Thorough understanding of firm’s Thorough understanding of firm’s clients clients (conduct “business autopsy”)(conduct “business autopsy”)
• Stratification analysis Stratification analysis (“What’s your (“What’s your 80/20”?) 80/20”?) You’ll find it’s more like You’ll find it’s more like 90/1090/10, in , in most “full-service” firms of any size.most “full-service” firms of any size.
![Page 11: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/11.jpg)
Stratification (Sample) –
Stratum %Clients Band Sub-Total Cum. $$ Total %$$ Avg.Cl.SizeTop 10 0.3% $33,853,582 $33,853,582 21.4% $3,385,358Top 20 0.7% $14,717,103 $48,570,685 30.7% $1,471,710Top 40 1.4% $18,015,682 $66,586,367 42.1% $1,801,568Top 60 2.1% $12,433,893 $79,020,260 49.9% $1,243,389Top 80 2.8% $9,663,541 $88,683,801 56.0% $966,354Top 100 3.5% $7,597,289 $96,281,090 60.8% $759,729Top 120 4.2% $6,328,995 $102,610,085 64.8% $632,900Top 140 4.9% $5,276,741 $107,886,826 68.2% $527,674Top 160 5.6% $4,323,739 $112,210,565 70.9% $432,374Top 180 6.3% $3,679,630 $115,890,195 73.2% $367,963Top 200 7.0% $3,205,950 $119,096,145 75.3% $320,595Top 220 7.7% $2,910,017 $122,006,162 77.1% $291,002Top 240 8.4% $2,618,336 $124,624,498 78.8% $261,834Top 260 9.1% $2,327,572 $126,952,070 80.2% $232,757261-2860 90.9% $31,286,538 $158,238,608 19.8% $12,038
2,860 100.0% $158,238,608 100% $55,328(3,171 clients billed; 2,860 collected)FYE 1/31/1995
![Page 12: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/12.jpg)
““What’s your 80/20”?What’s your 80/20”?
• So...should you spendSo...should you spend 80+% staff 80+% staff time on the data accuracy of time on the data accuracy of unimportantunimportant clients? clients?
• Or...80+% of time ensuring accuracy Or...80+% of time ensuring accuracy of of majormajor client data & enhance that client data & enhance that info to propel relationship growth?info to propel relationship growth?
• Should you relate to fans in bleachers Should you relate to fans in bleachers or sky boxes?or sky boxes?
![Page 13: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/13.jpg)
What Undermines CRMs?What Undermines CRMs?
• Lack of management supportLack of management support
• Convoluted roll-out, infrastructure & Convoluted roll-out, infrastructure & training needstraining needs
• Focus on achieving 100% data Focus on achieving 100% data integrityintegrity
• Incompatibility issues, siloed dataIncompatibility issues, siloed data
• Attorney contact release/complianceAttorney contact release/compliance
![Page 14: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/14.jpg)
What Undermines CRMs?What Undermines CRMs?
•Firm business Firm business development/sharing culturedevelopment/sharing culture
•Low teamwork/“client-centricity” Low teamwork/“client-centricity” readinessreadiness
•Needless complexity – training Needless complexity – training overheads deter usage + low overheads deter usage + low usage undermines successusage undermines success
![Page 15: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/15.jpg)
The ChallengesThe Challenges
•Mastering AdministriviaMastering Administrivia– Links to client info, web sitesLinks to client info, web sites– Maps/directionsMaps/directions– Client Service Team support Client Service Team support (“(“M”M”s s
cannot provide)cannot provide)– Integration w. hand-heldsIntegration w. hand-helds– Color-coding Color-coding (S/(S/M//LL//XLXL))– Integration Integration (w. phone dialing, mail-(w. phone dialing, mail-
merge, e-mail, fax covers, shipping merge, e-mail, fax covers, shipping labels, etc.)labels, etc.)
![Page 16: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/16.jpg)
The ChallengesThe Challenges
•Mastering Administrivia Mastering Administrivia (cont’d)(cont’d)– Familiar user interface?Familiar user interface?– Data enrichment Data enrichment (from Martindale, (from Martindale,
SHRM, ACCA, other sources) SHRM, ACCA, other sources) ??
– % with e-mail addresses?% with e-mail addresses?
![Page 17: CRM Panel Cole Valley Users Group Steve Barrett CMO, Drinker Biddle & Reath LLP Philadelphia, PA March 20, 2007.](https://reader036.fdocuments.us/reader036/viewer/2022062511/55145490550346494e8b52cd/html5/thumbnails/17.jpg)