RubyLaw Identifies Gaps in Legal Marketing Tech Stacks that Continue to Limit Law Firm Progress
New York, New York, September, 16, 2022, RubyLaw, the company behind the eponymous leading Content Lifecycle Management (CLM) platform, has published a research paper revealing its findings from the 2022 RubyLaw Legal Marketing Technology Study.
The objective of RubyLaw’s pioneering research is to give legal marketers a representative, current, holistic, and objective viewpoint on the prevailing systems and tools used by law firms of all sizes. RubyLaw is most interested in the legal marketing technology ecosystem as the RubyLaw CLM platform serves as a content hub for firms that then leverage that content via integrations with other systems in the legal marketing technology stack. Commensurate with the importance of the study, RubyLaw has partnered with the Legal Marketing Association (LMA), to expand the reach and visibility of the research.
The result is a groundbreaking paper with insights that may be summarized as follows:
—In comparison to the 2021 study, large gaps in marketing technology adoption remain across the Legal sector
—Firms that underinvest in platforms are costing themselves time, and wasting as much as $100,000/year
—The failure to support key systems with ancillary tools is damaging law firm brands and reputations, leading to missed business opportunities
To support its assertions, RubyLaw’s study is backed by data supplied by LMA members and legal marketers at-large from firms ranging from $0-100 million, $100-500 million, and $500 million-plus in revenue, collected via a 33-question survey disseminated in the spring of 2022. Findings revealed that:
—Below the $500 million revenue segment, upwards of 40% of firms are not using marketing automation, with 70% of firms below the $100 million revenue threshold not using it
—Upwards of 70% of firms below the $500 million revenue segment are not using Proposal & Automation software
—40% of mid-size law firms ($100-500 million in revenue) are not using Experience Management software, with more than 80% of small firms ($0-100 million) not using it
Initial findings led to the publication of the 2022 RubyLaw Legal Marketing Tech Stack, followed by a July insights webinar, Stack Ranking, Part 1, during which the RubyLaw team walked through the survey results. A follow-on insights webinar, Stack Ranking, Part 2, is planned for September 30, 2022.
Legal marketers interested in translating insights from this year’s study into business cases for investment, or in optimizing their respective tech stacks by leveraging the RubyLaw Content Lifecycle Management (CLM) platform—including to power web content, to automate proposal and pitch documents, and to manage matters and firm experience—can connect with a RubyLaw representative for more information.
An excerpt of RubyLaw’s research may be found in the LMA’s Strategies & Voices publication, while the full report may be accessed here.
“We’re thrilled to release this year’s research paper, highlighting gaps in legal marketing technology, but also opportunities for marketers to accelerate progress and improve outcomes for their law firms,” said Jaron Rubenstein, President and Founder of RubyLaw. “The data is clear: Firms are not realizing their marketing potential because they’re failing to invest holistically in platforms and complementary tools, leaving the sector lagging behind others.”
About RubyLaw:
RubyLaw is a Content Lifecycle Management (CLM) platform that powers websites, manages experience data, curates and automates marketing documents in native formats, and ensures the integrity of digital content for law firms at all levels of technological maturity.
The company is reinventing how law firms engage with clients and prospects by providing a more personalized, data-driven, relevant, and holistic content experience. This is why more firms are switching to RubyLaw than ever before, with smaller, growth-minded firms opting for RubyLaw’s leaner, cost-effective, all-inclusive marketing technology solution, RubyLaw Express.
