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Leveraging Social & Digital Media for Business Development

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Leveraging Social & Digital Media for Business Development

  1. 1. Leveraging Social & Digital Media for Business Development Peter Shankman – HARO - @petershankman Adam Stock – Allen & Matkins - @adamlstock Jasmine Trillos-Decarie – Foley Hoag LLP - @jasminedecarie April 28, 2011
  2. 2. Agenda • Audience poll - Silvia • What social media is and what it is not - Jasmine • Social media may be cool but it must bring in business – Peter • How law firms can leverage social media for business development – Adam & Jasmine • Overarching digital media strategy and why it is important – Adam & Jasmine • Q&A
  3. 3. Audience Poll • How many of your firms are currently utilizing social media? • If your firm is, what are you using? – Twitter – LinkedIn – FaceBook – Video – Other • What is the one thing you would like to learn today?
  4. 4. What social media is & what it is not
  5. 5. What Social Media is • Long-term strategic communication & business development tool • Tool that allows you to disseminate your message to the broadest possible audience • Tool that allows consumers to acquire information in the manner that they choose
  6. 6. What Social Media is not • A shiny new tech tool that you give to the most junior member of your team to run with because” “they are just out of college so must know all about this stuff” • Something you embark on without a strategy • Something you release to all your attorneys regardless of personality and communication skills • A tool that will bring in a hundreds of thousands of dollars in business over night When you find that tool, please call us!
  7. 7. “These truths we hold to be self-evident” • Marketers who embrace social media will out-distance the competition, build community following and boost loyalty • People buy from people who they have relationships with and social media fosters relationships • Most lawyers are introverts by nature and social media can be the holy grail of business development tools for the truly introverted
  8. 8. Why you must approach social media with business development in mind Peter Shankman – Founder of HARO, first profitable company based on social media platform. Entrepreneur, Skydiver and IronMan. Why? Because the idea was there, the plane was there and the challenge was there.
  9. 9. The new world of developing business & communicating Jasmine Trillos-Decarie - Director of Marketing & Business Development at Foley Hoag LLP. Mom to son, Ian, and two cats, Kona & Pinot. I swim-ride-run so I can enjoy fine food, wine and coffee.
  10. 10. Source: Fred Cavazza.net The Buying Cycle Awareness Interest Desire Hire MARKETING COMMUNICATIONS SOCIAL MEDIA BUSINESS DEVELOPMENT SOCIAL MEDIA
  11. 11. Read a printed newsletter Call a colleague Go to a seminar Look in Martindale Laywers R Us Old Paradigm
  12. 12. Follow an online banner ad Web site Print Communications (brochures, stationery, invitations, holiday cards) Lawyers R Us Call a colleague Do a Google search Attend a Webinar, speech, tradeshow Read about the firm on Connect, Legal OnRamp, LinkedIn Get 16 e-alerts on the topic Read a blog See a Twitter post Listen to a YouTube video New Paradigm
  13. 13. Statistics from 2010 American Lawyer Survey • 96 of AmLaw 100 blogging – 297 blogs total with 245 firm branded • All AmLaw 100 = LinkedIn pages – 1.5 million lawyers on LinkedIn • 31 of AmLaw 100 on FaceBook • 76 AmLaw 100 on Twitter but less than half have ever tweeted • If you analyze the AmLaw 200, almost guarantee that these numbers increase in all categories
  14. 14. Law firm’s approach to social media stages • Most law firms are either ignoring social media or using it solely to tell stories • Firms tend to talk “at” instead of engaging • Firms generally do not ask our clients where they go for their information or how they like to receive it • Firms talk about using social media the same way they talk about conducting client interviews – Lot’s of talk but little action
  15. 15. Five stages of social media • Ignoring – Head in sand…it’s not going away, I promise • Listening – “Let’s collect data” “what are our peers doing?” • Responding – Can we say, “Nixon Peabody” If done with no strategy? • Participating – Now we are starting to communicate • Storytelling – Ideally this means telling our story in a manner our audience wants to hear and on the topics that they are interested in. Now we get it!
