Speakers:Ellen Taverner, CMO Marketing StrategiesKeith D. McLemore, Cooley Godward Kronish LLP

Competitive Intelligence: Practical Applications and Real-World Tactics

Everyone is Looking For Competitive Differentiators

• What makes your firm different than others?– Focus on specific industry? Region?– Notable client list?– Deep bench of unique experience?– Unique relationships?

• Answer(s) to these and similar questions drive factors on helping first identify competitive differentiators

• Why does this matter?– Answers the question on who are your key clients , prospects and

pools of talent

Wait…There is More

• This effort merely answers…who you are

• With all due respect to Microsoft, the bigger question is “where to you want to go?”

• Answer(s) to this question – the other piece of the puzzle

Now You Have the Full Picture

Current Differentiators

Future Differentiators

Who or What You Are Now

Where You Want To Go

Why Does This Matter?

• Provides the basic roadmap of:– Metrics you want/need to track– Your needs or requirements when

it comes to looking at internal/external systems

– Addresses strategic or tactical focus of firm

– How to tie back to your firm’s perceived strengths or brand identity

Current Differentiators

Future Differentiators

What is Next?

• Case Study One: Continue to Focus on Current Differentiator(s)– Firm has the perception of being a strong, high-tech firm with an

emphasis on emerging companies– Footprint mostly on the West Coast, but some recent expansion into

areas known for entrepreneurial growth, specifically in high-tech– Client list reinforces the perception– Talent in the way of existing attorneys and recent laterals also

reinforces the perception

What Metrics or Information Should You Track?

Case Study One

• Clients that are important to your firm’s perception – must keep an eye on them

• Prospects that further your firm’s perception – must try to bring them into the fold

• Notable laterals, affiliations or alliances to help further the perception – add to the existing resources

Where is this Information?

Finance Marketing

HR

Information You Need

1. Who Needs This?2. How Do They Receive The Data?3. External Information Available to Augment

Existing, Internal Data?

REPORT----------------------------------------------------------------------------------------------------

What About Focusing On “New” Markets?

• Case Study Two: Where are your clients focused?– VCs were entering the “Clean Tech” Market in 2005– Growth strategy #1 – Trends in a new market

• Identify expertise in the new area• Quickly develop content that backs up your expertise• Determine if your lawyers are up to speed on legal topics in the new area

What Metrics or Information Should You Track?

Case Study Two

• Experience in industry vertical– Matter history and depth– Attorney experience (within Firm and elsewhere)

• Specific, strong relationships– Who is doing the ‘deep dive?’ (e.g. angel investors)– X-Reference with external databases– Pick up the phone …

Where is this Information?

• Experience - same overall model covered from the first case study

• Relationships – the classic model still applies, but often this information is not in a centralized system– Brainstorming with the lawyers to build a cohesive picture– Roll-up your sleeves and try to put the pieces together

Processes to Consider

• Think Windmills! – Not talking about Don Quixote– Maximize results by tying into

existing processes– Look for existing processes or

work flows that exist independently from Marketing agenda

– First need to know what you are looking for = metrics or goal(s)

Experience Database

Break Out Group Exercise

Ground Rules• Talk about one of the three items:

1. Example of something your firm has done similar (e.g., expansion into new market or vertical, increased ‘footprint’ in existing area) to either of Case Studies

2. Example of some technology, either internally developed or developed by 3rd party, that has helped with your Competitive Intelligence efforts

3. Example of how you may have successfully worked together with other Administrative Departments (e.g., HR, Accounting) to achieve a Competitive Intelligence-based project

• Report to the room. Be sure to highlight:• What worked / did not work?• How did your firm measure success?

Questions?

Contact InformationEllen TavernerExecutive Consultant & PrincipalCMO Marketing Strategies

: etaverner@yahoo.com

Keith D. McLemoreDirector, Legal Information ServicesCooley Godward Kronish LLP

: kmclemore@cooley.com