Qorus’ State of Legal Marketing and Business Development Report Signals Positive Outlook

Global News

15
Dec
2020

Editor

Qorus Software, a cloud-based proposal management platform for multinational law firms, today published its inaugural State of Legal Marketing and Business Development Report.

The 10-page report includes insights into marketing technology purchasing, 2021 technology budgeting, use of MarTech during the pandemic, and, how, overall, law firm marketers are coping and thriving during COVID.

Law firms have put their best foot forward when it comes to transitioning to remote working and marketers are increasingly collaborating with IT, administrators, their attorneys, and clients to establish legal technology best practices as well as select, implement, and use the best marketing tools and solutions for the job. Law firm marketers are sharing knowledge faster, collaborating firm and client-wide, and are thrusting technologies like CRM, data analytics, enterprise search, experience management, pursuit/ proposal management, and firm extranets into the spotlight.

Qorus distributed a 15-question survey to law firm members of the Legal Marketing Association and International Legal Technology Association and consulted with legal industry peers including clients and legal marketing commentators and influencers to assemble the “State of Legal Marketing and Business Development 2020/21: Reality and Future” Report. In total, Qorus received 25 completed surveys in addition to the one-one conversations and discussions.

“Without a doubt, this new normal has brought the legal community closer together, further evidenced by some of our findings regarding the demand and rise of collaboration tools,” stated Ray Meiring, Qorus Software’s CEO and Co-Founder. “Collaboration is part of a broader push to further leverage critical MarTech including CRM, experience management, analytics, and pursuit/proposal management.”

Here are key Report take-aways:

• Marketing technology budgets show promise: Contrary to popular belief, budget projections heading into 2021 are not as depressing as once believed. While 69% of survey respondents will have similar budgets to work with year-to-year, 23% expect increases in what they have to spend on legal technology.
• Data analytics in prime time: 42% of report respondents cited “accelerated use of data, metrics, and analytics to provide the most measurable value” during the pandemic. Look for an expansion of analytics applications and investment headed into 2021.
• Essential MarTech to the rescue: Legal marketers are increasingly relying on CRM, data analytics, experience management, pursuit and proposal management, and enterprise search. Top uses of marketing tools and services include knowledge and experience sharing, collaboration, winning new business, and extranet functionality.
• Attorneys and clients as tech deciders: As firms band together internally to make it through the biggest crisis since the Great Recession, the procurement and use of technology is taking on a critical role, as well as those who make buying decisions. Beyond IT (65%), firm administration (Executive Director, Chief Administrative Officer) (54%), attorneys (42%), firm clients (31%), and marketing/business development (31%) are integral in the legal technology purchasing process.
• Proposal tools on display: Tools and technologies used for pursuit/ proposal/RFP management are getting more attention … in an effort to further aggregate information and automate repetitive processes. Industry-wide, new business pitches are up, and professionals and comprehensive RFPs are more vital than ever.

The 10-page Report is now available. Also, Qorus has developed a Report-specific blog post.