“It’s not just about the numbers; it’s about what the numbers can tell us about the future.”

“ROI should be a journey, not just a destination.”

“A good story turns numbers into insights.”

• Participants stressed the importance of aligning metrics with what matters most to leadership. The group shared instances where impressive numeric reports failed to engage leadership due to a lack of alignment with their goals and commiserated that lot of time can be spent dedicated to reports that do not get reviewed or resonate. One solution has been to create monthly marketing operations reports so numbers are shared more frequently and efficiently while generating more real-time feedback from leadership.
• Metrics that drive action, such as client-specific contacts rather than general website traffic, is also critical to ensuring that the data presented is both relevant and actionable and can facilitate strategic decision-making.
• Marketing leaders also emphasized the importance of tailoring reports to the specific preferences and needs of individual leaders, enhancing relevance and clarity.
• Participants spoke to the power of storytelling when presenting metrics. Combining quantitative data with a strong qualitative narrative makes presentations more engaging and relatable. This approach helps humanize the data, illustrating its real-world impact and relevance. Storytelling and data comprehension is also enhanced through the use of visual aids and infographics.
• Integrating predictive analytics was also discussed as a means to provide forward-looking insights that can better guide strategic initiatives.
• Participants initiated a lively discussion on ROI expectations, sharing their organization’s ambitious benchmarks.
• The expectation of a 4x return on every marketing dollar in the first year and 8x in the second year sparked a debate on the feasibility of such goals.
• Participants agreed that while ROI is crucial, setting realistic and achievable targets is essential for sustained growth and team motivation.
• Several members shared their experiences and strategies for measuring and reporting ROI, highlighting the diversity of approaches within the industry. Some participants discussed various marketing metrics like reach, engagement frequency, impressions, downloads, NPS, relationship strength, and brand health. While these metrics are valuable for the marketing department, they can be overwhelming to report. As one non-marketer succinctly put it, “It’s two things – sales & revenue, full stop.”
• Aligning ROI metrics with long-term business goals can foster a more sustainable and strategic approach to marketing investments.
• Participants discussed measuring brand using 3rd party assessments, brand health score (awareness, engagement, conversion), branded search volume, AI for larger brands, and surveys/conversation analysis with clients and prospects.

• The group discussed the budgeting process, questioning whether different business areas have their own budgets or if they operate within a master budget. One participant confirmed that each area has a specific budgetary allocation, and they can decide how to use it.
• Another participant shared a new approach they are taking this year, where each practice group was provided with a target number based on their previous year’s spend, adjusted for inflation. He also introduced a new categorization system for budget items: must have, need to have, and like to have.

“So, we have a lot of automated workflows that monitor activity on the record. If we see that we’ve handed off a lead and there’s no activity recorded after a certain time, we send an automated email reminder. Multiple times if necessary. And if there’s activity but no deal opportunity, we address that separately.”

One of the common challenges that the participants faced was how to measure and incentivize team performance before revenue generation, especially for activities such as lead generation, content creation, and thought leadership. These activities are often seen as intangible and difficult to quantify, yet they are essential for building brand awareness, reputation, and trust with potential and existing clients. The participants shared their methods, challenges, and best practices, highlighting the following:

• Setting clear and realistic goals and expectations for each activity, aligned with the overall business strategy and vision.
• Using a mix of qualitative and quantitative metrics to track and evaluate the outcomes and impacts of each activity, such as web traffic, social media engagement, client feedback, leads generated, conversions, etc.
• Creating a culture of accountability and recognition within the team, where each member is responsible for delivering high-quality work and reporting on their progress and results, and where achievements and contributions are acknowledged and rewarded.
• Providing regular and constructive feedback and coaching to the team to identify areas of improvement, celebrate successes, and address challenges.

“AI is not going to take your job, but a person, who knows how to use AI really well, will.”

The group discussed adopting and implementing AI tools for various purposes, such as content creation, RFP responses, data analysis, and market research. AI tools can offer many benefits, such as increasing efficiency, accuracy, and scalability, as well as enhancing creativity and innovation. However, AI tools also pose some challenges and risks, such as ethical, legal, and quality implications, as well as the need for human oversight and intervention. Some participants have developed their own in-house AI tools, while others have used off-the-shelf solutions like Jasper or Writer. They compared the advantages and disadvantages of both approaches, such as the level of control, customization, integration, and investment required. They also mentioned the challenges of finding and retaining talent with AI skills and experience and the need to continuously train and feed data to their AI tools to produce accurate and helpful outputs that reflect brand voice.

