ROI: How CRM Can Boost Revenue, Case Study by Foster Swift Collins & Smith, PC

Customer Relationship Management - puzzle 3d render illustration

Part 1 of our five-part series on ROI:  How CRM Can Boost Revenue, a Case Study by Foster Swift PC

 
Wouldn’t you like to see numbers like these at your firm?

  • $53,463 in annual savings on newsletter costs
  • 200% increase in the number of newsletters
    sent out annually
  • 700% reduction in time spent on data entry
  • $15,600 in annual savings on list management costs
  • $121,973 in fees from three new Ag Law clients
  • 149% ROI on your CRM investment

Those are just some of the benefits that Foster Swift Collins & Smith, PC, a 95-attorney law firm based in Lansing, Michigan, has realized from implementing ContactEase CRM — and that your firm can enjoy, too. Others include a more accurate and easier-to-update database of 42,000 records, the ability to readily track and manage business development activities by type, and the ability to manage client compliance with employee benefits laws and maintain related forms and correspondence.

According to Kimberly P. Hafley, Director of Marketing & Recruitment for Foster Swift, here’s why the firm chose ContactEase and what it did to realize those benefits and facilitate business development.

Need

When Kim joined Foster Swift in 2009, the firm had seven databases, including 7,000 records that were only on old-fashioned paper Rolodex cards. Entering data and maintaining records was a nightmare. As a result, many people were getting multiple copies of mailings, or mailings were returned as undeliverable. The costs were huge. For example, for one estate planning mailing that required an oversized envelope, the unit cost was $2.50. Of the 4,000 mailed, 500 came back — a waste of $1,250.

The firm had tried but failed twice to implement CRM. One reason was that CRM was totally Marketing’s responsibility, but Marketing did not have access to all information, and there was no system for getting database changes to Marketing. So if Marketing was not given a new name or address, the database was not updated. Another reason was that the CRM system was proprietary, so it didn’t interface with anything else and was the equivalent of adding yet another database. “The partners thought that all you had to do was buy a CRM program, plug it in, press a few keys and everything would magically work,” says Kim. “Of course, it didn’t.”

The catalyst for trying CRM a third time was a mailing that went to the home of an important client who had given strict instructions that nothing was to be sent to his residence.  This event resulted in a prominent senior shareholder sharing his displeasure with both Kim and the firm’s Executive Committee, resulting in approval to research CRM options.  So Kim asked a consultant that had helped her successfully update Foster Swift’s website to recommend a solution.

View More: http://benjamindavidphotography.pass.us/foster-headshots
“I was very gung-ho and thought we would be able to go all-out with CRM right from the start. But Jennifer and Chris noted that our firm had already had two failures and suggested that we slow down and take baby steps.  — Kim Hafley, Director of Marketing, Foster Swift

Kim was referred to Chris Fritsch, who consults with law firms on CRM.  Chris suggested that they look at three CRM providers, including ContactEase CRM from Cole Valley Software. Kim talked about ContactEase with several firms that use it, including Ulmer & Berne in Columbus, Ohio, Sherin & Lodgen LLP in Boston, and UHY LLP in Chicago. She was impressed by what she heard, as well as by the helpfulness of Cole Valley CEO Jeff Reade and Chief Brand Officer Jennifer Whittier in identifying what she needed to do to successfully implement CRM.

“I was very gung-ho and thought we would be able to go all-out with CRM right from the start,” Kim says. “But Jennifer and Chris noted that our firm had already had two failures and suggested that we slow down and take baby steps. We had to get clear about what we needed and get buy-in from the attorneys before we launched a new system.”

What’s up next week  – Part 2 is Planning…ROI:  How CRM Can Boost Revenue, a Case Study by Foster Swift Collins & Smith, PC. For the full whitepaper visit our website – http://colevalley.com/Resources.aspx

 

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