Law Firm Marketing Budgets and Client Service
Michelle Golden covers an annual rite of fall in her post on developing marketing budgets for marketers. Since I like Michelle's work I'll look forward to her additional posts on the matter. But I want to emphasize one thing she alludes to already (and hopefully will be expanding on):
When planning your spending, bear in mind that it is far (FAR) easier to keep an existing client or get additional business from that existing client than it is to generate new clients altogether.
Your spending should reflect that reality.
If your scheduled expenditures are largely geared towards acquisition of new clients expect a lower ROI. Conversely, if your dollars are geared towards things that help you serve your existing clients better expect higher ROI.
And for goodness' sake avoid the temptation to spend your dollars on things that are "sexy" but shaky in their ROI. Unless, of course, you're paid to be sexy but ineffective (i.e. your name is Anucha Browne Sanders and your boss is Isaiah Thomas). OOPS. I digress....
Tom Kane agrees, apparently, but with less verbiage.
