When it comes to business growth opportunities, you need to strike while the iron is hot. But, with teams working remotely could the dreaded data silos return to damage what you’ve worked so hard to eliminate in your firm? In these uncertain times, with daily twists and turns, knowing what the opportunities and risks are across your firm are vital for growth and revenue protection.
With this year’s Annual Law Firms’ Survey 2020 from PWC highlighting that 81% of Top 100 firms are concerned COVID-19 will stop them meeting their financial ambitions, the ability to spot opportunities is vital. Being able to visually see when the last contact was made with key clients and knowing when communication has lapsed is one sure fire way of being able to act swiftly and avoid missing any opportunities.
This is key when teams are remote. Being able to understand the data held within your firm, regardless of where you are based, will help guide your next move. You can establish clear expectations, drive accountability and ensure that your team can focus on the most important contacts.
A simple installation of a software platform such as Client Sense is the solution. Client Sense updates itself automatically, working behind the scenes, collecting the data it needs to help you identify the relationships held by the firm. Ultimately it can flag those potential opportunities and help you avert risks.
You should always be aware of staff changes on your client side that may impact your ongoing commercial relationship. With the constant daily changes and remote working, identifying those external contacts who may not be replying or no longer available is crucial.
In assessing live communication across all of your client, contact and referrer relationships, Client Sense can detect a ‘drop’ or an absence of communication which may indicate that the key external contact is no longer available.
Being able to identify staff changes quickly can help you to protect the client relationship before it strays. This data-driven insight means you can assess the best placed staff member to step in and protect the client relationship. And, if an external contact changes organisation, leverage this knowledge as this potentially opens a new and welcome opportunity for the firm to engage with the contact at the new organisation.
Cross-servicing or cross-selling is vital for any business growth strategy. Your key relationships hold a wealth of opportunities which can be found purely based on relationship intelligence from prior contact. Client Sense identifies where beneficial introductions have and have not been made.
Client Sense is a unique and powerful data-driven tool that will reshape the way your professional services firm approaches and implements business development initiatives.
Talk to us about getting your software application platforms working together to support your firm’s organisational objectives and strategic goals…