Pipeline to Success – Part 1: Law Firms Finally Embracing CRM for Business Development Tracking
What gets measured gets done. This can certainly be said about “non-billable” activities in law firms. For anyone familiar with attorneys, this is not surprising. Busy lawyers are tasked with competing demands for their very valuable – and very limited – time. And for lawyers, time is money – literally. So when there is client work to be done, anything that takes away from billing often ends up being put off until they have time – which sometimes means indefinitely.
Business Development Pipeline Saves Time
But as competition for work has increased recently, law firms are finally being forced to focus on the one non-billable activity that makes all the other billable activities possible: business development. As a result, attorneys have learned that successful business development takes time. So, not surprisingly, they are now searching for technology to make this process less time-consuming and more effective. One type of technology that can help enhance law firm business development efforts has actually been ubiquitous in other industries for years: the business development pipeline (of course, most other industries call it a sales pipeline, but let’s not split hairs)….