Demonstrating Return on Investment (ROI) in a law firm is possible. Often it's doing the little things - and the right things - that count.Get ideas of how to utilize data and technology to help make ROI a reality.

1. ROI: Reality or Illusion
A webinar on measuring the Return on Investment in Law Firms
Name Of
Presentation
2013

2. WEISERMAZARS LLP
Since 1921, WeiserMazars LLP has provided accounting, tax and advisory services. Defining features
of our firm include:
 Over 100 partners and more than 700 professionals in six U.S. offices
 Named one of the top accounting firms in the country by Accounting Today (March 2012)
 An integrated, customized approach – Our full service platform integrates accounting, auditing, tax
and advisory services seamlessly to best address the critical issues our clients face
 WeiserMazars is an independent U.S. member firm of the Mazars Group, one of the world’s most
prominent international accounting, audit, tax and advisory services organizations with:
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Access to over 14,000 professionals in more than 70 countries on six continents
International reach uncommon in firms with such an intense focus on coordinated, client-centric service
Expertise on global issues, cultures and techniques
Visit us at: www.weisermazars.com
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3. Timothy B. Corcoran
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Over 20 years of expertise in law firm management,
marketing, business development and technology, product
management and consultative selling
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Advises law firm leaders in business development, legal
project management, process improvement. Also advises
legal vendors on product development, market strategy
and sales force readiness
Principal
Corcoran Consulting
Group, LLC
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Formerly a senior consultant with Altman Weil; Director of
Practice Development for a global law firm; CEO of a
NASDAQ-traded legal technology company; and a senior
executive with both LexisNexis and Thomson Reuters
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President-elect, LMA International Board of Directors
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Author of Corcoran’s Business of Law blog
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Fellow, College of Law Practice Management and Center for International Legal Studies
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Columnist, Marketing the Law Firm, PSMG Magazine (UK), Bloomberg Law, CounselLink
www.integratedmgt.com
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

4. Chris Fritsch
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Over 12 years working with law firm Clients to help them
achieve their business and technology goals. Her focus is
on building relationships, exceeding Clients’ expectations,
delivering value and providing superlative service.
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As a Business Development Consultant, Chris has worked
together with attorneys and business development and
marketing professionals to successfully leverage
relationships, increase revenue and grow their law firms.
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As a Business Development Technology and CRM Success
Consultant, Chris works together with top law firms to help
them select and implement the right technology solutions
to support their Business Development efforts and
maximize their return on investment
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Author of CRMSuccess blog
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President
Chris has a J.D. from Emory University School of Law
www.integratedmgt.com
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

5. Putting the ‘R’ in ROI
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Results
Revenue generation
Reducing time spent on redundant tasks and
processes
Representing new Clients
Retention of current Clients and attorneys
Reports and analytics to drive business decisions
Respect for the marketing department

6. The little things count
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Don’t try to boil the ocean
A couple hours each week on
business development
Targeting the right people at
events
Improving click rates 1%
Tracking business
development touches
Personal follow up

7. Do the right things
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Pick the low hanging fruit
Measure and reward collaboration,
teamwork, client service and satisfaction
Conduct Client interviews
Focus on top Clients
Know which RFPs to spend time on
Take younger lawyers on BD calls
Focus on expertise / niches
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Industries / developments

8. What Gets Measured Gets Done… Better
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E-mail and event campaigns
 Open / Clicks / bounces
Event attendance
 Business development pipelines
 RFP responses / successes
 Marketing expenses
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9. Who moved my cheese?
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

10. ROI = return on investment
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

11. ROI = return on investment
ROI is relative, not absolute
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

12. ROI by the
Numbers…
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13. Positive Numbers
Improving efficiencies
 Outsourcing to reduce costs
 Technology to automate processes
 Cross selling to increase revenue from top
Clients
 Targeting business development opportunities
for better results
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14. Negative Numbers
• Opportunity costs
– Billable hours wasted
– Poor attendance at expensive events
– Repetitive and redundant processes
– Inability to target and segment and ensure
information gets to the right audiences
– Postal mailing costs
– Random acts of golf and lunch
• Dollars wasted on non-strategic activities
• Sponsorships / Tickets

