Checklist: Client Development Products & Services from LexisNexis
By Bridget MacMillan
Over the past eight years, I have observed dramatic changes in the world of law firms. Client development, for example, has undergone seismic shifts.
Not too long ago, client development, that is, growing business through targeting new clients or by increasing work from current clients, was an informal function. It depended on referrals from current clients and on networking at private golf
outings and at private clubs and organizations. Attorneys trusted word-of-mouth introductions and connections to increase business.
As the practice of law adopted business principles, formalized client development procedures were introduced. Marketing departments were created. More recently, business-intelligence tools and business-development professionals have joined
law-firm teams.
As librarians, we have long supported client development, providing research like credit reports, news articles and court records regarding new and potential clients. With the advent of the marketing department, we often work in conjunction with marketing professionals to design standardized reports and to educate them on appropriate resources.
Plus librarians recognize the need to educate management teams and practice groups about tools and products for evaluating current clients for additional work opportunities and for tracking markets and industries to see what potential opportunities are available or growth trends exist.
As more client-development tools and products become available, I thought it would be helpful to gather the offerings from LexisNexis into a checklist for you.
The LexisNexis client-development portfolio—part of LexisNexis Total Practice Solutions—provides the resources necessary to market and grow a firm effectively. Through a combination of products and services, you have the essential tools to build your brand, segment your markets, uncover new business opportunities and provide exceptional client service. For example:
- LexisNexis® Market Intelligence (LNMI)—Use it to gather litigation trends and business and news information that can be used to identify and evaluate growth opportunities among both clients and prospects. LNMI gives you the information you need to make quick, smart decisions about targeting and cross-selling opportunities to improve revenue and monitor ROI through client share.
- LexisNexis® Total Search Expertise—helps you quickly and efficiently locate areas of expertise and centers of excellence as well as key client and prospect information within your firm.
- The Wall Street Journal® in Association with LexisNexis—provides your firm with the definitive business news source. Gain a strategic advantage and make better-informed business decisions.
- LexisNexis® Alert—keeps you informed on breaking news about your clients or prospects.
- LexisNexis® CourtLink® Alerts—stay informed on new court filings involving current clients or prospects.
- Martindale-Hubbell®—the authoritative resource for information on the legal profession, this legal network is not only the primary source for data on the worldwide legal community, but also a multimedia legal marketing tool.
- Mealey Publications™ and Conferences—provide you with highly targeted legal news reports and sophisticated conferences. Here you will find leading trends and breaking news in various practice areas.
- LexisNexis® InterAction®—the leading client-relationship management (CRM) platform in professional services firms. Use it to create the relationship intelligence you need to uncover new business opportunities and enhance client service quickly, efficiently and cost effectively.
This is just an overview. But if you’re interested in learning more about LexisNexis Client Development offerings, register to gain access to the upcoming LexisNexis Librarian Web seminar, Client Development—Show Them What You Know! It is available starting March 16. To register, go to www.lexisnexis.com/webseminars
Or contact your LexisNexis Librarian Relations Consultant for an in-depth demonstration of the products and services. You are in the position to use and recommend these products and services. Here’s an opportunity to ensure your services are an indispensable part of your firm’s client-development evolution.
