Market Areas > Practice Management > Origination Credit

Origination Credit and Cross-Selling Legal Services

Course Description:

My firm can't cross sell. What are we doing wrong? Trust us, it's not just you, many law firms struggle with cross-selling different practice areas to existing clients.

Yet cross-selling is more important than ever. In fact, according to new research, Fortune 1000 corporations are using 20 percent fewer core law firms than they did a year earlier. This means that the law firms that successfully cross-sold their practices will likely get the available work.

So what are law firms to do when so many cross-selling initiatives fail, or fall on deaf ears? Two words…origination credit.

Most current compensation systems reward lawyers for origination or ‘new business’ as lone wolves. Since origination = money, few lawyers are skipping joyfully into cross-selling initiatives.

How many times have you heard these excuses:

1. "There are no opportunities with this client outside of my practice area."
2. "We don’t handle that type of law."
3. "I don't think Jim would be a good personality fit with ACME Co.”

The key to successful cross-selling initiatives is to look at how to turn selling into a team sport, and manage the origination that ensues.

CoursE highlights:

This must-attend audio conference will explore the Dos and Don’ts of origination credits and cross-selling legal services in the new normal.  In just 75-minutes our expert faculty will explore: 

• Forever credit and when the sun should set on origination
• Methods to manage the sharing of 'origination credit' with other members of the firm for cross-selling
• How current origination disbursements are killing cross-selling, and what to do to squash the silo mentality
• How to meld cross-selling activities with the compensation review process
• Which metrics matter and how to measure what will make the firm money
• Why “eat what you kill” is fatal to cross-selling, and some real life alternatives to this old school system   

faculty:

Martha Cusick Eddy, Director, NCG Strategic Marketing

Martha helps companies build sustainable customer/client relationships and carve out defensible market positions that offer long-term competitive advantages. In her 20 year career, Martha has worked with architects, accountants and lawyers to research and define their markets, identify powerful market and sales positions, and create sales and marketing initiatives that achieve results. In addition to her work with NCG Strategic Marketing, Martha is the Founder and Managing Director of Market Advisory Partners.

With a background in market research, Martha can capture client and customer requirements, needs and wants and translate those into sales and marketing strategies that build business. Martha has worked with many market leading firms in professional services, including Hogan & Hartson, Brownstein Hyatt Farber Schreck, BBC Research & Consulting and RNL Design.

Active in the community, Martha currently serves on the Downtown Denver Partnership’s Marketing Advisory Council, an invitation-only position, and is a member of the DDP’s membership committee. Additionally, she was president of the American Marketing Association, Colorado Chapter, and the Rocky Mountain Legal Marketing Association. In 2003, she was named to the Denver Business Journal’s prestigious 40 Under Forty class. She is a U.S. patent holder and Law Week Colorado named her the “top marketing expert to build your career” in 2009.

Kimberly Alford Rice, Principal/Business Development Advisor, KLA Marketing Associates

Kimberly Alford Rice provides strategic marketing and business development services to help lawyers generate greater revenue with higher quality clients. Through focused business development skills training and one-on-one coaching programs, Kimberly collaborates with law firms and hundreds of lawyers to guide and assist them in building, growing, and sustaining a healthy client base and educates them on how to exceed clients’ expectations and increase revenues.

For over 18 years, Kimberly served on and for senior management teams with three corporate law firms in the metro Philadelphia area where she led strategic marketing programs to develop and execute firm-wide marketing plans including individual attorney marketing planning; associate and practice development training programs; firm brand strategy/execution, and other strategic initiatives. Sometimes serving as an on-call or virtual marketing director, Kimberly has built comprehensive, integrated communication programs to produce measurable response and results for her professional services clients. She effectively works with all levels of an organization to bring an institutional awareness and understanding of strategic business development, marketing, and client service principals to enhance the efficacy of a firm’s operations, increase clients’ satisfaction, and generate greater revenue.

Among her professional activities, Kimberly serves as Editor-in-Chief of ALM’s monthly Marketing the Law Firm publication, is a member of the international Legal Marketing Association and serves on the Board of Directors of its Metro Philadelphia chapter. She is a member of the ABA and its Law Practice Management Section as well as the Delaware Valley Law Firm Marketing Group.

In addition, Kimberly is a member of the Philadelphia Bar Association (Law Practice Management Section) and is Chair of Camden County Bar Association’s Law Practice Management Committee. In other business activities, Kimberly is a member of the Camden County Regional Chamber of Commerce and eWomen Network.

Joel A. Rose, Certified Management Consultant and President, Joel A. Rose & Associates, Inc.

Joel A. Rose is a Certified Management Consultant and President of Joel A. Rose & Associates, Inc., management consultants to the legal profession. The firm, national in scope, is headquartered in Cherry Hill, New Jersey.

Mr. Rose received a B.S. from New York University and an M.B.A. from the Wharton Graduate School of Business, University of Pennsylvania. He has extensive experience consulting with private law firms, corporate law departments and government agencies. Mr. Rose performs and directs consulting assignments in law firm management and organization, strategic and financial planning, lawyer compensation, the feasibility of mergers and acquisitions and marketing of legal services. He has extensive experience planning and conducting retreats and special expertise resolving problems among and between lawyers.

Mr. Rose is a guest columnist on law office management and economics for the New York Law Journal and has had numerous articles published in the Philadelphia Legal Intelligencer, the Pennsylvania Law Weekly, the New Jersey Law Journal, The Law Firm, Inc., chapter publications of the Association of Legal Administrators and other state and local bar association journals. Mr. Rose is a contributing author of the book, Model Partnership Agreements for New York Law Firms, published by the New York State Bar Association and of the monograph The Quality Pursuit, Assuring Standards in the Practice of Law, published by the American Bar Association.

Mr. Rose is on the Board of Editors of Accounting and Financial Planning for Law Firms and Law Firm Partnership and Benefits Report. He Chairs the Finance and Management Subcommittee of the Law Practice Management Section of the New York State Bar Association and the Continuing Legal Education Committee of the New York State Bar Association. Mr. Rose is a member of the Law Practice Committee of the American Bar Association and the coordinator and moderator of the Annual Conference & Workshops on Law Firm Management & Economics.

MONEY-BACK GUARANTEE:

We're so confident you'll get what you want out of this conference that we'll refund every penny if you're not completely satisfied. No questions asked! It's 100% risk-free!

Pricing:

Unable to Attend?  Order the CD!

Your CD recording includes the complete audio conference presentation, audience Q&A and presentation materials.

Each CCM event presents a variety of information and is presented for each organization to develop its own approach and methodology.