15 OCT 2024
How Expensive Is the Perfect Pitch?
Many law firms use unnecessarily high capacity to create pitches that could be used just as effectively with greater efficiency.
Why is that? In many law firms, standards and automation solutions are lacking. Each partner laboriously creates their own pitch following the "everyone for themselves" principle. This way of working not only costs valuable time but also prevents the use of synergies. Yet at what cost? Why do law firms stick to inefficient methods when modern solutions have long been available?
Status quo: Double work, half success
Gina-Maria Tondolo describes the current approach in many law firms as inefficient and frustrating: "Often a partner works in isolation on a pitch by relying on old presentations. He searches through past pitches, copies various pages and slides – some of which are long outdated – and painstakingly assembles a new presentation. The document then goes to the marketing department and comes back after some time with numerous updates. A time-consuming process."
Another problem: These pitches are rarely stored or shared centrally. Colleagues who have similar tasks must go through the same time-consuming process over and over again. This way, valuable synergies and resources are not utilized. Instead of accessing existing knowledge and materials, law firms repeat the same steps – a clear loss of efficiency and productivity.
Who shares, wins
"Often there's a lack of a central pitch platform that serves as a common starting point for all pitches," says Tondolo. "With such a platform, law firms could not only save time but also ensure that the best arguments, success stories, and data are centrally collected and reused in every new pitch."
Why is a central pitch platform so important?
Tondolo explains: "A central pitch platform allows all relevant content to be collected and regularly updated in one place. This way, anyone preparing a pitch has immediate access to the latest and most successful templates. Information created once can be reused again and again and enriched with new data.
Another example illustrates the added value: "Suppose a partner is preparing a pitch for a new client in the automotive industry. He uses data from past pitches, combines it with current market research results, and integrates customized success examples. This pitch document is saved on the central platform and is immediately available for future cases in the same industry. This way, you avoid redundant work and can rely on proven approaches. Synergies are utilized, the pitch process becomes leaner, and every pitch is more efficient without sacrificing quality."
The efficient solution for pitches and submissions: Lawrence
"With Lawrence, law firms can centralize and automate their pitch creation. The main advantage is that information such as references, quotes, rankings, biographies, and practice group descriptions are bundled in one central location. This makes the pitch process not only faster but also more precise, as all important content is immediately available and can be individually customized," says Tondolo.
Everything in one place
With Lawrence, not only is time investment drastically reduced, but law firms can also be confident that every pitch is based on current information and precisely tailored to the needs of the respective client.
Conclusion: Automation for greater success
By combining knowledge capture, automation, and central availability, law firms can not only optimize their internal processes but also make informed, data-driven decisions – and thus be more successful in the long term.
Gina-Maria Tondolo is founder and CEO of Lawrence, the leading provider of marketing and BD software for law firms.