Social Media Risks and RewardsSeptember 21, 2009

Social Media Best Practices

Panelists

• Moderator: John Lipsey, Vice President Corporate Counsel Services, Martindale-Hubbell Connected, Lexis Nexis

• Doug Cornelius, Chief Compliance Officer, Beacon Capital Partners, LLC. 

• Vanessa DiMauro, CEO, Leader Networks • Dan Goldman, Legal Counsel, Mayo Clinic• Eugene Weitz, former corporate counsel,

Alcatel-Lucent

Vanessa DiMauro

Key Findings of the Networks For Counsel 2009 Study

• Networking remains critical to the legal industry, yet resource constraints make it more difficult then ever

• Use of social networking sites has grown significantly over the past year, with three-quarters of all counsel now reporting they are members of a social or professional network

• Increasingly, counsel indicate a preference for a legal-only professional network – and nearly 10 percent already having joined one

• Only a very small minority of counsel are engaging in other types of popular social media activities such as microblogging (e.g., Twitter), Wikis and social bookmarking

• Inside counsel and private practice lawyers view the benefits of online networking differently

• While counsel are taking a “wait and see” attitude about the strategic value of the networks they’ve already joined, there is general belief that online networking will change the business and practice of law over the next five years

Leader Networks © 20094

5

48%59%

71% 78%

Corporate Counsel Private Practice

% Yes

Question: Are you a member of an online social network such as LinkedIn, Plaxo, Facebook, Xing or MySpace?

% Yes

2008

2009

Age

Are You a Member of an Online Social Network?

Counsel’s Use of Online Social Networks Is Expanding Rapidly

Both corporate and private practice lawyers are significantly more likely to report being a member of an online social network this year as compared to last

Approximately three-quarters of counsel now report being a member of such a network Growth in online network use is seen across all age groups

Leader Networks © 2009

NCC: 710PP: 764

2008

2009

2008

2009

Corporate Counsel engaging in a variety of social media activities professionally, with more than half reporting membership in a professional online community

Reading and adding comments to articles or blogs, listening to podcasts, and membership in public social networks are also common

Social bookmarking, microblogging, and online collaboration are less commonly reported among this group

6Question: What type of social media activities do you engage in professionally? Select all that apply

NCC: 710

% Engage In

7

Question: What do you think are the top advantages of participating in an online legal professional network? Select up to three.

AdvantagesCorporate Counsel

Private Practice

Facilitates easier exchange of information and experiences between peers 48% 36%

Access to information I couldn’t get elsewhere 34% 23%

More quickly identify, evaluate and select outside counsel 27% 15%

Lower costs associated with traditional networking 27% 33%

Ability to increase my visibility among peers 24% 52%

Creates a formal and exclusive forum for professional collaboration 20% 18%

It increases the speed with which collaboration can take place 20% 21%

Facilitates finding the “right” lawyer directly 16% 17%

Increase speed of selection and decision-making process 14% 10%

Reduce scheduling demands associated with travel to and attendance at events

10% 8%

Improves the reliability of information 10% 8%

Corporate counsel identify ease of exchange of information and experiences between peers as the top advantage of an online legal professional network.

Private practice lawyers most value the ability to increase visibility among peers.

While Lawyers See the Benefits of Online Networking, Corporate and Private Practice Lawyers View Those Benefits Differently

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Leader Networks © 2009

Question: Do you think online networks (i.e., social media) will change the practice and business of law in the next five years? 1 = Not at all likely, 7 = Extremely likely

Counsel Continue to Be Optimistic That Online Networks Will Change the Business and Practice of Law in the Next Five Years

About one in five corporate and one in four private practice lawyers feel that there is a high likelihood this will happen

Only about one in six corporate and one in eight private practice lawyers consider this a low-likelihood event Private practice lawyers increasingly (26% vs. 18% in 2008) believe this is a high-likelihood event

6%

11%

14%

25%27%

11%

5%4%

13%

16%

22%

26%

13%

6%4%

11%

16%

25%27%

12%

6%4%

10%

14%

17%

30%

15%

11%

Not at all Likely 2 3 4 5 6 Extremely Likely

CC 2008CC 2009PP 2008PP 2009

Likelihood of Change

8Leader Networks © 2009

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For More Information About The Networks for Counsel 2009 Study

Contact Vanessa DiMauroCEO, Leader Networkshttp://www.leadernetworks.comvdimauro@leadernetworks.com

Visit the project Web site: http://www.networksforcounsel.com Download the study: http://www.leadernetworks.com Join the discussion: http://www.martindale.com/Connected

9Leader Networks © 2009

Why I Tweet

Dan Goldman

www.twitter.com/@danielg280

What is Twitter?

• Broadcast texting: – 140 characters– Can include links and pictures

• Subscription model– “Follow” people to get their tweets– People who follow you get your tweets

What is Twitter

Tweeting a picture

Tweeting a picture

What is Twitter?

