Business Development Intelligence – What is it and why do law firms need it now?
Business Development (BD) Intelligence is knowledge about business opportunities, prospective clients’ legal needs, and the business environment that helps law firms win new business and expand existing client relationships. Leading law firms have come to realize the strategic importance of BD intelligence in today’s competitive market for legal services. Producing BD intelligence efficiently is challenging because it involves coordinating numerous complex capabilities.
Benefits of a BD Intelligence Capability Assessment
Mind-Alliance partners with law firms to help rapidly assess current BD intelligence management capabilities. Working with Mind-Alliance, BD Directors and their colleagues can develop a BD Intelligence Strategy for the firm and guide practice areas and industry groups on how to detect BD opportunities earlier, produce more useful intelligence efficiently and close more deals.
Assessing Law Firm BD Intelligence Capabilities
Mind-Alliance has developed an analytical framework for helping BD Directors and their colleagues (e.g., Client Management Partners, Marketing, Research and Library Departments) improve the effectiveness and efficiency of their BD Intelligence capabilities.
Mind-Alliance helps law firms rapidly assess current BD intelligence and strategic intelligence management capabilities (people, processes, technology, data) needed at each phase of the intelligence cycle. We then develop a BD Intelligence Strategy for improving the ability to detect more BD opportunities, produce intelligence more efficiently, and increase revenues.
Marketing Intelligence Monitoring Whitepaper for Law Firms
Download our whitepaper to learn how cutting-edge technology can help your firm spot new business opportunities and inform attorneys about important developments in their clients’ business environments.