Six Tech Trends to Know Heading Into the New Year

As we look back at 2016 and gear up for a new year, it’s smart to brush up on new trends in the legal industry. By new trends, I mean new technology, because the terms have become almost synonymous.

Technology has impacted our profession dramatically in recent years, and it continues to do so at an accelerating pace. If you’re not on the technology bandwagon, you and your firm will have a hard time staying afloat.

This fact isn’t a revelation. We’ve known for decades that success in most industries comes down to adopting new technology. But doing so in the legal profession comes with its set of challenges.

First, regulations make change difficult. Second, sometimes it’s hard to know which new products and approaches in the legal industry have value, and which are just hype.

Those challenges aside, firms that don’t embrace technology will have trouble attracting the best new legal talent. The revenue at law firms clinging to old school ways will drop off as a new generation of clients takes their business to new-school, tech-savvy companies.

What does it take to join the ranks of the new-school? There are six major trends to be aware of going into 2017.

Social networks

Social networking is the cornerstone of legal industry marketing. This fact shouldn’t be a surprise. Rainmaking has always been about networking, relationship building and word of mouth. It still is; these techniques in their offline form still build practices. But if you’re not working the online component, too, you’re at a catastrophic disadvantage. Social media has become a factor in how clients choose attorneys, according to a survey taken this year by FindLaw. In 2017, take steps to ramp up your social presence on your website and blog, on LinkedIn, Facebook and Twitter. Doing so will maximize your online presence and help you grow relationships over time.

Your clients, prospects, and leads are online and checking social media regularly. Being part of the social media landscape isn’t hard, but there are right and wrong ways to go about it. Invest in expert help this year. Set a goal to get your social marketing plan up and running in 2017.

Virtual Law Firms

These are firms that can operate anywhere: A lawyer’s home, a satellite office, even from inside a Starbucks. Many lawyers have closed their downtown offices and work remotely. Technology lets them do this without hurting service or quality. Remote work can reduce overhead and travel time while increasing flexibility and improving work/life balance. Plus, you have the option to rent offices or meeting rooms as needed.

The leap to virtual doesn’t have to happen overnight. Experiment by working remotely one day a week and see how it impacts your productivity and revenue. It may very well provide the edge your firm needs to succeed in 2017.

E-discovery

Electronically stored information (ESI) is now considered discoverable in court. ESI includes e-mails, texts, instant messages, voicemails and other electronically stored information. What you need to know: This technological reality has changed the face of litigation. Lawyers can (and should) use digital services to access all types of records. And we need to remind our clients that their deleted texts and e-mails are retrievable.

Legal process outsourcing

Outsourcing legal work to a vendor, law firm or overseas resource has become an increasingly favorable trend for law firms. Streamlined by new technology, LPO continues to cut expenses and reduce workload overflow. It can be a huge factor in scaling your business and managing workflow. LPO technology firms that market to the legal industry are on the rise. They’ll be coming after you in 2017 to present their case. When they do, listen.

Reviews and testimonials

Adding positive reviews to Google+, Yelp and Avvo is critical to growing your business and managing your reputation. 72 percent of consumers said they trusted companies more when they have positive customer reviews, according to a BrightLocal survey in 2014. The number of people reading online reviews is increasing, so take steps to post reviews in 2017. If you can’t get customers to go on record, that’s OK. According to the data, consumer trust increases even when the reviews are anonymous.

Cloud-based online document repositories provide secure, on-demand access to records for you, your clients, and your team members. You can store, organize, view, and change files.

More customers want instant gratification and access to their documents and records. It’s relatively easy to set up, makes for a better consumer experience, and can save you time from fielding emails and sending attachments. Make sure your clients have this access in 2017!

So there you have it. Six new trends that aren’t entirely new, per se, but are increasingly important as our industry ventures forth into the brave new world of 2017.

Lawyers like to err on the side of caution. Many of us are slow to embrace new technology or rock the boat. Historically, we get hung up asking ourselves whether we can afford to take such risks.

But what we need to be asking is: Can we afford not to?

At the end of 2016, the answer is a resounding no.

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Social Media Marketing Strategies To Improve Your Efforts

We all know about Social Media that either makes you a hero or a devil of someone’s life in just a few seconds. It is not only used for the personal communication but also has countless benefits to offer for the growth of your business. Their platforms like Facebook, Twitter, YouTube, LinkedIn, Instagram, Pinterest, Tumblr and many more are popular for their own reasons, therefore you have to be very attentive while working on them. For this, you just need full proof Social Media Marketing Strategies that accelerate your efforts and give refreshing results. So, take a look at some strategies you can try to improve your efforts in the upcoming year 2017. Create A Plan And Stick To It: If you want to get results from your strategies so the first and foremost thing you need to do is create a plan and stick to it. This is because a plan is a must to execute otherwise things get unorganized and you will never get the results what you actually look for. For this, you don’t need to climb the mountain, just think what your customers want, explore the new opportunities and plan accordingly.