• User community has evolved the platorm– Moved beyond “I’m going 2 the bthroom”– Way to interact with masses of people– transmit information exceptionally quickly

• Iran protests• Michael Jackson death• Senator Kennedy’s death

What is Twitter

• Becoming a business tool– Channel for sharing professional

news/information– HIPAA breach notification rules– Red flag rule postponement.– New Massachusetts privacy revisions

– Professional Topic-based discussions• Hashtags allow for themed discussions• Asynchronous (tweet when you like)• Real-time synchronous (tweetchats)

What is Twitter

– Professional networks forming on Twitter• HCSM (Healthcare social media)• HCHIT (Healthcare IT)• HCMKTG (Healthcare marketing)

Hashtags

Realtime discussions: tweetchat

Realtime discussions: tweetchat

Realtime discussions: tweetchat

Why I like twitter

• Low “startup cost”– Free– 10 second setup– Requires virtually no “maintenance”

• SASSoMe – Short Attention Span Social Media– Fun-size-candy-bar of SoMe: bite sized

nuggets of content– Character limit forces prioritization and honing

on details

Why I like twitter

• Pull vs. push: – There when I want it– doesn’t clog my inbox– I can drink in as much or as little as I want

What I do on Twitter

See what people are saying about our brand

Monitor professional topics

Monitor professional topics

Drill down re items of interest

Drill down re items of interest

Drill down re items of interest

Participate in professional chats

Doug Cornelius - Blogging

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Social Media Risks and RewardsSeptember 21, 2009

Why is Online Professional Networking Particularly Useful for

In-House CounselEugene Weitz

Globalization of Law Departments

• Small and Large Law Departments are expected to be responsive in all time zones.

• In larger Law Departments, Lawyers, colleagues and clients are all over the world.

• Despite specializations lawyers are expected to know a little about a lot.

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The Reach of a Law Department

• While internal blogs and discussion boards enable internal discussion within Law Departments, Law Departments need to be in touch with the outside world.

• Contact with current outside counsel can be the end point or one of a few critical points in formulating legal opinions on issues.

• Online networking offers potentially deep contacts by profession, geography and areas of expertise.

Why Network When In-House?

• Leverage the expertise of in-house counsel outside your corporation. Access to specialists. Martindale Connected provides a gated community.

• Interact with outside counsel beyond those you have retained. Results in best in class benchmarking.

Professional versus Social Networking

• Online networking can be different things to different lawyers.

• Avoid rolodexing baseball card contacts.• After developing your stable of

connections from your vertical career, networking becomes horizontal.

• Don’t underestimate networking creativity.

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Key Takeaways

Doug Cornelius

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Doug’s Take-a-Way #1

• Set up a search to find out what people are saying about you and your company

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Doug’s Take-a-Way #2

• Set up a blog to help you organize the legal information you need to do your job.

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Vanessa DiMauro

20 Minute Social Media Game Plan General Social Media Use• Spends 5 minutes a day scanning RSS feeds, blogs and emails• 1 second to check reputation alert, topic or company key word alert

– 5 minutes to respond-- if need be -- to a blog post or social media entry– Send email to author of great article – invites to connect if she responds

Thought Leadership• Logs into your networks every few days for about 8-10 minutes (time block in your calendar)

– Connects to 1-3 people every few visits– Writes a personalized email to 1-2 connections– Scans forums or blogs

• Comments briefly on others blog entries or in a discussion thread– Answers any “Ask the Expert” questions, or ask yourself a question & answer it on occasion

• Once or twice a month (at least) – Writes or co-writes a blog entry or substantive message– Twitters new blog post (optional)– Responds to comments (need be basis)– Submits an content piece or article– Invites clients, prospects, others to join the your network(s)

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THE LEGAL INDUSTRY IS RISK AVERSE TO PROCESS CHANGE

ACCORDING TO RESEARCH– COUNSEL STRUGGLE WITH THE DESIRE TO CONNECT WITH PEERS ONLINE AND A WAIT-AND-SEE ATTITUDE ABOUT SOCIAL MEDIA

FEAR, UNCERTAINTY AND DOUBT CREATE BARRIERS TO COUNSEL’S ENTRY INTO THE SOCIAL MEDIA ARENA

BUT THE RESEARCH SHOWS THERE IS A DESIRE TO GET INVOLVED IN SOCIAL MEDIA: YOU WANT TO COLLABORATE SHARE KNOWLEDGE AND NETWORK WITH YOUR PEERS IN PRIVATE COMMUNITIES

THE PATH IS WELL WORN TO USING SOCIAL MEDIA STRATEGICALLY;

• ENTERPRISE• GOVERNMENT• MEDICAL• EDUCATION

HAVE ALL CREATED BEST PRACTICE EXAMPLES THAT CAN HELP GUIDE THE LEGAL PROFESSIONS ADOPTION AND USE.

THERE ARE NOW MANY CHANNELS AND OPPORTUNITIES FOR CORPORATE COUNSEL TO TAKE A SEAT AT THE SOCIAL MEDIA TABLE