Back to Basics: What is CRM?

Back to the Basics: What is CRM?

In this series, we’re going back to the basics. We’ll look at CRM as a tool and as a strategy to empower your firm’s business development and marketing initiatives and strengthen your relationships.

If we’re going back to the basics, we may as well start with an obvious question: What is CRM (and why do you need one)? We could write a novel on this subject, but for now we’ll keep it simple.

CRM is a Contact (or Client) Relationship Management platform. Outside of the professional services sector, CRM may also be referred to as Customer Relationship Management.

A Single Source of Truth

The main job of a CRM platform is to store and organize your firm’s contacts – all their details and any communication or touch points you’ve had with them – in a single place. In other words, a CRM is a single source of truth for your firm’s contact data. It helps firms stay connected to their clients and can even improve profitability (see: ROI: Boost Revenue with CRM).

Capture Touchpoints and Coordinate Business Development Efforts

CRM allows you to focus your firm’s business development and marketing strategy by understanding who at the firm knows whom and is in touch with your clients and contacts. You can track every touchpoint, record activities, and allow your professionals to collaborate seamlessly and stay organized. CRM can inform your firm’s business development and marketing strategy by providing a 360 degree view of your clients and contacts. It can even tell you when they’re opening your emails, how often they’re attending your events, or if they’re not engaging with you at all.

Integrate with Tools You Know and Use

CRM can integrate with the tools your firm already knows and uses. With a time and billing integration, for example, you’ll have a complete picture of the client journey. Integrations with email campaign tools like Vuture, Mailchimp and Constant Contact allow you to easily capture important analytics and know who is engaging with your firm’s communications. Integrations also allow you to automate certain processes so you can boost productivity and save time (see: Benefits of CRM Bridge Building).

In our upcoming post, we’ll dig in a little deeper. Do you have questions about CRM or how it can help your firm? With an industry high adoption rate, ContactEase is the CRM of choice for more than 250 professional services firms worldwide. Contact us at sales@contactease.com or visit www.contactease.com to learn more.

ContactEase Recommended Reading: How Law Firms are Handling the Most Interesting Budgeting Season in Years

“What the pandemic has proved is that those law firms that have spent significant dollars on technology investment were better prepared than those that didn’t.” 

October is a busy time for many marketers and it’s also typically the time of year we start to hear from firms looking to make room in their budgets for CRM for the coming year; however, we all know there is nothing typical about this year.  If you’re struggling to figure out how to approach “the most interesting budgeting season in years,” you’re not alone.  In a recent article from The American Lawyer, law firm leaders shared their insight on how they’re approaching their budgets for 2021 (registration may be required). 

With a decrease in traditional business development activities and an uptick in communications, it’s never been more important to stay in touch with your firm’s important clients. According to Michael Heller, executive chair and CEO at Cozen O’Conner, “What the pandemic has proved is that those law firms that have spent significant dollars on technology investment were better prepared than those that didn’t.” We’ve heard this from ContactEase clients as well.

While many firms have increased the frequency of their communications (in fact, one firm reported they’d seen an increase of over 400%), our clients said it was the processes and technology they implemented before the pandemic that allowed them to quickly and efficiently pivot during this time to keep their clients and contacts informed and engaged.

One marketing director said, “Getting lawyers to provide content has often been a struggle for us, but not this year. Like a lot of firms, we developed a COVID resource center early on. We used List Manager to provide lawyers with a summary of their contacts and used the Constant Contact integration to send our mailings and track the success of our campaigns.”

If you’re looking to make room in your budget for CRM, be sure to visit our website to learn how CRM can pay for itself many times over by saving you time and money. Download “ROI: Boost Revenue with CRM” to learn how one firm was able to boost its revenue and realize an ROI of over 100% with ContactEase.