On Thursday, April 20, 2017, the LMA Northeast Region Chapter hosted a lunch and learn program attended by dozens of Philadelphia and regional legal marketing professionals. Led by Kevin Iredell (Director of Research & Market Intelligence, Greentarget Global), the program showcased an array of insights and trends related to how corporate general counsel are engaging in social media and law firm-generated content. Additionally, the program highlighted how legal marketing professionals are creating and pushing out thought leadership and related digital strategies in an effort to build relationships and further firm business development initiatives. All data showcased and discussed at the program was a result of a digital and content marketing survey conducted by Greentarget Global which was formally released this month (May 2017). The survey was the sixth release by Greentarget Global and received feedback from 114 in-house counsel respondents and legal marketing professionals from 53 law firms nationwide.
Key program takeaways include:
- Information Overload. In-house counsel are drowning in information. 96% of general counsel report that information overload is, in fact, a real problem. Per the survey, legal marketing professionals agree --- however, a majority of legal marketing survey respondents report that content generation from their law firms/attorneys will grow in the coming year. As of result of information overload, in-house counsel are advising legal marketers to focus on value and quality of content over quantity.
- Traditional Media Still Reigns. The rise in social media has certainly affected how in-house counsel receive industry news and press releases; however, in-house respondents have confirmed that, in terms of credibility of legal, business and industry news, traditional media (The Wall Street Journal; The Economist) remains on top. LinkedIn trails in very closely behind traditional media, implying that social media may very soon surpass traditional media as the top source of credible news.
- Attorney Rankings do Matter (at least for some). In-house respondents report that when researching outside counsel (prior to hiring), recommendations on counsel from their contacts and friends are most important to them. Additionally, in-house counsel find value in reading outside counsel candidates’ bios and LinkedIn profiles (which often include a list of recent speaking engagements; articles; blog entries). Surprisingly, 67% of in-house counsel find that if an outside counsel candidate is ranked in a peer-driven survey (Best Lawyers, Super Lawyers), they take notice.
- Law Firm Content is Read. A lot. While in-house counsel are often overwhelmed by the amount of thought leadership available to them on a consistence basis, it is still valued. In fact, this year 52% of in-house counsel reported that law firm generated thought leadership is of “very good/excellent” quality. Moreover, in-house counsel find the most valuable law firm thought leadership to be in the form of client alerts and practice group newsletters. Legal blog entries follow below, but are suspected to rise in the following years.
The LMA Northeast Regional Chapter thanks our program speaker Kevin Iredell on an informative and eye-opening program. Additionally, thank you to our program sponsors Gittings Photography and Legal Internet Solutions, Inc. (LISI).