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Editor’s Note: Jared Coseglia is one of the most talented business leaders and communicators in the eDiscovery ecosystem. In the following extract from a recent article of his (Top 10 Predictions for the E-Discovery and Cybersecurity Job Market in 2018) he concisely articulates an example of the growing gulf between the haves and have-nots in the eDiscovery provider world.
Extract from article by Jared Coseglia from Legaltech News
As the ESI service provider world continues to polarize between large organizations and companies under 35MM$/year, so too does the profile of business development professionals in the market. Larger providers are generally going to seek heavy-hitters with previous success selling 5-10MM$/year in business with a healthy split between ESI and document review. Few up-and-comers will be given a chance or trained by a large provider without this kind of track record. Conversely, smaller discovery shops will typically only pay a fraction of what large providers will in base pay, but may offer much higher variable percentages that equalize total compensation.
The bigger challenge for any ESI vendor looking to hire sales staff is differentiation. In a commoditized market, the truly proven legal technology sales pros are looking for companies with something new and forward-thinking to offer their clients. Doing more of the same under a new logo is no longer motivating a job change for the exceptional or even the average e-discovery business development representative. The exodus of ESI sales reps from the space will continue in 2018, making it harder for companies to acquire plug-and-play talent.
Additional Reading:
- Positioning Points: Considering Legaltech® New York 2018
- An Abridged Look at the Business of eDiscovery: Mergers, Acquisitions, and Investments