It’s time to transform legal tech product demos.

May 30, 2021

Gartner predicts legal tech spending to rise 200% by 2025.

In the spirit of being curious and continuously sharpening my product knowledge, I have recently sat through many legal tech demos from new and existing players all around the world.

Seeing a diverse bunch of product demos in a condensed period has allowed me to reflect on how important this step of the legal tech selection process actually is. First impressions count, especially in the digital era.

It’s certainly made me have greater empathy for why some General Counsel and legal teams don’t enjoy the vendor selection process as much as they could, or I do. Or indeed choose to delegate it to their procurement and IT teams.

Because there is no one demo standard per category of legal tech, it’s important that a prospective client has a frame of reference and assessment for selecting legal tech vendors.

To that end, I am a fan of this RFP Template produced by Silicon Valley based digital CLM (contract lifecycle management) solution, Ironclad.

It covers the essential criteria and questions to ask of a prospective legal tech vendor: Solution Summary, Design and ease of use, Workflow Capabilities, Third-party paper, Negotiation, Counterparty Experience, Approvals and Notifications, Electronic Signature, Security, New releases, Team and Implementation.

The questions around technology, for example, test whether a vendor’s product includes features that are commonly required by business users, such as integrations and intuitive design.

You can download it for free here, and build upon it to suit both your organisation and team’s needs.

Good vendor selection leads to better adoption, and adoption is one of the critical keys to innovation and transformation.

And adoption is a classic win-win and commonly held interest for both legal tech vendors (more sales = more revenue), and their clients (more efficiency = more business user satisfaction).

Business Executive Steve Cannon, sums it up succinctly – “Customer experience is the new marketing.”

I see a huge opportunity for legal tech product demos to be less about working through a standard PowerPoint presentation and demo, and more focused on curating a customised, personalised, and therefore efficient initial client experience.

As the latest addition to the legal supplier universe, legal tech vendors are well placed to disrupt the current benchmarks of client-centricity in a way that has never been done before. To be acutely client focused across all touch points. To offer an experience that is positively memorable, and more reflective of the personality of the product and its brand. To embrace new marketing.

Until then, I hope you find Ironclad’s template as a useful frame for your next legal tech product demo.

Thanks for reading this post.

Stay future focused.

Anna x

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