Playbooks are used to help clients identify opportunities. Integrating our systems and tools is one of the biggest problems we face. Despite all the data advances, I find that the tools don’t communicate with one another as well as they should. This presents an opportunity.
best law firm in the world
LS We calculate Net Promoter Scores (NPS), which are used to measure client satisfaction, willingness to refer others to us, and willingness to use us again.
Through client surveys and conversations, we uncover the key factors that contribute to NPS. We also use other factors such as comments from clients and general comments to determine what is affecting the score. We attempt to identify what results in high scores (9s and 10s on NPS scale). This allows us to understand the underlying components of NPS scores and client priorities and needs.
It has been so easy to talk to attorneys and see NPS as a data perspective. It has helped to improve pricing and billing practices, as well as revealed other factors that make clients happy with car wreck lawyer houston TEXAS. This has resulted in a sense of empowerment and engagement among the lawyers, who now feel more in control of their clients’ happiness.
Another thing we are working on is a revenue dashboard. While we have always reviewed financial trends in general, we recently took a new approach and built a dashboard that reviews 12 rolling revenues to report on growth trends and velocity. This has led to important questions such as “What is a healthy amount new revenue?” or “What is good annual growth,” something that you rarely hear about in the industry.
We find it interesting that all of these projects push us to dig deeper to discover performance drivers and improvement areas.
Are you looking for data positions and roles?
DO: We have a data scientist as well as several data analysts who work on client matters. We also have four data analysts within our finance department, as well as data analysts on the SeyfarthLabs research-and-development team. To understand the needs and problems of our clients, our financial team analysts are integrated into practices. This SeyfarthLabs group can access systems such as Foundation (experience management system), Knowledge management, and financial systems. These data can be linked together for visualization and dashboarding.
AS We have several analysts, one of which is a data scientist. These resources are not part of the business development function. Our data scientist is a genius and can do anything with data. He works closely with the client solutions team, which manages pricing models and legal project management.
My business development managers have data as part their job responsibilities. It is essential that they understand data to tell a story about client relationships. It is now an integral part of client strategy and relationship building.
It is a common practice in our industry to present and discuss facts. Therefore, it is important that all members of the team have data competence.
LS We have two analysts in our finance department and are looking for a third. One analyst is focused on pricing, while the other generalists are available. Our team, which typically includes myself, the CFO, and an analyst, works together constantly to uncover insights. We are still trying determine which stories to tell and what data we need. We are still in the beginning stages of discovery, and we enjoy working together to put this all together.
How has this changed the way you work on projects or manage them?
DO: We have the dashboards. It took some time but attorneys can look at their data. My team also has access to the data of their respective practice departments. If necessary, they can click-through for more detail data.