  16. 16. Substance Trumps Cool • In-house counsel is looking for substance • Social media, is our new delivery mechanism but we must deliver both quality and regular quantity – 51% of in-house counsel surveyed by The American Lawyer indicate that they would engage Twitter, FaceBook and LinkedIn to receive RELEVANT information from their firms • Relevant = Timely • Substance trumps cool but we must leverage “cool” to communicate the substance or no one will hear
  17. 17. Social Media Tools – Video The least known but most powerful legal social media tool Adam L. Stock - Director of Marketing & Business Development at Allen Matkins. Techie turned law firm marketer. I’m not only a law firm marketer, I’m also a customer. Really!
  18. 18. Why video can be an effective medium for law firms Highlights the lawyer Clients ultimately hire the lawyer not the firm Complex information can be explained simply We can communicate our expertise simply Distribution is free Because it is in demand, and it’s social
  19. 19. Internet video is the fastest growing part of the web 36% 2010 57%2014
  20. 20. Thought Leadership Client Success Recruiting Community Involvement
  21. 21. Online video shares many attributes with blogs • Social media – Easily shared and forwarded (buzz) • It has a long shelf life • It is more easily found than other media • The press will follow it • Others will redistribute it if it good
  22. 22. Video will be distributed to social media sites
  23. 23. And on sites focused on the law
  24. 24. Social Media Tools – LinkedIn, FaceBook & Twitter
  25. 25. • Strategy – Engage clients, prospects and referral sources – Share content and expertise (link JD Supra and others) • Challenges – Creating information that is of interest to your Fans? – Walking the fine “specialist” line – Learning how to communicate within this medium • Tactics – Define and manage the voice – Monitor for comments and respond – Repurpose content
  26. 26. • Strategy – Engage clients, prospects and referral sources – Engage Alumni and potential recruits • Challenges – Balancing information that is of interest to clients with information of interest to alumni and potential recruits – Broadcasting your brand message while also participating in discussions consistently • Tactics – Define the voice – Monitor for comments and respond – Strategy and content development – Reputation management
  27. 27. • Strategy – Create recurring opportunities to engage stakeholders & recruit new followers – Using Twitter account to push out content via links – Creating a firm brand while supporting attorney brands • Challenges – Keep Twitter feed current with links to fresh content – Maintain balance between broadcasting brand messaging and interacting within the community • Tactics – Defining the voice of the company – Monitoring for negative comments, trends, insights – Strategy, content development and 3rd party application integration – Reputation management – Time!
  28. 28. • Strategy – Create fresh content that engages readers • Challenges – Creating content of interest without crossing the line – mediating interaction • Tactics Define the voice of the company – Monitor comments, trends, insights – Strategy and editorial schedule – Analytics – Reputation management Blogs
  29. 29. Keith Bishop Blog Blogs get higher search rankings so they can be found faster
  30. 30. Keith Bishop Blog Interesting content is easily shared with others
  31. 31. Keith Bishop Blog Distribution channels that need content will send distribute/ traffic to our site vs. paying for distribution
  32. 32. Keith Bishop Blog • TRAFFIC: 15% of traffic to firm website • PR: Over a dozen interviews with journalists • BUSINESS: Unsolicited contacts by new clients • DISTRUBUTION: Others will redistribute
  33. 33. Digital Media Strategy A firm’s web site is critical source for the selection of outside counsel People by from people – What do your firm’s bios look like?
  34. 34. 300,000,000 web sites 200,000,000,000 searches/year How can a web site stand out?
  35. 35. Integration is Essential • Would you ever have completely different branded ads talking about your IP practice? • Without integration your message will lack consistency & followers will not overlap cross-platform • Virtually no law firms integrate social media platforms with web • No law firms currently tailor user experience the way corporate sites can and do
  36. 36. Measuring Online Visibility
  37. 37. Content = Traffic & Media Coverage “Every company needs to be a media company” 590 2010.
  38. 38. Social Media Drives Traffic

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