1 / 23

World Practice Roundtable Maggie Watkins Meritas President October 25, 2004

World Practice Roundtable Maggie Watkins Meritas President October 25, 2004. Meritas. Est. 1990; Non profit 170+ firms; 60+ countries Firms ranked in top 20 Purpose: credible, effective client coverage. Our Name: Meritas. Merit: Latin root —“merito’ —‘brought in’ or ‘earned’

ellard
Download Presentation

World Practice Roundtable Maggie Watkins Meritas President October 25, 2004

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. World Practice Roundtable Maggie Watkins Meritas President October 25, 2004

  2. Meritas • Est. 1990; Non profit • 170+ firms; 60+ countries • Firms ranked in top 20 • Purpose: credible, effective client coverage

  3. Our Name: Meritas • Merit: Latin root —“merito’ —‘brought in’ or ‘earned’ • Means “proven ability or accomplishment” • Protected internationally • Firms show Meritas on letterhead, Web site and marketing materials

  4. Typical Meritas Member Firm • One firm per market • HQ in city served • Full service law firms • Non exclusive • No competing formal strategy

  5. Why Meritas is Different # 1: Objective, transparent and rigorous member service monitoring

  6. Quality Control • All referrals tracked as condition of membership • Written evaluations • Established system in place • Client service standards • Periodic member recertification • Involvement in organization • Client service complaints • Practice mix monitoring • Terminate 2% annually

  7. Client Credibility • Clients access evaluation records • Over 3,000 matters evaluated • Database online

  8. Why Meritas is Different #2: Tools to compete with regional, national and global firms

  9. Focus Has Shifted Beyond Referrals • Technology support for client coordination • Local marketing support • Educational & networking meetings • Lawyer qualification database

  10. Extensive Lawyer Qualification Database • Provides the ability to directly reach a lawyer whose capabilities meet legal needs • All member attorneys’ profiles are included in the LQD • Industry expertise • Niche legal specialization • Online access www.meritas.org

  11. Resource Tools Available(for clients and members) • Lawyer Qualification Database - both resource and promotional tool • Repository for marketing best practices • Meritas Web site: www.meritas.org • Member Site

  12. Resource Tools (cont) • Partner sales training • National and international trade show program • Attorney retreat facilitation

  13. Why Meritas is Different # 3: Significant new business for members via direct marketing/sales effort

  14. Strategy • Position Meritas similar to national/international firms • Goal: Substantive, profitable work from Fortune 1000 and increased referrals between members • Process: Use member contacts to leverage collective expertise

  15. Most Important Criteria in Selecting Outside Counsel • Past relationships • Reputation of individual lawyer • Lawyer expertise in a specific area • Firm expertise in a specific area • Reputation of the law firm • ACC/Serengeti survey

  16. Corporate Advisory Board Use corporate counsel perspective to maximize HQ business development efforts • Joe Bauer, Lubrizol • Gary Jacobs, MGM Mirage • Kim Myrdahl, SuperValu • Bruce Whitney, Air Products • Paul Marcela, Dow Corning • Doug Kosloski, Crown Investments

  17. 2004-05 Corporate Sales Plan We will be… • Expanding Sections and Industry groups as a business development resource tool • Adding more tradeshows • Stressing relationship development after initial contact

  18. Why Lubrizol Uses Meritas “The network maintains a high level of quality control among its members. We don’t have to do interviews, and we don’t have to go through a reference process. That’s been done for us by an organization we trust.” Joe Bauer, General Counsel Lubrizol, Inc.

  19. Membership Retention is High • Meritas referrals = top 10 client for active, visible firms in big cities • Significant referral income • Value in outbound referring • HQ: Significant leverage to enforce service standards

  20. Meritas’ Commitment to Diversity • Assisting member firms to recruit, retain and promote attorneys of diverse backgrounds • Educating member firms about the business imperatives of diversity initiatives • Heightening the awareness and sensitivity of its members to create opportunities that enhance diversity

  21. Commitment to Diversity (continued) • Promoting the involvement of attorneys of diverse backgrounds in the leadership and governance of Meritas • Weighing commitment to diversity in firm recruitment and certification

  22. Meritas: A Strong Competitive Advantage • Safe, credible geographic reach • Significant new business • Means to find and demonstrate depth • Reduce operating costs • Associate attraction and retention • Keep local brand relevant

More Related