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L E A D E R NETWORKS
How will Social Networking Help Lawyers Generate and Retain Business?
LMA Boston EventDecember, 2008
Vanessa DiMauroCEO, Leader Networks
www.Leadernetworks.com
L E A D E R NETWORKS
It’s all about connecting.
• what networks do you want to participate in?
• who do you want to connect with,• and how do you want to network online?
L E A D E R NETWORKS
Networking Is Critical To The Legal IndustryAccording to the Networks for Counsel (2008) study by Leader
Networks…
– Networking is the most effective means to get business but, in-person networking is getting more difficult to sustain (cost and time issues)• 60% of Corporate Counsel and Private Practice attorneys report
difficulty connecting with colleagues onsite at conferences
– (As of last April) approximately 50% of counsel belong to a social network such as Linkedin or myspace.• Corporate Counsel are over 3x more likely to use their network for
professional reasons• Counsel prefer a private online network for just attorneys.
– Corporate Counsel value online professional networks because…– Access to information I cant get anyplace else -- 46%– Easier exchange of information – 45% – More quickly find and evaluate the right legal partners 29%
L E A D E R NETWORKS
TIMING IS EVERYTHING
Opportunity for legal marketing•Need is clear
•Skills are inherent•Legacy of in-person success
L E A D E R NETWORKS
WIFM (what’s in it for me/my firm)?
#1 OPPORTUNITY Still (much) room for market domination in Legal.
Barrier to entry is low.
#2 VELOCITYGreater reach, greater efficiency, low cost.
Attract and retain new business.Can target regional, national & specialty
at the same time.
#3 BEST PRACTICEOther industries and people have succeeded.
Market, measure and grow online.
L E A D E R NETWORKS
What you need to succeed• Purpose
– Know what you want to get out of online professional networking– Define the social media program goals and plans (increase awareness
of partners capabilities, share thought leadership)
• Point of View– Use the virtual podium wisely – photo, info & ideas and update– Power to showcase knowledge
• let your attorneys show what they know • Transparency is key• If they would be allowed to attend an event without regulation, let them
online without controls
• Patience– Returns come over time - expect results after 3-6 months.– In person rules of engagement = online rules of engagement