Advertisements, social media campaigns, press releases, SEO, promotional items, and brochures are just a few of the many elements that a law firm’s marketing team can spend money on. The list goes on and on, and before you know it… poof! Your marketing budget has disappeared.
Understanding how to spend your allocated marketing dollars most efficiently is no simple task; yet, targeting only the avenues that result in a high ROI for your marketing dollars is a must for any legal practice, particularly small ones. It’s time to cut through the clutter and determine what to include (and what to avoid) in your law firm’s marketing budget.
Do splurge on: advertisements; don’t spend on: new content and images for other pieces
Advertisements can result in major payoffs for your firm, assuming that the content appeals to the intended audience and the ads are strategically placed. However, they can also be expensive and quickly wipe out a limited law firm marketing budget. The solution is to make advertisements last as long as possible by avoiding unnecessary redesigns and reworking them into different formats to fit various purposes.
For instance, pretend your bankruptcy firm wins a slew of local awards for excellent client service. This presents a perfect opportunity to place an advertisement in your local periodical or business journal to achieve two purposes: thank the community for their vote and announce the win to other prospects within the market. After running the ad, you can also utilize the content and/or images used in the advertisement to create a prospect email, direct mail pieces such as a brief postcard, online blog article, and press release. “Recycle” your material to save money!
Do splurge on: press releases; don’t spend on: a PR professional or agency
Press releases remain one of the best ways to spread news about your law firm and brand yourselves online and via word of mouth. Fortunately, distributing press releases is relatively straightforward and can be done by any knowledgeable marketing professional. Therefore, don’t waste any of your precious law firm marketing budget by hiring a PR professional or agency to do your administrative work.
Do splurge on: valuable consultants; don’t spend on: overpriced help
Sometimes you can’t do it all, and it’s alright to admit that your law firm’s marketing plan needs a bit of outside help. Turn to outside consultants who are experts at assisting you with branding, for instance, and you’re making a valuable investment. However, steer clear of overpriced freelancers or consultants whose services do not justify the cost. For example, a freelance marketing writer crafting the copy for one flyer shouldn’t expect the same payment as someone writing the content for your law firm’s entire website.
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