November 30, 2023 – Good2bSocial released its 2023 Social Law Firm Index, which examines how Am Law 200 firms adopt and apply digital marketing in terms of brand building, engagement and business development.
The Social Law Firm Index analyzes each firm’s presence on the internet and across social media. It also evaluates their social usage to extend thought leadership and engage with clients and constituents. These factors are reduced to numerical measures, weighted and incorporated into an algorithm to develop each firm’s rank on the Index.
Good2BSocial uses proprietary research to measure reach, engagement and marketing performance on platforms including Twitter, LinkedIn, Facebook, Instagram, YouTube, SEO, thought leadership and podcast production.
“This year, we saw a lot of firms focus more on specific campaigns and also begin to invest in marketing technology,” said Guy Alvarez, Executive VP of Strategy at Good2bSocial. “Firms have also started paying more attention to the analytics to understand what campaigns have been successful and to guide their next actions.”
This year’s key findings include:
We can’t talk about 2023 without talking about AI first and foremost. This dynamic technology made its mark across various industries, and legal marketing is no exception. With markets projecting the global AI market to hit upwards of $400 billion by the close of 2027, it’s clear that generative AI is becoming an indispensable tool for businesses worldwide.
Demise of Twitter/X?
In the year since Elon Musk has taken over X/Twitter, it’s fair to say he’s brought more chaos, and the numbers show that. In November 2022, Twitter had nearly 260 million daily active users, but as of September 2023, that number has dropped by about 15 million. As of September 2022, Twitter held almost 100 percent of the microblogging monthly user-market share but as of September 2023, X’s market share dropped to less than 82 percent.
With the continued rise of TikTok and Instagram Reels, short-form video content dominates social media. Creating short-form video content for your law firm and personal brand is a great way to grow your visibility and generate more engagement. Now, YouTube has an easy-to-adopt feature called YouTube Shorts. With a maximum length of 60 seconds, these videos force you to keep the topic tight and can help you catch the eye of people with short attention spans.
Social listening tells you everything you’ve ever wanted to know about your target audience but were afraid to ask. It monitors your brand’s social media channels for any feedback and DMs of your brand or discussions regarding specific keywords, competitors or industries. The tools allow you to build a solid understanding of exactly what clients and prospective clients think about you by analyzing what they say on social channels.
The 2023 Social Law Firm Index Best Performing Firms:
The Overall Top Five Firms demonstrated the greatest comprehensive adoption, integration and use of digital marketing, social media and thought leadership content to market and grow their practice. The firms topping the list include:
- Latham & Watkins
- Mayer Brown
- Greenberg Traurig
- DLA Piper
- K&L Gates
The 2023 Social Law Firm Index rankings are based on a proprietary methodology developed to assess the effectiveness of each firm’s use of social media and digital marketing. The full report, including overall and individual channel rankings, along with feature stories on the top-ranking firms in each category, is available here for download.
Good2bSocial’s mission is to help lawyers understand and leverage the power of digital marketing, content, and social media, using unmatched experience and the latest technology and techniques to power measurable marketing and business development strategies. Good2bSocial offers a full suite of digital marketing services for law firms and companies in the legal industry, including social media management, high-impact content strategy and production, email marketing, PPC, SEO and marketing automation.
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Name: Victoria Zimmon
Job Title: Public Relations, Content and Social Media Strategist