Key strategies for leveraging AI effectively include:

• Conducting thorough research and due diligence before selecting and using any AI tool, to ensure that it meets the standards and requirements of the firm and the clients, and that it complies with the relevant regulations and policies.
• Implementing clear and consistent guidelines and processes for using and monitoring AI tools, to ensure that they are used appropriately and effectively, and that any issues or errors are detected and resolved promptly.
• Training and educating the team and the clients on the benefits and limitations of AI tools, and how to use them in conjunction with human judgment and expertise, to ensure that the output is accurate, relevant, and valuable.
• Seeking and incorporating feedback and suggestions from the team and the clients on the performance and satisfaction of AI tools, and how to improve them.

The group discussed the need for establishing and maintaining client service standards within their firms, especially as they grow and diversify their offerings and markets. Client service standards are the expectations and promises that the firm makes to its clients, regarding the quality, timeliness, and professionalism of its services. Client service standards are crucial for building and sustaining long-term relationships with clients, as well as for differentiating the firm from its competitors. The participants shared how they are using various methods and tools to assess and improve their client service standards.

Methods include:

• Conducting client listening sessions, surveys, feedback, and follow-up actions, to understand the needs, preferences, and satisfaction of the clients, and to identify areas of improvement and opportunities for growth.
• Developing and communicating clear and consistent service level agreements (SLAs) and key performance indicators (KPIs) with the clients, to ensure that both parties are on the same page and that the expectations are met or exceeded.
• Empowering and equipping the team with the skills, resources, and authority to deliver excellent service to the clients, and to resolve any issues or complaints in a timely and effective manner.
• Creating a culture of service excellence and client-centricity within the firm, where the team is motivated and rewarded for exceeding client expectations and delivering value-added solutions.

The final theme that the participants touched on was the importance of ongoing training and development programs for their teams and themselves, to keep up with the changing market demands and technological innovations. The professional services industry is constantly evolving and becoming more competitive, and the clients are expecting more from their service providers. Therefore, the participants recognized the need to continuously update and enhance their knowledge, skills, and capabilities, as well as to foster a culture of learning and innovation within their firms.

The participants shared how they are leveraging the existing and emerging technologies and platforms to facilitate and enhance the learning experience and outcomes through the following strategies:

• Using online courses, webinars, podcasts, blogs, and other resources, to access and learn from the latest trends, insights, and best practices in the industry and beyond.
• Using AI tools, such as chatbots, virtual assistants, and adaptive learning systems, to personalize and optimize the learning process and content, and to provide feedback and support.
• Using social media, online communities, and platforms, such as PIE, to connect and collaborate with peers, experts, and mentors, and to exchange ideas, experiences, and feedback.
• Using gamification, simulations, and scenarios, to make the learning more engaging, interactive, and relevant, and to test and apply the learning in real-world situations.

“You have to keep in mind that the different tools that you use to get client feedback solve for different things. Electronic surveys can help solve firm-wide client experience challenges whereas relationship reviews can obviously help create better relationships.”

• Participants discussed various methods for collecting client feedback, including in- person interviews, electronic surveys, and third-party services. Two key components of an effective client feedback program include careful selection of appropriate clients for feedback and a robust follow-up program to ensure feedback turns into actionable outcomes.
• In-person interviews are regarded as the most effective method for obtaining detailed relationship insights from top-tier clients, as they allow for personal interaction, rapport building, and prompt action. However, they are also time-consuming, costly, and may require partners to overcome their discomfort with delivering or receiving negative feedback.
• Electronic surveys are regarded as a useful method for capturing broader trends in client satisfaction and identifying service improvement opportunities. They can also generate client testimonials for marketing use and measure the Net Promoter Score (NPS) to assess client loyalty and referral potential. However, they may lack the personal touch and investment that comes from internal team involvement and may require incentives or reminders to increase response rates.
• Third-party services are regarded as an option for firms that want to offer clients the freedom to be more candid and avoid potential conflicts of interest. They can also provide credibility and expertise in conducting client feedback programs. However, they may not be aligned with the business objectives of the firm, and may not have the same level of access and trust as internal teams.
• Several firms use a hybrid approach, combining in-person interviews for top-tier clients and electronic surveys to reach a broader client base. This allows them to capture both detailed relationship insights and broader trends in client satisfaction.

