Do You Have a Marketing Budget?
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Do you have a marketing budget?

Every year the ABA’s Legal Technology Survey reveals how few firms – especially small firms and solo lawyers – don’t have a marketing budget. In recent years, over 70% of solo and small firm lawyers surveyed said they didn’t have a marketing budget!

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What happens without a marketing budget?

Without a marketing budget and a cohesive plan, firms resort to “random acts of marketing,” and then wonder why their efforts aren’t effective.

Creating a marketing budget forces you to take a hard look at your marketing efforts, to analyze what is working, what isn’t working, how much you spend on each marketing initiative, and what return you receive from your efforts.

In the process of creating your marketing budget, you will also be forced to plan for the year ahead and think about what events or activities occur throughout the year that you want to capitalize on, or when your slow times typically arise so that you can determine how to fill your pipeline, or how to use that additional time for planning, content development, or additional client outreach.

In short, developing a marketing budget compels you to assess your previous year’s results and to allocate your resources in the coming year to ensure that your marketing efforts work together and have the greatest impact.

Do you need help creating your marketing budget? Contact me to see how I can help.

See more articles and videos about marketing on my YouTube marketing playlist, or check out the posts below: