The Cost of Inaction: Why Your Law Firm Needs To Be Using A CRM

With Upper Sigma and Introhive

Author: Eilidh McDade

During the pandemic, the legal industry was in a very unique place, with firms announcing record profits in 2020, with a good portion of those profits coming from very low expenses. There was a 7% rise in the number of firms that had an increase in profits per partner, however, the growth of the industry itself was down about 1% for the third straight quarter. So, despite increasing profits but decreasing growth plus the transition of working from home, budgets only increased by 2.4% over 2019. I will be discussing how using a CRM, and more specifically with the help of Introhive and Upper Sigma, can revolutionise the way you work.

Firstly, Who is Introhive? (If you don’t already know!)

Founded in 2012, Introhive is the fastest growing B2B revenue acceleration solution, recently recognised as a category leader in sales intelligence and data quality management software by G2 Crowd, a top 10 fastest growing technology company in Deloitte’s Fast 50 Awards two years in a row, and the MarTech 2020 Breakthrough Award winner for Best CRM Innovation.

Introhive has grown quickly to over 350 employees with 10 global office locations, supporting over 250,000 customers in over 90 different countries around the world.

Trusted by Industry Leading Brands

PwC’s Philip Grosch, Partner Global Salesforce Transformation, weighs in on the value of Introhive to the firm’s global adoption of Salesforce CRM with over 100,000 users across 90 countries. To see the interview with Philip Grosch and the unbelievable value that Introhive has brought to the team Click Here.

Why Now?

Taking into consideration the time and money spent on video conferencing software or other types of technologies such as Microsoft Teams, firms also had to work on privacy issues. After the investment on all these infrastructure projects, there was the added pressure on marketing and business development teams to do much more with less.

For the Marketing Team:

Partners are looking for a similar type of growth, expecting the marketing team to drive more awareness and increase events in order to gain clients or to actually expand the client footprint that they already have.

For the Business Development Team:

This is similar to the business development teams who are going to need to find more opportunities and be able to give better insights to their partners so that they can look for new business with existing or prospective clients.

This can all add up to a lot of extra pressure on these teams and across the firm, and here at Upper Sigma alongside our partner, Introhive are here to provide a solution!

Our Aim?

Partners and professionals are not in the business of wanting to input data. We know that creating a system build on data will have to be done through automation and AI. Partners and all members of the team need access to information so that they can make better decisions, they will then know what’s happening with their clients and will be able to see if they can find new business from existing business. This is where Introhive comes in being able to identify those contacts, enrich them with robust, accurate information and push it into the CRM allowing the partners and professionals to be able to see what’s happening in real-time.

Partners and business development managers are often unsure who knows who across their clients, prospective clients, or even partner organisations and so even if your firm has 200 clients or 20,000 it is very critical to be able to see relationships cross-office, cross regions, and across continents.

To continue the conversation and to see firsthand the capabilities of Introhive and Upper Sigma, please take a look at our recent Webinar

Upper Sigma is a Salesforce Solutions Integrator and Independent Software Vendor specialising in the Financial Services and Legal industries.