Download While some 84% of law and accountancy firms have a digital

A paradigm shift
The PM Forum carried out its latest Digital Marketing survey in May 2010 with 170
respondees. The most actively used tools and platforms are (in order of usage): e-mail/ezines; web analytics; online PR; LinkedIn; micro sites; and blogs. 48% of respondents define
social media as ‘user-defined content’ and 32% as ‘the next revolution’. These ratios are little
changed from the last PM Forum survey in May 2009.
Some 84% of law and accountancy firms now have a digital marketing strategy. This
represents a paradigm shift from the tactical ‘test it and see approach’ common in the past.
26% of accountancy firms and 11% of law firms report a complete (as opposed to a partial)
strategy. In addition, 96% of those firms with a digital marketing strategy have now integrated
it into their overall marketing plan – some 35% reporting total integration.
62% of firms have increased their digital marketing budgets over the past two years at a time
when only 25% of firms have increased their overall marketing budgets. The share of the
marketing budget allocated to digital marketing ranges from 36% of firms under 5%, 34% from
5% to 10%, and 19% from 10% to 25%.
Hits, visits and page views are used by 64% of firms to track and measure website
performance. Worryingly, over 50% of firms either don’t have a strategy for measuring digital
marketing or recognise the value but are unsure how to measure it. As regards commercial
success, no firms are yet seeing much payback, although some improvement is reported in
the areas of clients and the media since 2009.
The survey covered four areas and three platforms in more depth:
Email
Email campaigns are used by 97% of accountancy firms but only 79% of law firms. The
primary focus of such campaigns is to drive traffic and deliver content. While the most
important marketing goal for both law and accountancy firms is to engage clients, it is far
more important for accountancy firms with 61% of them reporting this goal compared with
only 34% of law firms.
SEM
Less than 50% of firms engage in search engine marketing (SEM) campaigns. 35% of
accountancy firms are fully engaged in SEM compared with only 13% of law firms. The
primary focus is search engine optimisation. The most important marketing goal for
accountancy firms is to build brand awareness while law firms see their main goal as being to
drive traffic and build loyalty.
Blogs
47% of law firms engage in blogging, compared with less than 30% of accountancy firms.
Most just produce a corporate blog. While the most important marketing goal for both law and
accountancy firms is to engage clients, it is far more important for accountancy firms with 60%
of them reporting this goal compared with only 33% of law firms. Unofficial blogs in the name
of the firm are now banned by 30% of firms compared with 16% in 2009.
Social media
The most effective platforms are seen to be Twitter, LinkedIn, Facebook and YouTube, with
Twitter rated highest by law firms and LinkedIn rated highest by accountancy firms. The main
marketing goal is to build brand awareness, followed by engaging clients and generating
leads. 71% of firms now update their company page on LinkedIn compared with 45% in 2009.
83% of firms are now considering an official presence compared with 65% in 2009.
LinkedIn
LinkedIn is seen as beneficial by 68% of firms, up from 64% in 2009, and a problem by only
6% of firms. 54% of firms allow their people free access anytime to LinkedIn, with only 5%
banning its use. Unofficial groups in the name of the firm are now banned by 23% of firms
compared with only 11% in 2009.
Facebook
Nearly 50% of firms see Facebook as being a problem, up from 40% in 2009, with those
seeing it as beneficial reducing from 23% in 2009 to 14% in 2010. Only 23% of firms allow
their people free access anytime with the number of firms banning its use on office computers
increasing from 27% to 30%.82% of firms now have a formal policy re staff using Facebook
compared with 71% in 2009.
Twitter
20% of firms tolerate or encourage Twitter compared with just 10% in 2009. However, 40% of
firms still do not have a formal policy over staff twittering in office hours (45% in 2009).
Summary
Digital marketing used to be all about a website. Now it is about utilising multiple
communication channels to nurture clients, develop new business and manage your online
brand. Marketers see themselves as held back by a lack of understanding of the topic
internally and the absence of a clear strategy. Technical challenges are no longer seen as
critical.