The legal industry has its unique requirements in terms of marketing and branding initiatives, and the plans that yield brilliant results for a tech company, or an FMCG corporation, let’s say, might prove to be disastrous for a law firm. As strategic marketing and branding initiatives become commonplace in the legal sector, keeping regular tabs on your marketing strategy is more important than ever to ensure you are on track.
This is where a mid-year marketing review comes into picture. It helps you assess the efficacy of your current marketing and branding strategy; looks at the results so far; assesses the parameters designed as per your industry and professional goals; and informs changes to be implemented. This piece will take a detailed look into the process of conducting a mid-year marketing review and determining if your marketing strategy needs to be revisited, so that you can grow your law firm in the right direction.
MID-YEAR MARKETING REVIEW – HOW TO GO ABOUT IT?
A thorough mid-year marketing review should necessarily take a detailed look at the following for an accurate outcome:
Social media growth and engagement
Social media platforms form a key aspect of any law firm’s marketing and branding strategy; and for a good reason – its organic, has an unmatched reach, and facilitates direct interaction with the audience. If your law firm, too, has been posting on social media for a few months, this would be the right time to look at the growth of your social media handles and the engagement derived from it. While doing so, do not get caught up in the numbers itself, but also look at the qualitative markers. In simpler terms, do not get fooled by the number of followers you have or how many likes and comments you have received. Numbers are important, but the people who constitute those numbers matter more. See if you have been reaching the right strata of audience; are you networking better; is your social media reach translating into your professional growth?
Efficacy of the content
Posting content is not enough – your content must be effective, engaging, and strategic. The same kind of content does not appeal to every kind of audience. For instance, if the main aim of your marketing strategy is to reach out to start-up founders, the content you post must be of interest to them. What interests the CXOs of a growing start-up might not interest a foreign law firm partner. If you wish to position your firm as an IP boutique, the kind of content you post needs to differ from a firm seeking to establish itself as a litigation practice. Clarity of purpose and goal will help you determine the kind of content to post and devise a strategy that caters to your law firm. While conducting your mid-year review, take a hard look at the kind of content you are putting up and see if it is effective to meet your vision.
New marketing and social media trends
Social media is a great tool for marketing and branding, but let’s be honest, social media trends are pretty erratic. It’s a lot to keep tabs on what’s trending on a day-to-day basis. However, you need to be mindful of the periodic surges. For instance, long-form video content worked great until reels and shorts took over our lives. Recently, law firms have started to produce podcasts – something which was a rarity till last year. We are seeing partners and senior associates embrace their human, humorous side on their social media profiles, connecting with young lawyers and law students like never before. These changes suggest a constant evolution, and your marketing strategy must evolve simultaneously.
Compatibility of the current strategy with your goals
A good marketing and branding strategy should align with your practice’s short-term and long-term goals. Based on the foregoing parameters, analyse if your current strategy is serving you well, or is a change due. If your short-term goal is to focus on onboarding more clientele with IP prosecution mandates, your marketing strategy should be tailored accordingly. An efficient and result-oriented strategy aims to balance your firm’s short-term and long-term goals.
CHANGING LANES – IS YOUR CURRENT STRATEGY WORKING?
The results of your mid-year marketing review can either suggest that your marketing strategy still fits your firm perfectly, or it might indicate need for change. If it’s the latter, determine the specific areas or initiatives that need to be switched up. Sometimes, a minor adjustment may do wonders, but there might also be the need for a new holistic strategy. It is crucial to ascertain the specific pain points and come up with targeted solutions to avoid a waste of time and resources. Along with a new plan, you must also come up with a strategy to transition from your old ways. A major change brought abruptly might disorient the target audience and may be construed as mixed messaging.
How do you review your current marketing strategy and come up with a new one that fits the needs of your firm? Get in touch with us for a detailed audit of your marketing, social media and content strategies, and devising a plan that brings you closer to your goals!