15. Targeting
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

16. Getting a Little Better
at E-mail Marketing
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17. www.integratedmgt.com
Proprietary
‹#›

18. Marketing List Management
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Should be grown organically over time
 Never purchased
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Should regularly be vetted
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Allow them to re-opt in
Bigger isn’t necessarily better
 Smaller, more targeted lists yield better results
 If a recipient hasn't opened an email in a year, consider
deleting them
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A 5% reduction in customer defection can boost profit
by over 25%

19. Segment to Improve Engagement
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Clients
Prospects
Alumni
Referral sources
Job titles
Interests
Assets
Gender
Age
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Industries
Geographies / locations
Company size
Revenue
Practice areas needs
Current services utilized
Goals
Needs

20. E-mails That Get Read
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Alerts
Changes
 Laws, regulations
 Compliance
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Timely subjects
Timely updates
Education
Information to save time, improve professional
and personal lives

21. Sending Schedules
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Time of send can affect opens
First thing in the morning generates the highest opens
 Tue, Wed and Thu are the best launch days
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If messages are regularly scheduled, Clients begin to
expect them and get in the habit of reading them
 Communications sent out daily (+27.8%, +100.3%)
 Communications sent out weekly (+27.1%, +50.6%)
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Messages shouldn't be scheduled too infrequently
 Communications sent out “Monthly” (-26.6%, -37.0%)

22. Tips for Improving Return on Campaigns
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Avoid list fatigue
 The more often you send, the lower your key metrics will be
 But infrequent messaging can also affect your key metrics
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Test campaigns regularly
Validate list recipients
Improve subject lines
Improve content relevance
Use landing pages to give unsubscribe options
Consider calling people who unsubscribe

23. Subject Line Analytics
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Some words work better for opens or clicks
 “Newsletter”
has a slight positive effect on opens,
(+0.7%)
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But a strong negative effect on click rates (-18.7%.)
 “Alert,” (+38.1%
opens) (+61.8% clicks)
 “Bulletin” - (+15.8%, +12.7%).
 “Report” (-23.7%, -54.8%,)
 “Learn” (-35.5%, -60.8%,)
 “New” (+17.2%, +38.2%)

24. How and What to Test
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Use about 10% of your list to get good data
Test e-mail deliverability and recipient preferences
 Subject lines
 Time of the day or week
 Which segments respond
 Content
 Text vs. graphics
 Layout of information
 Unsubscribe wording
 Surveys

25. E-mail Analytics
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Open rates can be deceiving due to the way they are
tracked
 Up to 50% of emails are delivered to subscribers unable to
register opens
 But they can still be valuable benchmarks
 Open rates of 25%+ are considered good
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Highest open rates come from clients and former clients
 Prospects are the lowest
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Click thrus are good metrics of campaign success
 Demonstrate engagement
 Are in decline

26. Opportunity management
Stage 1
Initial Contact
Bay Bank, Joe Reed;
Catch up lunch
Mitre Inc, Sue Glade;
Met at ABA CLE
NoCal Power, Jeff
Lisso; Ref by ASD&R
Convo Destin, Gene
Inello; New GC mtg
City Construction, Ed
Flister; RFP rec'd
Raytheon, Lucy Arroz;
Webinar attendee
Clifton Pubs; Neil
Nolan; inbound call
GE Aircraft; Bo Little;
Network referral
Stage 2
Fact Gathering
Lazlo Mendel et al,
Tony Monte, ptnr
Lit co-counsel oppty
Brighton Bank Ltd
Stuart Grady - London
debt restructuring
Sun Apparel
Chas. Marin - Atlanta
RIF
Quantralis
Silber - NYC
option backdating
AirPeru
Jose Denon - Atlanta
class action defense
Stage 3
Needs Analysis
BioVate Labs
Antitrust defense
Ron Keltner - NYC
next mtg 7/23/09
Stage 4
Proposal
Stage 5
Close
Major Ventures, LLP
xchange delisting
Torango, Silber - NYC
meet CFO 7/7/09
Tolliver Industries
Patent litigation
Steve Testke - Chi
$725,000 / Aug 09
S'western Power
Water filtration plant
Brent Day - Houston
proposal due 7/20/09
Banco de Espana
Airport development
Kent Linert - NYC
$110,000 / Jul 09
Ritter Corp
Whistleblower def.
Aimee Mann - Atlanta
$275,000 / Jul 09
80% probability of closing
within 3 weeks, leading to
$100k billables in Q1,
$150k in Q2, $50k in Q3
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

