October 21, 2011
How Law Firms Can Benefit From Social Media

Nearly two-thirds of all U.S. Internet users regularly use a social network.1 Law firms must take advantage of this infinitely large conglomeration of potential customers, as this is an opportunity for them to cultivate a controlled, positive brand image in front of these potential customers, at a low cost. The average cost per lead in social media is 62% less than in traditional marketing.2

All of the AmLaw 100 firms have Twitter accounts.3 If your law firm is not engaging in social media, you risk sending the message that your firm lacks innovation and a willingness to engage consumers. By not engaging in social media, your firm will also miss out on the opportunity to strengthen existing relationships and create new relationships.

A single Facebook Fan or Twitter Follower can be worth thousands of dollars to your law firm. Many Fans and Followers of company accounts have hundreds or even thousands of their own social media connections, who are also potential customers of the company, and the same is true for your law firm. Friends, Fans and Followers of your firm’s connections are notified when your firm’s connections engage with your Facebook or Twitter accounts. These connections of your firm’s connections are more likely than the average user to Like or Follow your firm’s accounts, after seeing a friend’s endorsement of your accounts.

There is much more to social media than simply launching a Facebook and Twitter page. Law firms should have clear objectives, strategies, guidelines and tracking capabilities for their social media efforts – and most importantly, they should be proactively managing their social media accounts; not creating an account and letting it sit like so many law firms are doing.

Law firms can leverage social media to:

Generate leads and grow their business

• Strategically locate and connect with their target audience – individuals that are in need of legal advice in their firm’s area of expertise

Position their firm as an industry thought leader, establish expertise and trust, and stay relevant by posting relevant industry-level information and blog articles

Strengthen relationships with existing clients and prospects by sharing information and engaging in dialogue

Evaluate their competitors to determine what their firm is doing right and wrong

Promote their firm’s news, achievements, events, webinars and so on



Approaches firms are taking with Social Media:

There are a number of approaches that law firms are taking in their use of Facebook and Twitter. Some very large or global firms are creating a single company-wide Facebook and Twitter account, from which they are posting company content, from all firm locations. The problem with this approach is that certain posts are only relevant to a single firm location. However, for smaller firms, this approach is more manageable, and ideal.

Other firms are creating separate social media accounts for each industry or area in which they practice. However, this approach takes more time and resources to muster up a substantial amount of content to post.

Individual attorneys at law firms are also creating their own accounts that are geared towards their area of practice, and are spending a given amount of time each week updating their account. These accounts can be branded with the firm’s logo, or include the firm’s name in the bio section, linking the account to the firm. This approach to using social media is a way to showcase some of the talented and experienced attorneys at a firm, but requires firms to train attorneys on how to use social media and educate them on all of the legal and ethical issues that come along with its use.

There is no one right or wrong approach to using Facebook and Twitter, but firms should determine which approach they believe will work best, according to the size and structure of the firm, as well as their social media objectives.

Blogs are another social media tool that law firms are taking advantage of. They are a way for firms to position themselves as an industry thought leader, establish expertise and stay relevant. Sharing a blog article written by your firms is also a way to connect with clients and prospects, strengthen your relationships with them and remind them of your firm’s offerings and expertise. Blogs can sometimes lead to speaking or guest writing opportunities. Tailor blog posts to your target audience and use Twitter, Facebook, LinkedIn and your firm’s website to promote your blog – good content will be passed along!

Law firm’s are also establishing a presence on LinkedIn mainly to gain exposure for their firm and its services, and to build relationships with business contacts and potential customers through participating in LinkedIn groups that are relevant to their areas of expertise.

Whatever approach to social media that your firm chooses to take, it is best practice to create a social media plan, instate a social media usage policy and give employees who engage in social media some guidance on how to use it. Your firm should have clear objectives, strategies and tracking capabilities for social media, and should be proactively managing your accounts to take advantage of all the benefits social media can offer your firm.



Sources:

  1. eMarketer 2011
  2. Hubspot 2011
  3. http://adriandayton.com/2011/07/twitter-usage-by-amlaw-100-firms/