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LexisNexis Market Intelligence First Comprehensive Product For Law Firm Business Development, Marketing Professionals
Combination of LexisNexis® CourtLink®, Martindale Hubbell®, Company Dossier Puts strategic information all in one place
DAYTON, OH, January 31, 2005 - LexisNexis U.S., a leader in legal, news and business information services, today unveiled LexisNexis® Market Intelligence, the first all-in-one product that allows law firm marketers and business development professionals to track litigation trends and evaluate growth or decline in their client and prospect markets.
LexisNexis Market Intelligence, on display at Legal Tech New York exhibition in the Hilton New York, is the first product on the market specifically designed for law firm marketing analysis. It combines the power of a suite of exclusive information from LexisNexis, including LexisNexis® CourtLink® federal and state court information and alert service, LexisNexis® Martindale-Hubbell® published lists of U.S. and international law firms and attorneys. In addition, financial and company news from LexisNexis® Company Dossier and industry-related information LexisNexis Industry Dossier provide further news and information about law firms’ clients and prospect.
Fulbright & Jaworski L.L.P., a full-service international law firm headquartered in Houston, Texas, is one of the first LexisNexis customers to agree to try out the product.
"Just as we have seen in other professional services over the last decade, there is a market share battle emerging in the legal industry. LexisNexis Market Intelligence gives firms a way to benchmark market share and then track it over time to avoid being on the losing end of this trend," said Michele Vivona, chief operating officer of the unit managing CourtLink products. "With this type of tracking, attorneys can grow revenue and share with existing clients. It also can help law firm marketers and attorneys identify and prioritize prospects by understanding their litigation history and staying up-to-date on client and prospect activity."
Using the built-in Learning Center, users can view best practices and tips on how law firms across the country are using the LexisNexis Market Intelligence suite of products to perform these activities:
- Identify cross-selling opportunities and grow share with existing client. Powered by CourtLink, LexisNexis Market Intelligence, taps into the most comprehensive court record database available and provides detailed information on the litigation activity of a firm’s clients. This information allows the law firm to determine its current share of client’s legal work, as well as pinpoint who has the remaining share of that client’s litigation business.
- Identify and prioritize prospects by understanding litigation history. Likewise, law firms can prioritize prospecting targets by gaining insight into companies’ historical and current federal and state litigation activity, law firm representation and trends by practice area. In-depth news and business intelligence and financial information on more than 20 million global, public and private businesses is packaged together in a comprehensive report using LexisNexis Company Dossier.
- Stay up-to-date on industry trends and client and prospect activity. Analyze long-term litigation trends and run industry reports including news and analysis on over 1,000 different industries. This data can support development of new practice groups or help direct the efforts and resources of existing practice groups. Receive automatic email notifications. Attorneys can be the first to know when clients or prospects are sued or are featured in the news allowing them to stay up-to-date on a client’s and prospect’s needs in order to win new business.
- Monitor success. Benchmark and monitor client share and case volume trends for the law firm and competing firms to help assess the ROI of client development efforts.
Client development products from LexisNexis include a wide range of information sources, including law firm listings, publications and business development conferences from Martindale Hubbell and LexisNexis InterAction client relationship management software. News and business information on lexis.com® is the broadest selection available to law firms and growing.
About LexisNexis
LexisNexis® (www.lexisnexis.com) is a leader in comprehensive and authoritative legal, news and business information and tailored applications. A member of Reed Elsevier Group plc [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), the company does business in 100 countries with 13,000 employees worldwide. In addition to its flagship Web-based Lexis® and Nexis® research services, the company includes some of the world’s most respected legal publishers such as Martindale-Hubbell, Matthew Bender, Butterworths, JurisClasseur, Abeledo-Perrot and Orac.
In the United States, LexisNexis® Total Research System (www.lexisnexis.com) offers an extensive range of online and print legal and regulatory information products, tools, customized Web applications and critical filing services that help legal professionals reach confident decisions and comply with the law.
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