Redwood Analytics

Everyone at Redwood has been busy these past few weeks with the completion and launch of the LexisNexis Redwood Business Development Application, so you'll have to forgive us for being quiet on the blog.  We have a lot of content coming your way over the next few weeks, but in the meanwhile I thought I'd bring you some coverage of Redwood from around the web.

Norm Mullock, founder of Redwood Analytics, and vice president of product strategy and innovation with LexisNexis Business of Law Software Solutions wrote a great piece on Mastering the Basics of Alternative Fee Arrangements that was picked up by the Los Angeles County Bar Association and published in their May 2010 e-publication.

Kris Satkunas, director of the Redwood Think Tank, recently worked with Susan Shallcross, Marketing Director for Duane Morris LLP, on a client analysis project for her firm.  In the May/June edition of Law Practice Management magazine, Susan writes about this client segmentation and analysis project, and how focusing on the right clients, and directing marketing resources towards the high potential clients, can benefit law firm growth and business development.

Additionally, Kris will be speaking later on today, along with Darryl Cross, at Virtual LegalTech (VirtualLegalTechShow.com) on Identifying, Strengthening and Nurturing your Firm's Best Clients.  This panel discussion will offer critical guidance on how to respond to declining hours from existing clients, estimated by our research to be an average of 15% annually.  Assess which of your clients deserve the greatest attention and determine those who are at-risk.  Develop the skills to strengthen relationships with your most valuable clients.  In today's marketplace, there is no room for error.  The virtual presentation is scheduled for 2 pm ET, so go register now!

Lastly, for our UK readers, I'll direct you to a post by my colleague Brian Taaffe about the upcoming International Redwood User Group to be held in London on June 17.  We look forward to a lively event in London.

Stay tuned to this space next week for more coverage of the recent Redwood Forum event.  We will summarize the research presented by the Redwood Think Tank on Partner Scorecards.