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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.
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Managing Well-Being In the Legal Industry
By Vivian Hood
A recent LMA Well-Being Wednesday program provided a range of big ideas and small tips for legal marketers and law firms on implementing a well-being program.
The Four Legal Sales Strategies
By Eric Dewey
The ‘best choice’ provider pitch may not be the optimal sales strategy. It's better to adjust to where the prospect is in their buying decision process — whether that means they are looking for providers, they are studying the situation, they already have counsel, or they have decided not to address the issue.
Time Well Spent: Make Meetings Valuable
By Sharon Meit Abrahams
“Ugh, not another meeting!” Do you hear this from your colleagues and direct reports? If so, you should turn your meetings from a waste of time to a value-added use of time. We know meetings are important. They increase collaboration, set accountability, and create a shared sense of purpose and progress — all important elements of a happy, successful workplace.
Are You Facing a Problem or a Crisis?
By Elizabeth Lampert and Lara Cupit
Recognizing the many degrees of severity and activity levels is crucial when a matter presents itself. Is it time to go scorched earth or take it in stride and allow a situation to fizzle? When defining the spectrum from minor issue to crisis, it is vital to understand how a problem can become a crisis if left unattended or how jumping the gun and overreacting can be disastrous.
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