Overview of RFP Landscape in Legal Market
We give an in-depth presentation on the trends we are seeing in the legal market related to RFPs and how they have evolved. We’ve overseen 1,000’s of RFPs in the last 5 years and share my insights with your firm and marketing team.
This includes best practices, obstacles to avoid and ideas on how to prepare your firm so that you can best position your firm to be selected.
We share case studies and examples of RFPs across all industries and of companies large and small and provide insight into how and why firms are being selected.
Set up In-take and Review Process
We work with the law firm marketing team to create an intake system, which includes templates and a step-by-step process to follow that is customized to your firm’s culture.
Creation of Standard Language Repository
We work with the marketing team to create a standard language repository so that they are not re-creating the wheel for each RFP. This involves working with other departments in the firm that are often asked to provide information such as conflicts, billing, cybersecurity and IT.
Install a Pricing Review and Approval Process
We work with the firm’s pricing director to install a system that makes handling the pricing related questions in RFPs more efficient.
That also includes incorporating a review system to ensure firm management reviews and approves pricing proposals to ensure the firm understands the expected profit margins being proposed.
Install an RFP Tracking System
We work with the marketing team to create a tracking system so that the firm tracks each opportunity and captures all the relevant information so that you can properly report back to management an analysis of the opportunities and how the firm approached them.
We work with the marketing team to create a feedback system so that the firm is learning why they won or lost the RFP.
This includes creating a template of follow up questions so that you are collecting as much data as possible to support your reports to firm management.