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Before jumping into the podcast foray, law firm leaders must think strategically about podcasting as a tool for marketing and business development. Resources, bandwidth and buy-in are needed to produce a successful podcast — along with patience as podcasting success is determined by long-term results.
For buy-in, let's start with some statistics. Podcasts are more popular than blogging, videos, and television. The average podcast consumer listens to seven podcast episodes per week, and 93% of podcast fans listen to most of an episode. Sixty-one percent of podcast consumers listen to podcasts more than watching TV. As of 2019, 51% of the U.S. population has listened to a podcast. It is expected that by 2022, 132 million people in the United States will listen to podcasts. According to Podcast Insights:
Before your law firm leaps into podcasting, answer these questions:
Podcasts deepen client relationships and trust, which lead to more work and referrals.
John Corcoran, co-founder of Rise25, LLC, and host of the "Smart Business Revolution" says: "When used as a strategic business development tool, a podcast can have a significant ROI." Corcoran started a podcast in 2011 when he was a practicing lawyer. His first recording was of a client for whom Corcoran had handled a small contract matter. He researched and found that the client was a successful serial entrepreneur. As a result of the relationship that was reinforced by the podcast, the account grew substantially. Fast forward to 2019. Corcoran has produced more than 500 podcasts and moved into the industry full-time. "The most important thing lawyers must do to benefit from podcasting is figure out how to make money from it," he says. This means "interviewing, showcasing, highlighting, profiling and putting on a pedestal, your clients and referral partners, which will lead to more clients and referral partners. It's as simple as that."
"There is intense competition for attention in the marketplace," says Nancy Myrland, the founder of Myrland Marketing and Social Media. "Law firms must stand out. Podcasting for lawyers and law firms accelerates the 'know, like and trust' factors clients need when choosing their lawyer. Being able to hear another person's voice is the middle step in the relationship continuum." An early adopter of digital technologies, Myrland is the first legal marketing professional in the world to launch and host an Amazon Alexa Flash Briefing, which also is the "Legal Marketing Minutes" podcast.
Podcasts build brand awareness and recognition, reaching the listening audience.
Kristin Dohan, the marketing manager for Klasko Immigration Law Partners, explains that podcasts help to promote their attorneys' thought leadership and the firm's strategic messaging while complementing much of their other content marketing. She says: "We often cover the same topic in a blog, article, infographic and presentations. People prefer to consume information in different ways. By adding a podcast, we have expanded our reach and brand awareness to those who otherwise might not read our thought leadership materials." Dohan helped launch and has produced all episodes of the firm's podcast "Statutes of Liberty: An Immigration Podcast."
Podcasts are low-cost, high-value and agile business development tools.
"Podcasting is that perfect middle ground, from a cost, speed and content position, between electronic alerts and videos," says Rich Bracken, the director of business development of Fredrikson & Byron. "Attorneys can convey their knowledge while showcasing their personality and legal prowess at a fraction of the cost of producing videos and with a much longer shelf life than e-alerts." Bracken has worked on nearly two dozen podcasts, supported the launch and production of six legal podcasts, and is the host and producer of "Enrich Your Soul." He says: "Mid-market firms also have a unique opportunity to showcase their subject matter experts with thoughtful content in podcasts. Rather than trying to be first to market with the electronic update like BigLaw, an insightful podcast on the breaking news that one can listen to anytime and anywhere, allows mid-market firms to provide the utmost value."
Podcasts establish credibility quickly and easily.
"In an age (of information) where the client decides how, when and what they need to understand complex legal issues, podcasting is a great way to reach target audiences," says Adrian Lurssen, the vice president and co-founder of JD Supra, an online platform that distributes law firm content (text, video, audio) to target readers and subscribers. He explains that podcasting is "more versatile than textual content and much less expensive or resource-intensive as video (another good genre, albeit a more complicated one)." He says: "A mid-market firm law partner in the Bay Area invites CEOs of prospective client companies onto his 'radio show' to discuss clean tech. Their insights were invaluable and some guests became clients."
|According to the legal industry podcasters I spoke with:
If you're thinking about launching a podcast, read Heather McMichael's tips for pioneering a podcast. She is the media relations manager for Shook, Hardy & Bacon and received an LMA award for a weekly podcast program she created while at her former Am Law 100 firm where she led PR initiatives for a decade.
If you've launched a podcast and your firm is struggling with its success, check out Erik Ericson's article for The Resurgent, "Your Podcast Still Sucks. You Can Still Make It Better."
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Gina Rubel is the author of "Everyday Public Relations for Lawyers." An attorney and publicist, she leads Furia Rubel Communications, an agency supporting law firm growth and reputation management through integrated legal marketing, public relations, strategic planning and crisis communications. Contact her at [email protected] or @GinaRubel. This article also appeared in ALM's Mid-Market Report.
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