Don’t Get Confused Between It’s Different Channels: Another important thing you need to do is to treat every social media channel as a separate entity and don’t mix match them with each other. This is because every channel has its own features and way of working. Likewise, Facebook is for people you used to know, LinkedIn is for you already know, Twitter is for you want to know and many more to define. The list of its different platform and their hidden objective is limitless and can help you to achieve new heights in your business.

Stay Active: The key to your success depends upon your engagement with your customers. It lets you connect with your target audience and give you the outcomes only if you stay active and update them timely. Your regular post gives your visitors a reason to follow you and stay tuned for you. Always keep in mind creating an account and leave it for months and then suddenly come and post will never give you the results, it only works if you constantly update it. Track And Talk: Last but not the least way to improve your Social Media Marketing Strategies in 2017 is by tracking the record of your customer, their taste, and preference and their feedback. You can even talk with them about all such topics, this may help you to improve yourself and make your customer feel that they actually value for your business.

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Mobile Content Market Trends and Opportunities

The mobile content market covers many forms of media such as music, text, pictures, videos, etc. These media forms can be accessed using a mobile device which can be a smartphone or tablet handheld device. Devices such as iPhone, iPad, and Android devices have transformed the way consumer access content.

Mobile Content Market Drivers and Opportunities

The demand for mobile content is growing rapidly. Various factors attribute to the growth of this market.

Market Drivers

Rapidly increasing disposable incomes, innovative products and technologies, and mobile devices with advanced features tend to boost the growth of this market. Decreasing prices with the competitor’s product with increasing mobile bandwidth and speed has also supported the growth of the mobile phone content industry.

A market intelligence firm has stated that the global and the U.S. mobile phone content market was worth $6.5 billion in 2011. It is anticipated to reach a total value of $18.6 billion in 2017, with a CAGR of 19% during the forecast period of 2011 to 2017. On the other hand, factors such as decreasing market share of U.S. sales of ringtones along with distribution and marketing challenges hamper the growth of this market. However, the industry has many opportunities which will increase the revenue shares of the market.

Joint ventures between publishers and marketers and the role of devices and network in the mobile content industry will provide further opportunities for key players in this market. In addition, trends such as growth of social networking and availability of multiple options for substitute products in mobile content industry will support the growth of the market. Key players also have untapped opportunities in the sector of free and fee-based mobile phone content services.

Segmentation of the Mobile Content Industry

The global market for this report is segmented in two major parts which are the revenue-generated and user-type. These two segments are further divided into mobile games, mobile music, and mobile video.

Dominant Mobile Games Sector

The same market intelligence company has stated that the mobile games sector is expected to be the largest segment in the industry and reach a value of $11.4 billion by the end of 2017. Mobile games sector was the largest market sector in 2011 with a revenue share of 53.3%. It is predicted that this segment will further solidify its position in the overall market with a 61.7% market share by the end of 2017. The mobile games market worldwide was worth $3.5 billion in 2011 and will amount to $11.4 billion in 2017 with a 21.9% CAGR during the forecast period.

U.S., the Dominant Regional Sector

According to geography, the global mobile device market is segmented into U.S., Europe, Asia-Pacific, and Rest of the World. The U.S. market for mobile content stood out as the largest regional market with an impressive revenue share of 30.3% in 2011. Faster adoption of mobile content in U.S. will considerably increase the market share to 41% by the end of 2017.

Mobile Content Marketing Trends

It is predicted by market analysts, that in the coming few years the mobile market’s revenue will double than the current figures within a year.

Consumer TrendsConsumers while buying mobile device content tend to compare content features, smart devices, and innovative technologies in the market. This factor tends to impact the mobile content industry greatly. The demand for mobile content will continue to grow in future as more mobile devices arrive every month on the market.

Mobile Optimized Sites Vs. Apps

In addition, the competition is growing between mobile optimized sites versus mobile-native content. This trend is one of the biggest struggles for mobile content provides whether to invest in mobile optimized sites or to invest in mobile-native content like apps.

