Posted by: johnocunningham | June 13, 2016

Law Firms Using More Data Analytics To Enhance Client Development

According to a 2015 law firm survey that appeared in LegalTech News, 64 percent of law firm chief information officers indicate that their firms are now using “data analytics software” or “big data tools” to learn more about clients and prospects, and/or to focus on business development efforts that work.

That figure is trending upward, and demonstrates that law firms are devoting more attention and resources in support of a scientific approach to client development.

There are many ways to use “big data” to enhance business development, but here are just a handful of  ways that law firms can make use of data digging and analytics:

  1. To find out what kinds of content clients and prospects are reading and where they are getting it;
  2. To find out what kinds of business and legal issues clients and prospects are concerned with most;
  3. To research and leverage all of the untapped connections the law firm may have to clients and prospects through lawyers and staff alike;
  4. To determine who opens law firm newsletters and emails, who unsubscribes and why they do so;
  5. To analyze the effectiveness of various business development efforts in terms of results vs. dollars invested.

For a look at how other marketing experts leverage the use of “big data” as part of their marketing strategies, check out this NG Data article by Angela Stringfellow.

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