On the 12th day of CRM Chris “Kringle” Fritsch explained to me, how law firms can use pipelines successfully!
Outside of legal, we are seeing many professional service firms wanting to implement business development pipelines to increase their BD efforts. This is an exciting step in the right direction because it is starting to trickle into the legal industry as more firms build their pipelines.
While many other professional service firms have more sophisticated pipelines that support the marketing, business development and sales teams, law firms are slowly catching on.
A few firms we’ve talked to are trying to implement RFP pipelines to track pitches and proposals. RFPs can be more challenging to track given that some attorneys are reluctant to share this information.
Firms that are starting to track this data have greater clarity when approaching an RFP. They can now see who oversees the initiative inside the firm, who is their main point of contact with the client, what materials have been sent to them and where they are in their lifecycle stage.
You don’t have to track all of this manually as it can be maintained in a spreadsheet. But some firms already have so many spreadsheets that a new one will just get lost in the mess. This is why implementing a pipeline may be beneficial for a firm that has poor data management practices.
Watch as Chris Fritsch explains the importance of pipelines and how law firms can use pipelines to grow their business:
Click here to watch video.
