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Measuring ROI for Marketing Efforts

By Larry Bodine and Suzanne Lowe

[Editor's Note: As in justifying many other law firm investments, ROI for marketing seems statistically elusive. Perhaps law firm financial strategists could be helpful to firm marketing specialists in quantifying metrics such as those advocated here.]

Management guru and author Peter Drucker said, 'If you can't measure it, you can't manage it.' So why is it that so few law firms measure their marketing efforts? Why is it that so many Chief Marketing Officers (CMOs) who are getting hammered by partners to demonstrate ROI on their efforts can't do it?

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