Getting More Bang for Your Marketing Buck

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“Half the money I spend on advertising is wasted; the trouble is I don't know which half,” said department store merchant John Wanamaker. You don’t want to be heard saying that about your law firm marketing initiatives, according to business development expert Larry Bodine.

Many attorneys are still skeptical about marketing. They can’t define it but they know it’s expensive. They ask the marketing director, “What exactly do you do around here?” At an average law firm, they’ll see $80,000 spent on advertising, $50,000 spent on brochures, and $34,000 spent of public relations – and wonder where the payback is.

Law firms must be able to prove return-on-investment on the firm’s marketing efforts, and know:

• The three metrics that law firms should use to measure success in their marketing.

• Which marketing activities get the best ROI, and which are a waste of money.

• Five strategic roles for administrators that will generate new business for their law firm in a measurable way.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Larry Bodine, The National Trial Lawyers Association | Attorney Advertising

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