“We developed a retention score model based on six different data points to assess a client’s standing, which informs us on whether a client is in good health, requires attention, or is at risk, guiding our decisions on client expansion and service improvement.”

• The group discussed methods for aligning client feedback with financial data such as client realization rates to make informed decisions about client retention and identifying growth opportunities among different tiers of clients.
• A retention score model was mentioned, which combines various data points to assess client relationships and informs decisions on whether to retain, grow, or offboard clients. The model helps in prioritizing efforts based on the potential for expansion and the current state of client satisfaction.
• Participants shared that while top-tier clients often receive the most attention, there is significant value in nurturing mid-tier clients, as they represent a substantial portion of business and growth potential.

“The key is to create a very robust follow-up program. We share the survey results with client relationship lawyers and provide them with guidance on how to respond to different types of feedback. We also conduct an internal webinar to train them on this and have our business development team follow up if there is negative feedback in a key area.”

• The conversation delved into how firms ensure that client feedback leads to meaningful change. One approach is to involve firm leadership in monitoring action items, establishing accountability for partners to act on feedback received.
• Challenges such as partners’ discomfort with delivering or receiving negative feedback were discussed, along with strategies to overcome them, such as delegating conflict resolution to more neutral parties within the firm.
• The importance of immediate action in response to constructive feedback was underscored, highlighting the need for a culture that values and acts upon client insights to strengthen relationships and service delivery.

“The whole list of action items, no matter who is responsible, goes to the CEO every quarter, and he wants to know if the partners, the marketing team, or department chairs are following up, because not acting on client feedback can be very detrimental.”

• The culture of an organization was noted as being a considerable determining factor for the readiness of a firm to engage in client feedback programs and their success. Establishing credibility and buy-in for such programs can be a gradual process, requiring early wins and supportive narratives from early adopters to gain momentum.
• The discussion acknowledged that while third-party conducted interviews can offer clients the freedom to be more candid, they may lack the personal touch and investment that comes from internal team involvement.
• Using client feedback to celebrate staff achievements and contributions was highlighted as a positive side effect, fostering a sense of appreciation and motivation among team members.

• The utilization of electronic survey platforms such as ClearlyRated was discussed, with benefits including the ability to generate client testimonials for marketing use and to identify service improvement opportunities.
• There was interest in the potential of analyzing client data to discern key factors that impact client retention and the success of certain tactics in improving client relationships, as evidenced by a case study involving DLA Piper and Axiom.
• The conversation recognized the importance of integrating various data points to form a comprehensive view of client experience, with an emphasis on not neglecting the wealth of information and opportunities present in data from mid-tier clients.

“Hybrid events have opened up a new realm of possibilities, blending the best of digital reach with the personal touch of in-person interactions.”

Participants underscored the importance of maintaining a balance between in-person events and digital platforms. This approach signifies a broader industry trend towards creating more integrated, omnichannel engagement strategies that leverage the advantages of both digital and traditional marketing methods. This hybrid model was highlighted as a forward-thinking approach to maximizing engagement opportunities and understanding the need for flexibility and adaptability in today’s dynamic market environment. An executive discussed the desire to combine the scalability of digital strategies with the authenticity of traditional interactions, indicating a nuanced approach to engaging audiences in 2024.

“Our firm’s investment in Challenger training and a dedicated storyteller for our proposals is more than a tactic; it’s a transformation in how we approach business development. By focusing on the client’s unknown pain points and articulating our value proposition through compelling narratives, we’re changing the game.”

Discussions underscored the transformative impact of structured training programs tailored to build trust among team members while significantly enhancing their ability to engage with clients and cross-sell services effectively. One executive shared insight into the success of their focused training regimen, creating a vibrant, collaborative atmosphere that encourages deep professional bonds and a shared commitment to excellence. Simultaneously, another executive talked about the exploration into Challenger training and the art of storytelling revealing a strategic intent to redefine how services are communicated, focusing on addressing latent client needs and articulating value propositions with compelling clarity.