The legal industry has always been conservative when it comes to spending on digital marketing, but that’s changing. In a recent survey of law firms, only 52 percent said they were making any investments in digital marketing at all. That number is higher than it used to be — just 25 percent of firms said they were investing in digital marketing back in 2014 — but it’s still far less than other industries are spending. But despite not being well-versed in the latest advertising trends like other industries are, lawyers have found ways to get creative with their budgets by thinking outside the box and focusing on what matters most: their clients’ needs and interests.
The legal industry is unique in that it has constantly been slow to adopt new technologies.
But before you despair, there is hope. Lawyers are a unique bunch—they’re risk-averse and they don’t want to spend money on something that might not work, which is why many have struggled with changing their practices. But, if one thing can be said about lawyers it’s that they aren’t afraid of hard work. If there was an easy way out of this situation, most would take it in an instant.
Unfortunately for them (and you), there isn’t a simple solution for making your practice more modern and efficient without some serious effort from your end too.
After the recession, the industry saw a lot of regulation changes and a lot of clients coming to law firms wanting more transparency in their billing and in their services.
In the years following the recession, clients were looking to law firms for more transparency in their billing and services. After all, there were a number of lawyers out there who would be happy to take on your case—but only if you could spare them a hefty retainer check. Clients wanted lawyers who could provide value beyond just legal advice.
In this sense, digital marketing is one of many tools meant to deliver on that promise of value. It gives law firms an opportunity to prove themselves as innovators who can get things done efficiently while also keeping costs down (and therefore passing those savings on).
How much do lawyers spend on digital marketing?
This has led to more efficiencies being developed, which have given lawyers time back to invest in marketing. Lawyers are able to delegate tasks, automate certain processes and spend more time on strategy and analysis than they ever could before.
Another factor that’s led to the increase in marketing spend is that legal work has become much more complex over the years.
As the amount of legal work has increased, it’s become harder for one law firm to get all of it. Law firms now have to compete with each other for clients, which means that they need to differentiate themselves from other lawyers in their field—and one way to do this is by creating a brand and reputation for themselves.
Rather than handling just one case at a time, lawyers are now specializing and having extremely detailed knowledge of an area of expertise, so they’re not only helping their clients navigate the legal landscape but also providing them with deep insight into how other businesses approach things.
In the past, lawyers were more generalists. They handled one case at a time and didn’t have the time or resources to specialize in an area of expertise. Now, however, lawyers are becoming specialists who know how to navigate their clients through the legal landscape as well as providing them with deep insight into how other businesses approach things.
In this new world order, clients don’t want just a lawyer they can hire when they need one; they want an expert on their side who will help guide them through complex issues and represent them using the latest technology and research tools available today.”
Lawyers also have a greater need for branding now because there’s so much legal work out there — it’s hard for any single firm to get all of it.
One reason lawyers need to stand out from the crowd is that they often have expertise in a particular area. A lawyer who specializes in real estate law, for example, will have a deep knowledge of contracts and property ownership as well as all of the legal issues surrounding these areas. This means he or she can help clients navigate what may be a confusing process.
How much do lawyers spend on digital marketing?
When it comes to digital marketing, lawyers are spending more on marketing than ever before because the industry is changing rapidly. A recent study found that in 2018 lawyers are spending twice as much on social media compared to 2017. These findings imply that law firms are finally taking steps towards becoming more competitive in their respective markets and developing a strong online presence.
The reason for this shift is simple: digital marketing has become so critical for success in today’s world that it can no longer be ignored by businesses looking to survive the challenges of tomorrow.
The legal industry is changing quickly, and lawyers are doing what they can to keep up with the times. Whether it’s through marketing efforts or technology investments, lawyers are looking for ways to stay competitive while providing their clients the best service possible.