Social Media: It’s debatable.
The debate over whether or not law firms and lawyers should use social media is over—thank you very much. In fact, gains in adoption of the medium are making social business an imperative for everyone from Main Street to Madison Avenue. However, we’re not at the pinnacle yet: There still remains a struggle for and debate over issues—enough to fill a newsstand—such as scaling, resources, data, ownership, leadership, risks, rewards, and on and on. How do law firms stack up in some of these debates? Let’s take a look.
Finding Return on Investment
The debate
Social media can be approached scientifically to capture ROI, which is measured by traffic, links, leads, and client conversion rates.
vs.
There is not now, nor will there ever be a direct return on investment any more than one can point to the monetary return of a display ad, brochure, or press release.
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Originally published by Bloomberg Finance L.P. in 2013. Reprinted with permission.
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