According to Forbes, one of the key components to monetizing the mobile content is by selling apps. However, selling apps for two dollars a piece is not the only way to make apps profitable. Selling ads is one of the way companies can make profit.

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4 Steps to Choosing the Best Promotional Products for Your Business

When investing your marketing dollars in custom branded promotional products, you want to ensure that you are getting your best return on investment. You want to look for products that serve more than one purpose and provide continued brand exposure.

1. Choose products that provide your company with good visibility.

The more your products are seen, the more promotional benefit your company receives. The best promotional products are prominently placed on everyday items, such as screen cleaners attached to mobile devices.

2. Give away products that will be used every day.

How many times have you received a piece of schwag that you threw in a drawer or even the trash? For your promotional products to be effective, you need to choose items that people will use over and over again. Products that are used often and in public places will gain your brand the most exposure for your investment. A great example would be screen cleaner stickers for phones and tablets, that are custom branded with your logo but people can use to clean their electronic devices. Another example are portable USB chargers, that have your logo on them but people can use in an emergency to charge their devices. These are useful products that people will carry with them, hence, increasing the amount of times your logo gets flashed around.

3. Reflect your business’s reputation with high quality products.

We’ve all received a branded pen or notepad that fell apart in our bag before we even left the exhibit hall. Handing out cheap promotional products gives the impression that your company is just as cheap. Make sure that the freebies you give away are representative of the high quality of the products and services you provide in your business.

The best way to test a product before you decide to pull the trigger and make an order for your event would be to get samples. Reputable promo product companies will provide free samples and stand behind their production. It should be crystal clear once you compare samples whether the promo product will be a hit or a miss.

4. Think versatility.

Choose promotional products that are versatile enough to fit every occasion you need. Whether you need giveaways for a trade show, gifts for your employees, or tokens of appreciation for customers who visit your office, having an appropriate product available for all occasions is key to getting the best results for your marketing dollars.

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The Eurozone Train Wreck Continues Into 2017

The European Union seems to be trying to hold itself together, but it is indeed wobbling itself apart like an aircraft engine with an unbalanced propeller and the vibrations are getting worse reverberating from one side of the continent to the other, where no nation is spared from the challenges which await – so what can we expect in 2017 you ask?

Well, “Brexit” has already had some effect on Germany and other nations are considering similar exits from the EU, which could quicken its demise. The recent Italian vote was problematic as is the condition of the Italian banks. Remember when Greece got caught short? Do you remember in 2014 what was going on in the EU? Let me remind you quickly:

MSNBC Money “China, France drag on global manufacturing revival,” published on February 3, 2014, written by Jonathan Cable and Koh Gui Qing which stated; “Manufacturers around the world enjoyed a solid start to the year as order books swelled, surveys showed on Monday, though a struggle for growth in China and a downturn in France took the shine off the overall picture. Euro zone factories had their best month since mid-2011 and, with unemployment near record highs, increased headcount for the first time in two years. They were led by a sharp pick-up in Germany and a revival among the states on the region’s periphery. But France, the bloc’s second biggest economy, remained a drag on the region.”

As an example Greece, when they entered the EU they had a bad credit rating and any loans would of cost them a lot in interest, when they joined the EU they effectively got the same rate on loans as Germany who as you probably know are very stable in the financial sector, so Greece took loans out at low interest rates for years.

Yah, Greece has always been a financial disaster like Argentina or Zimbabwe… now it’s all gone sour they are left with huge debts and so on, Italy and Spain are in the same boat and seeing as the UK loaned ALOT of money to Spain and others we are massively exposed to the crisis. Spain for example has more empty property (new builds) than the ENTIRE USA.

Real estate tanked in Spain, we all read about that in the WSJ, few in the US realized it was that bad. In 2008 China was challenged even after their 2008 stimulus as their municipals did elaborate growth projects, building for the sake of it?

Remember the original plan for the EU was to introduce one currency (which they did) and then introduce a EURO Government to manage it, the second part never happened and now the backlash is huge, and it doesn’t really matter that the 2008 crisis started in the US. The EU wasn’t doing that well before the crisis. And we shouldn’t blame the US for the crash, let’s not forget one of the enablers was AIGs London Office selling insurance often with guarantees in excess of 130% of face value on those mortgage bundles and credit default swaps.

Yes, we have some socialists in the US and when the capitalists and socialists get together or start using each other it is as if everyone loses their brains. So, the slow-motion train wreck and Eurozone melt-down continues, who is to say if it can continue for long without falling apart, and once that engine falls off the plane, its coming in for a very hard landing. Let’s hope that doesn’t happen in 2017.