This article provides 40 different suggestions for the legal industry to deal with a post-pandemic world, or putting it another way. 40 ways to relook at this new world of online, virtual, social, digital, however you describe it.
To quote this article
"Digital transformation was a C-Suite priority before the pandemic; Covid-19 has accelerated its pace and heightened it existential imperative. The stakes for failing to embark on the digital journey are enormous; digitally mature companies are significantly outperforming laggard peers."
Talking to a Partner of a law firm last week, (worth noting they have just been made partner), that three things are paramount to doing business today. They said "It's obvious that [virtual selling] is what needs to be part of a lawyers skills mix", why?
1. To expand the firm's reach to get new clients
2. To deepen relationships with existing clients, and
3. To build a personal brand online.
What Does This all mean?
Shifting Buyer Preferences
Worldwide social media users: 4.14 billion - 53% of the world's population use social media in other words, more people use social media than don't use it.
Simon says that "two thirds of the working population in the world is now active on social media." Your customers, whoever they are ..... are online. Even more so in this post-pandemic world.
Research From All These Companies Back This up
I get that many of your relationships will be at C-Level and you can "just pick up the phone", but what about the "younger people" advising them? What about your new partners that are trying to build a practice during this pandemic? What about about new business your practice is seeking to gain?
A CEO of a Lawyers Just Said to Me
"there is a race on. First we need to shock people into understanding that the world has changed. Second, we need to give them the skills to work in the changing world."
He went onto say "By giving my team(s) “new world” skills will gives us a competitive advantage."
Interesting that he finished by saying
"The thing is there is a “burning bridge” and we need to make sure we are over that bridge."
Who's doing this?
Case Study 1.
This is Eric, he's one of the team at DLA Ignite here is a post that he put up, it only took him 10 minutes to create. We have all seen posts like this, we see them everyday, but people treat social tactically. You post, because you think you have to or somebody tells you you should and walk away. Let's talk about this post.
Eric's post of his 16 year old son, Austin, on his Birthday got 18,000 views and 165 likes?
But better still, he got 6 - C-Level meetings from this post? How?
Let's stop and think about this for a second. This post took 10 minutes to create and it got 6 C-Level meetings, how come?
Because, all of Eric's post are strategic. He knows exactly why he is posting it and knows how to monetise it.
He doesn't always post "humanised" content, I'm using this as an example. But an example of why you need to get your employees and sales team on social, just think of the $ impact to your business. Especially if you scaled this across your business.
How does Eric do this? He builds relationships with prospects and customers and because they have a relationship with a human, not a brand, people are happy to engage. Eric is also able to cut through the myrmid of noise that brands keep putting out. If you are a buyer, where will you spend your time? Reading an advert that says "buy my product because it's great" or look for the insight and educational content that people like Eric is putting out?
Case Study 2
In this case study, Danielle Guzman, talks about how Mercer, empower their employees to talk on social. The ROI (return on investment)? Danielle explains how Mercer as a brand will develop the business a certain amount of business, because they are well known in certain markets. She also confirms in this video how empowering people on social and giving them personal brands gives Mercer 4 times more revenue than the brand.
Don’t Let Fears or Misconceptions About Digitizing Hold Your Back
A recent article about digital transformation in the insurance industry was quoted as saying.
"McKinsey research shows that investing in .... digitizing processes can result in savings of up to 80 percent. This comes on top of the improved customer experience, faster time to settlement, and more policies signed. .... Insurers can allay their fears about investing in new technology by making compliance a priority, getting all stakeholders aligned around digital transformation, ensuring the technology scales, and working around the constraints of legacy back-end systems."
Sounds like plan?
Where Do We Go From Here?
Just give me, or one of the DLA Ignite team and hour of your time and we can walk you through what we are doing for other companies in professional services, especially in the law sector. No hard sell, just take you through what other companies are doing to transform.
This cultural reboot is no small, easy, or quick task. It is a journey that involves in-depth review of structures, models, processes, talent management, technology, metrics, data, strategic partnerships, supply chains, and other existing business elements. Change management, upskilling, a long-term perspective mixed with the agility to course-correct quickly, and the elevation of big ideas over what has worked in the past are all elements of the digital journey. This requires an enterprise-wide mindset focused on customers and constant improvement. It also demands an agile workforce committed to reappraisal and change that benefits customers and improves their experience.