ikaun Opens 2023 RFP Impact Report for Marketing and Business Development Survey

Global News

27
Sep
2023

Editor

ikaun, the AI-powered, world class experience management platform for law firms and professional services organizations, today announces it has opened an inaugural survey investigating the impact of RFPs on marketing and business development operations in law firms.  The 2023 RFP Impact Report for Marketing and Business Development Survey is open today through October 20th;  only participating firms will receive access to the full results.

To learn more and participate, go here.

While RFP activity slowed during the pandemic, client RFPs are once again on the rise—and extending beyond the usual go-to ‘large firm’ panels; interestingly, small and medium-size firms are now being included as clients expand their understanding of the market, according to BTI Consulting.  Combine this industry uptick with an average RFP completion rate of 20 hours of administrative and non-billable work (according to a LexisNexis Survey), and the burden on marketing and business development operations quickly multiplies.

The 2023 RFP Impact Report by ikaun intends to investigate these numbers and assess how marketing and business development professionals are faring in a heated, competitive market.  As buyers of outside legal counsel become increasingly sophisticated in their abilities to identify expertise at a lower cost, it is incumbent on law firms to provide the best possible answers in the most efficient manner, reducing the strain on operations and increasing the firm’s ability to respond to more work.  

Who should participate in the ikaun survey?

• Chief Marketing Officer (CMO)/Chief Business Development Officer (CMBDO) or Directors of Marketing and Business Development
• Requests for Proposal (RFP) specialist
• Chief Administrative, Operating or Executive Officer (CAO/COO/CEO).

Jason Noble, ikaun’s Chief of Product Strategy, comments: “As clients turn up the frequency of RFPs, it’s more important than ever for marketing and business development professionals to understand where the pain points are in crafting winning responses.  That’s why we are excited to conduct this market research, to help law firms understand the impact client RFPs have on their marketing and business development operations, gain insight into the bottlenecks, and be empowered to make better business decisions.  We are looking forward to extracting these extremely valuable results.”