Marketing is a necessary part of the budget of any law firm. Deciding how much to spend and how to spend it can be complicated and will differ from one law firm to another. No matter what goals your firm has for growth this year, these tips should give you a good start preparing your budget.
- People who write down their goals are 42% more likely to achieve them.
- Spending marketing money on the most effective strategies will improve your marketing results and bring in more qualified leads.
- When preparing a marketing budget, you will want to: 1. List this year’s goals, 2. Check results from last year’s plan, 3. Create a revised plan to best accomplish your goals, and 4. Consider using a marketing firm.
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- When listing your goals, think of a hard number that identifies the amount you need to grow. This will make it easier to set a concrete budget. You can look at industry trends to determine how much you may need to spend. Most firms spend between 5% – 15% of their revenue. With the number of people using the internet to find a lawyer, 50%- 60% of that should go toward digital marketing. Google Analytics gives tons of information about what blog posts, emails, ads, and web pages were most effective. Build on these successes and look for ways to improve areas you identify as key to reaching your target market but under performed last year. Decide which marketing channels look most promising for achieving your stated goals and look beyond your website to ideas such as directories and social media reviews. Then define goals for each of the channels you feel are most likely to succeed so you will be able to better formulate strategies and tactics for each channel. Remember, a budget isn’t just about money. Time is also a factor. Consider consulting an experienced marketing professional for guidance.
- Here’s Why It Matters To You. Budgeting for a professional that can customize and implement your marketing plan gives you more time to focus on your law firm and yourself.
- I have helped many small firms in the area develop effective digital marketing campaigns that grow their practice and improve their return on investment. To get started on your 2020 marketing plans, set up a free consultation by clicking below.