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How much money should firms spend on marketing? Is there a good rule of thumb? Is it 2% of revenue? Or 5%? Should it vary based on the practice specialty areas? Digital marketing even further complicates the equation, since we have data available on everything we do online. What is important and what is not? Instead of simply choosing a percentage based on conventional wisdom, this article will show you three simple calculations to use when you’re trying to determine how much money your firm should spend on marketing.
By Julie Savarino
Part One of a Two-Part Article
This article defines the specific and best actions lawyers and law firms can take to expand client relationships. This first part includes specific actions individual lawyers can take to expand client relationships.
By Debra Baker
Rethinking Sales As an Act of Service
Lawyers are one of only a handful of professionals whose job requires them both to do the work and generate the business. This “Doer-Seller” Dilemma is particularly vexing for lawyers because of a long-held belief that sales is somehow beneath the legal profession and because lawyers have a limited view of what successful selling looks like.
By Pamela Cone
Because Clients Do
Given the increasing challenges facing our planet and our society, and considering our role in creating the current state of affairs, it is up to us to change the way we do business to slow and reverse the damage. CMOs can and should be among the leadership voices to help their firms recognize this as an obligation and an opportunity.
By Richard Bracken
With every request for external exposure, there is also an assumption that one effort of marketing will result in millions in new revenue. Yet, we all know that the responsibility to implement all marketing initiatives is on the lawyers.