Business Development Maturity Assessment
Define it then align it: Get a roadmap of
where your firm is headed
Are you on the right path? Let’s make sure.
After working with 75% of the Am Law 100 firms and 74% of the Global 100 firms for over 20 years, we found that firms often try to make too big of a leap, too quickly.
How you operate and grow your firm’s business is up to you. But your path to success still requires analysis, correction, adjustment, and assessment. To build a path to greater maturity to help you reach your business goals, you first need to measure and understand where your firm stands now.
The LexisNexis® InterAction® Business Development (BD) Maturity Assessment can help you improve your business development outcomes. After participating in the assessment, you’ll have a roadmap that guides you through making necessary changes, defining processes, and aligning strategies to transform your business.
Find out your firm’s BD maturity level.
The LexisNexis® Business Development (BD) Maturity Model is a business development model that allows your organization to have its methods and processes evaluated according to defined best practices against a clear set of external benchmarks.
The Maturity Model benchmarks are categorized into:
Leadership, staff, culture
Methodology, policies, documentation
Targeting, qualifying, strategy
Oversight & Accountability
Goals, KPIs, tracking
Relationship & Client Experience
Process, outcomes, client satisfaction
Analytics & Intelligence
Benchmarking, effectiveness, insights
Designed to help assess where you are and to help you create a roadmap to build a plan for how you improve and move the firm forward, the proprietary Maturity Model of LexisNexis provides valuable guidance on how to use tools, technology, and create processes proven to work.
What the data tells us: BD Maturity Assessment results to February 2021
47% of the people who responded occupy senior level roles
Firms’ Maturity Level
The Business Development Assessment highlighted opportunities for improvement in 100% of responses.
Firms were able to identify the areas in which they needed to improve and establish what changes were required to improve the way they operate and grow the business.
Prior to taking the assessment, 58% of firms believed that their firm’s BD process would be ‘optimized’.
100% of firms can see the opportunity for improvement in their business development activities to build a path to greater maturity and grow the business. We found that …
… 90% of firms would be able to increase business growth by adopting more formal sales/BD methodologies.
… to inform BD planning and goal setting, 80% of firms can utilize more data that already resides within the firm.
… making changes to certain internal processes would greatly help firms qualify and prioritize leads and opportunities.
… half of firms would be able to significantly improve BD activities by tracking relationships across the firm.
Would you like to improve your firm’s Business Development Strategy?
A complimentary custom BD Maturity Report is available for your firm now.
Explore these benefits of taking the assessment now:
- Maturity Level – You’ll receive an accurately measured maturity level, complete with recommendations for improvement.
- Benchmarking – With independent benchmarks, your organization can compare its maturity level with other organizations or parts of your own organization.
- Consistency – The questions and scoring matrix are developed by trusted advisors with years of sector experience.