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It pays to be social in 2020, writes Anthony Hersch.
It’s undisputed that the COVID-19 pandemic has universally escalated a profound and sustained reliance on technology. The changes in technical infrastructure, communications and operations that were initially mandated by necessity have morphed into the new paradigm.
To date, operations and infrastructure have been in the spotlight to facilitate business continuity, though perhaps less tangible but equally as critical, is the rapidly emerging role that technology imposes on client communication and engagement. As such, the increased reliance on, and sophistication of, digital channels mandate a seismic shift in the way firms align with client sentiments, expectations and engagement.
At the forefront of the discussion is social media which, for many firms, has traditionally not necessarily been an active focus. The need to have a social media presence is now undisputedly in the spotlight due to its extensive reach and as a way to connect with both existing and emerging client bases.
There is a lot of noise about how firms can use social media (and equally a lot of clutter in the market as many firms “spitfire” tactics to see “what sticks”). Importantly, there are two core areas that should be assessed when considering social media. Firstly, which platform(s) will reach the highest volume of qualified clients, and secondly, which platform(s) provide the best forum to appropriately communicate the firm’s message.
To help with this journey, please find a summary of the main social media channels below:
Context
It’s important to understand the “why” before jumping into the “how”. Determine the goal and objective of using social media, including identifying the intended audience, and where they are most likely to be found. It’s wise to take the time to understand the demographics and psychographics/behaviours of your clients prior to selecting a channel. And before committing to a platform, be aware that social media channels with the largest reach may not be the most qualified (i.e. “fish where the fish are biting’).
Content
It’s crucial to ensure that the channels selected are “tonally appropriate”, meaning that they align with the firm’s integrity and is suitable environmentally (i.e. sympathetic to the impact of the pandemic, clients’ challenges, firm specialisation, etc). Keep in mind that while “Content is King”, the relevance of the message is critical. Rather than generate a “laundry list” of services, provide solutions. Identify what challenge or opportunity your firm enables, then consider the way that this is communicated. This may be delivered through short text posts, blogs (including case studies), or videos, which are increasingly well received. The channel selected should correlate with the style of content (i.e. Instagram is not suited to detailed opinion pieces).
Commitment
Social media can be considered a “hungry beast” when it comes to content generation. It’s strongly suggested that if you don’t have the appetite, skill set or interest, this function be outsourced. There’s a plethora of freelancers and agencies, on and offshore, that can generate and distribute content on behalf of a firm.
While communicating through social media requires a significant investment of time and effort, its upside is clear – the opportunity to become a thought leader with an engaged community of clients and prospects that rely on regular and relevant messages from a trusted partner. This cost-effective alternative enables firms to remain front of mind through being in tune with both clients and the market, which naturally supports lead generation and ultimately sales.
Anthony Hersch is the COO of LawFinance (formerly JustKapital).
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Anthony Hersch
