- Law Firm CRM Initiatives are Mature. 48% of respondents stated their firm’s CRM initiative was more than five years old. Another 23% put the age between 3 and 5 years. About one-third say their CRM projects are less than a year old.
- Law Firm CRM Spending to Rise. 63% of survey takers said their firm will fund additional CRM investments in the next 12 months. 53% either “strongly agree” or “agree” they will upgrade their firm’s existing CRM in the next three years.
- Law Firm CRM Seeing ROI; Success. 50% of respondents “strongly agree” or “agree” their law firm is seeing measurable ROI from their CRM initiatives. Absent ROI, when asked whether or not the CRM project was successful, a plurality of 41% said their CRM project was a success.
- #1 Barrier to Success is a Lack of Employee Buy-In. 33% of respondents reported “lack of employee buy-in” as the top barrier to CRM success.
- The Difference between Success and Failure. Analysis suggests firms with successful CRM projects are more likely to implement CRM as a firm-wide, strategic process, which accounts for the human aspects of change management, rather than merely a technology implementation.
- Successful CRM Projects Yield Better Client Relations and Cross-Selling. More than 50% of respondents cited “better client relationships” as the primary benefit as the result of a law firm CRM project. Another 48% cite “improved ability to cross-sell.”
The survey is freely available in a slide presentation on the InterAction blog Make More Rain:http://makemorerainblog.com/2013/survey-law-firm-crm-2013/ . About LexisNexis Legal & Professional LexisNexis® Legal & Professional is a leading global provider of content and technology solutions that enable professionals in legal, corporate, tax, government, academic and non-profit organizations to make informed decisions and achieve better business outcomes. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. Today, LexisNexis Legal & Professional harnesses leading-edge technology and world-class content, to help professionals work in faster, easier and more effective ways. Through close collaboration with its customers, the company ensures organizations can leverage its solutions to reduce risk, improve productivity, increase profitability and grow their business. Part of Reed Elsevier Inc., LexisNexis Legal & Professional serves customers in more than 100 countries with 10,000 employees worldwide. LexisNexis helps professionals at law firms and legal departments of all sizes manage the business element of their practice or departments with innovative software and mobile solutions for customer relationship management, competitive intelligence gathering and assessment, time and billing management, matter management, client analysis, legal holds and more.