World Practice Roundtable Maggie Watkins Meritas President October 25, 2004.
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Transcript of World Practice Roundtable Maggie Watkins Meritas President October 25, 2004.
World Practice Roundtable
Maggie WatkinsMeritas President
October 25, 2004
Meritas
Est. 1990; Non profit
170+ firms; 60+ countries
Firms ranked in top 20
Purpose: credible, effective client coverage
Our Name: Meritas
Merit: Latin root —“merito’—‘brought in’ or ‘earned’
Means “proven ability or accomplishment”
Protected internationally Firms show Meritas on letterhead,
Web site and marketing materials
Typical Meritas Member Firm
One firm per market
HQ in city served
Full service law firms
Non exclusive
No competing formal strategy
Why Meritas is Different
# 1:
Objective, transparent and rigorous member service monitoring
Quality Control All referrals tracked as condition
of membership Written evaluations
Established system in place
Client service standards Periodic member recertification
Involvement in organization Client service complaints
Practice mix monitoring Terminate 2% annually
Client Credibility
Clients access evaluation records
Over 3,000 matters evaluated
Database online
Why Meritas is Different
#2:
Tools to compete with regional, national and global firms
Focus Has Shifted Beyond Referrals
Technology support for client coordination
Local marketing support
Educational & networking meetings
Lawyer qualification database
Extensive Lawyer Qualification Database
Provides the ability to directly reach a lawyer whose capabilities meet legal needs All member attorneys’ profiles are
included in the LQD Industry expertise Niche legal specialization
Online access www.meritas.org
Resource Tools Available(for clients and members)
Lawyer Qualification Database - both resource and promotional tool
Repository for marketing best practices
Meritas Web site: www.meritas.org
Member Site
Resource Tools (cont)
Partner sales training
National and international trade show program
Attorney retreat facilitation
Why Meritas is Different
# 3:
Significant new business for members via direct marketing/sales effort
Strategy Position Meritas similar to
national/international firms
Goal: Substantive, profitable work from Fortune 1000 and increased referrals between members
Process: Use member contacts to leverage collective expertise
Most Important Criteria in Selecting Outside Counsel
Past relationships
Reputation of individual lawyer
Lawyer expertise in a specific area
Firm expertise in a specific area
Reputation of the law firm
1. ACC/Serengeti survey
Corporate Advisory Board
Use corporate counsel perspective to maximize HQ business development efforts
Joe Bauer, Lubrizol Gary Jacobs, MGM Mirage Kim Myrdahl, SuperValu Bruce Whitney, Air Products Paul Marcela, Dow Corning Doug Kosloski, Crown Investments
2004-05 Corporate Sales Plan
We will be… Expanding Sections and
Industry groups as a business development resource tool
Adding more tradeshows
Stressing relationship development after initial contact
Why Lubrizol Uses Meritas
“The network maintains a high level of quality control among its members. We don’t have to do interviews, and we don’t have to go through a reference process. That’s been done for us by an organization we trust.”
Joe Bauer, General Counsel
Lubrizol, Inc.
Membership Retention is High
Meritas referrals = top 10 client for active, visible firms in big cities
Significant referral income
Value in outbound referring
HQ: Significant leverage to enforce service standards
Meritas’ Commitment to Diversity
Assisting member firms to recruit, retain and promote attorneys of diverse backgrounds
Educating member firms about the business imperatives of diversity initiatives
Heightening the awareness and sensitivity of its members to create opportunities that enhance diversity
Commitment to Diversity (continued)
Promoting the involvement of attorneys of diverse backgrounds in the leadership and governance of Meritas
Weighing commitment to diversity in firm recruitment and certification
Meritas: A Strong Competitive Advantage
Safe, credible geographic reach
Significant new business
Means to find and demonstrate depth
Reduce operating costs
Associate attraction and retention
Keep local brand relevant