CASE STUDY – After we created a bespoke workflow database for a professional legal services company, they were able to convert more enquiries into clients.
We helped a law firm which offers a full range of legal services, including both personal and corporate law.
The firm asked us to design and implement a leads workflow database. This needed to manage the multiple streams of incoming enquiries from potential clients. Prior to this the firm had been using Excel to track leads, but something more sophisticated was required to move the business forward.
After spending several days with the firm learning how their processes worked, Richard from i-systemise designed a bespoke tool that provided real time visibility of the business’ enquiries.
Amongst other things, the tool was able to identify where an enquiry came from – for example, whether it came via the website, an email, a referral, a telephone call or a walk-in enquiry. It was able to identify the nature of the enquiry or the service required, and a cost could be associated with this. A potential instruction could also be assigned to a fee earner.
Every entry in the database was date stamped. This enabled the firm to calculate how long it took to respond to enquiries and how long it took to convert an enquiry into a client. The response process was aided by the fact that Richard incorporated scripts and template emails and letters into the tool, all of which could all be generated through one-click automation.
Straightaway the firm was able to collect invaluable data regarding their enquiries. It provided complete transparency on all their incoming leads, and they were able to analyse their enquiries according to different factors such as popularity, time and cost.
The firm could then forecast its projected income, as they could see what instructions they were winning and the costs associated. But more importantly, it was able to determine the conversion rate, which at that point was around 20%. This served to highlight the business opportunities they were losing, and in turn, the potential revenue they were losing.
This spurred the firm into action, and before long they had implemented a plan to improve their conversion rates. It was able to look at the reasons why certain leads did not convert – perhaps it was price or time sensitive, or a ‘not now’ scenario, meaning they should continue to market to the prospective client.
The firm was only able to create and enforce this business plan because of the data they had. With this information were they able to understand why certain leads were not converting and adapt their systems and services accordingly. As a result, the firm immediately began to generate more business.
In God We Trust, All Others Must Bring Data
The great guru of business systems, Dr Edward Deming, once said – “in God we trust, all others must bring data”.
In other words, you may place blind faith in religion, but for everything else, you need cold hard data to substantiate your actions. “Without data”, he said, “you’re just another person with an opinion.” This is particularly true in business, because without data, you cannot measure the success and failure of your company.
Just ask yourself – do you know how many leads you are generating and where they are coming from? Do you know the costs of these enquiries, or the lost opportunities? Do you know the reasons for those lost opportunities? Do you know how much work is in your pipeline? If not, then could you do with a similar tool to help manage your enquiries, and increase your conversion rate and income?
If so, please get in touch with us to find out how we can help you and your business. Email firstname.lastname@example.org, call 07771 775741, or fill out free online enquiry form https://www.i-systemise.co.uk/#contact