How essential are law firm marketing departments? I guess it depends who you ask.
That department is taking a hit because of the economy, according to a recent article in The National Law Journal. Law firms that are struggling to stay afloat or maintain their practices see the marketing department as more expendable than a practice group or handful of attorneys. Other firms, however, believe now is the right time to step up marking efforts.
In a tough economy, which is the better business strategy for a firm: cut or increase your marketing?
If a firm has little to no marketing, then it will have less exposure to potential clients. Less exposure brings fewer clients, and fewer clients mean the practice will continue to struggle and could face cutting another department or more attorneys. The vicious cycle could continue until the economy picks up.
Cutting back on marketing would be more harmful to smaller firms, newer firms, or firms that haven’t already done a good job getting their name out to the general public. The bigger firms may not take as big of a hit if they cut marketing because they may already have brand-name recognition.
Attorneys and partners at a firm are often responsible for keeping clients or bringing in new ones, but can they do it without a marketing department?
That department is taking a hit because of the economy, according to a recent article in The National Law Journal. Law firms that are struggling to stay afloat or maintain their practices see the marketing department as more expendable than a practice group or handful of attorneys. Other firms, however, believe now is the right time to step up marking efforts.
In a tough economy, which is the better business strategy for a firm: cut or increase your marketing?
If a firm has little to no marketing, then it will have less exposure to potential clients. Less exposure brings fewer clients, and fewer clients mean the practice will continue to struggle and could face cutting another department or more attorneys. The vicious cycle could continue until the economy picks up.
Cutting back on marketing would be more harmful to smaller firms, newer firms, or firms that haven’t already done a good job getting their name out to the general public. The bigger firms may not take as big of a hit if they cut marketing because they may already have brand-name recognition.
Attorneys and partners at a firm are often responsible for keeping clients or bringing in new ones, but can they do it without a marketing department?
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When there\'s a dearth of clients, you need to make an extra effort, not a lesser one, to gather them.
My contact info:
Nicki Laycoax
nicki@squishdesigns.com
www.squishdesigns.com
www.twitter.com/nickilaycoax
I am happy to help.