Social Media Paying Off For 25% Law Firms – Says Report

02/29/12

So, are you still confined to court corridors?

The report, christened “Fans, Followers and Connections: Social Media ROI for Law Firms” has been created by surveying about 180 law firm partners, marketing professionals and administrators through December 2011 and January 2012.

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Kevin Iredell, vice president of research and continuing education at ALM said, “After a slow start to gin acceptance in the legal services industry, US law firms are rapidly gaining confidence in the use of social media as a serious business development strategy.”

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Kevin further stated, “The skepticism of a decade ago has given way to a growing appreciation for the ways that blogs and various other social media and networking tools can be deployed to help build the reputation of individual lawyers and practice groups, as well as enhance law firms' overall marketing efforts.”

Among other research findings, the survey includes the following which are quite relevant:

• Close to 85 percent of law firms are making use of social media and networking tools such as Facebook, Twitter and LinkedIn.
• More than 60 percent law firms admitted to maintaining one or more blogs.
• Almost 90 percent law firm partners and marketers are convinced that social media integration is necessary for their firms' marketing, business development and recruiting
• 40 percent of law firms studied reported social media was of high importance for online brand establishment and marketing efforts of law firms
• More than 50% of the studied firms reported increased budget for social media initiatives in 2012
• More than 20% of law firms surveyed informed that they already have a full-time social media specialist
• More than 40 percent of law firms participating in the survey reported that social media involvement have increased the number of calls from traditional media and the number of invitations to speak on legal topics
  

Considering the continuous growth of competition and with repeated affirmations from the industry that social media involvement is necessary for brand image and business development, social media is too important a tool to neglect. While many small and big law firms do have sufficient work on their hands to keep them engaged full time now, those who fail to admit and accept social media today, might find competition leaving them behind tomorrow, forging ahead through social media.