27. Resource allocation
There is an inevitable and inexorable migration of products and services from
leading edge to common place, whether the provider likes it or not
Strategic
Rates
Supply
Important
Repetitive
Repetitive
Repetit
ive
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

28. Committees and conferences
Visibility & Credibility
Leading Expert
Board
Committees
Demonstrating
Expertise
Submit Articles
Speak at Conferences
Networking &
Education
Attend Meetings, Educational sessions
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

29. Event management
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

30. Event management
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

31. Event management
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

32. Share of voice
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

33. RFP management
The usual process
• Always in a rush
• 95% about us
• Deal lists, representative matters, bios
• Never call to clarify
• Last second drop-in of mystical pricing
The usual result
• Who cares? We pitch what the partners tell us to pitch!
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

34. RFP management
Winning Characteristics
• Potential alternative
solutions
• Early
• Client prep call/test close • Proposed project plan
• Proposed budget
• 95% about the client
• Clear problem statement
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

35. Improving Efficiency
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36. AFA profitability
www.integratedmgt.com
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

37. Consider Outsourcing ROI
• Can things be mandated?
– If not, can they be automated?
• Integration with other systems
• Automated data feeds
• SIC or NAICS codes
– Or outsourced
• Outsourced data quality
– Enhancing information with company
or industry information
– Adding existing CI data to records

38. Client satisfaction
Repetitive
Repetitive
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission

39. Final Success Tips
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Be patient
Don’t try to do everything
Small wins, communicate successes, repeat
Focus on best practices
Don’t reinvent the wheel
Don’t do it alone - reach out for help

40. WEISERMAZARS SERVICES
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Audits
Reviews
Compilations
Reporting on
Controls of Service
Organizations
Reconciliation
Projects
SEC Filings
International Needs
(inbound, outbound
and IFRS)
Special Purpose
Reports
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Compliance
Consulting
Tax Reporting &
Withholding
FATCA
SALT
GAAP/IFRS
Disclosures
Cost Segregation
Trust and Estate
Planning
High Net Worth
Services
Corporate Structure
International Tax
FBAR Reporting
Pension, Benefits and
Compensation
Personal Financial
Planning
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Internal Audit CoSourcing and OutSourcing
Risk Management
Consulting
Fraud Assessment
Services
Information
Technology Security,
Strategy and Solution
Selection
Other Services (SOD
analysis, PCI
assessment)
Disaster
Recovery/Business
Continuity Services
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Visit us at: www.weisermazars.com
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Due Diligence
Valuations
Litigation Support
Bankruptcy
Turnarounds
Investor and Lender
Services
Fraud Investigations
Business Advisory and
Recovery
Project Finance and
Financial Modeling
Services
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Sourcing
Strategy
Finance Process and
Systems
Operations Process
and Systems
Information
Technology
Tax Sensitive Design

41. Timothy B. Corcoran
Chris Fritsch
Principal
President
CLIENTSFirst Consulting, LLC
404.249.9914
CF@ClientsFirstConsulting.com
ClientsFirstConsulting.com
Twitter: @CRMSuccess
Corcoran Consulting Group, LLC
609.557.7311
tim@corcoranconsultinggroup.com
CorcoranLawBizblog.com
Twitter: @tcorcoran
© 2013 Corcoran Consulting Group, LLC and CLIENTSFirst Consulting, LLC, used by permission