• Home
  • About
    • Our Team
    • Community Involvement
    • Mission and Values
    • PRecision Curriculum
  • Services
    • Public Relations
    • Content
    • Chambers Law Firm Rankings
    • Crisis & Litigation PR
    • Supreme Court Litigation
    • Media Training
    • Digital
    • Video
    • Poston Programs and Webinars
    • Podcasts
    • Public Affairs
    • CEO and Executive Leadership Communications
    • Internal and Employee Communications
  • Industries
    • Legal
    • Financial Services
    • Real Estate
    • Health Care
    • Architecture, Engineering and Construction
    • Associations & Professional Societies
    • Other Professional Services
  • Results
  • Blog
  • Careers
    • Openings
    • PRecision Curriculum
  • Contact
  • Search
  • Home
  • About
    • Our Team
    • Community Involvement
    • Mission and Values
    • PRecision Curriculum
  • Services
    • Public Relations
    • Content
    • Chambers Law Firm Rankings
    • Crisis & Litigation PR
    • Supreme Court Litigation
    • Media Training
    • Digital
    • Video
    • Poston Programs and Webinars
    • Podcasts
    • Public Affairs
    • CEO and Executive Leadership Communications
    • Internal and Employee Communications
  • Industries
    • Legal
    • Financial Services
    • Real Estate
    • Health Care
    • Architecture, Engineering and Construction
    • Associations & Professional Societies
    • Other Professional Services
  • Results
  • Blog
  • Careers
    • Openings
    • PRecision Curriculum
  • Contact
  • Search

How to Make the Business Case to Invest in Marketing and Business Development

  • Posted by Poston Communications
  • On January 29, 2019
  • business development, Data, law firms, Legal Executive Institute, Legal Marketing Association, Legal Marketing Association Atlanta, marketing

Share This...

Are you struggling to get buy-in for increased investment in your firm’s marketing and businesses development efforts? You’re not alone. Marketing and business development are often difficult to quantify, so justifying that spend can be a challenge.

Bill Josten, the strategic content manager of strategy and performance at the Legal Executive Institute, has some data that may help. Josten shared an analysis of results from the recently released Dynamic Law Firms Study at a recent Legal Marketing Association luncheon in Atlanta and in an article he authored for Marketing the Law Firm.

The study examines the key differences between dynamic firms, defined as law firms that are experiencing top growth in revenue-per-lawyer, overall firm profits and overall average profit margin, compared with static firms, defined as firms lacking that growth.

The study shows how these dynamic firms are setting themselves apart from the rest. Strategically investing in marketing and business development is one of those top differentiators.

According to Josten, the study shows that dynamic firms’ per-lawyer marketing spend grew by 5.9 percent year-over-year from 2015 to 2016, and another 3.4 percent from 2016 to 2017. Meanwhile, static firms’ marketing budgets on a per-lawyer basis increased by only 0.5 percent from 2015 to 2016 and shrank by 1.7 percent from 2016 to 2017.

Change in marketing spend, per lawyerIt is important to note that both the dynamic and the static firms expressed a desire to invest in marketing and business development, but it takes a corresponding investment of resources to make it a reality. This means that being able to attain the resources you need to conduct business development coaching and client feedback programs is the essential differentiator.

While attorney productivity always will remain a key factor, investment in marketing and business development can play a large role in the difference between a firm that is killing it and a firm that is getting killed.

0 Comments

Recent Posts
  • Nine Tips to Master Your On-Camera Presence and Advocate Virtually in 2021
  • How Restaurants Are Handling Crisis Communications
  • Jackie Labrecque Earns Accreditation in Public Relations 
  • Four Crisis Communication Trends for 2021 
  • In the Aftermath: Should Your Firm Take a Stand?
Archives
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • November 2017
  • September 2017
  • July 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • October 2016
  • August 2016
  • July 2016
  • June 2016
  • April 2016

What Selling Girl Scout Cookies Taught Me About Media Pitching

Previous thumb

LinkedIn Tests Livestreaming Video with LinkedIn Live

Next thumb
Scroll

What We Do

  • Services
  • Industries
  • Results
  • Blog

Who We Are

  • Our Team
  • Community Involvement
  • Mission and Values

Poston Communications is a public relations agency focused on professional services companies including law, accounting, architecture, associations, construction, engineering, financial services, health care, human resources, interior design, investment banking, management consulting, real estate, recruiting, technology and venture capital.

404-875-3400 | Mailing Address: 7025 CR 46A Ste. 1071-528 Lake Mary, FL 32746 | [email protected]

  • Sitemap
  • Terms of Service
  • Privacy Policy

©2021 Poston Communications LLC - All rights reserved