The hidden costs of cutting your legal marketing budget

June 19, 2019

The Hidden Costs of Cutting your Legal Marketing Budget

Note: This post was first published on the Thomson Reuters Legal Executive Institute blog

It’s the classic chicken-and-egg problem: You don’t have money to invest in marketing, but you need marketing to grow. And while there are plenty of studies clearly demonstrating a direct link between law firms’ marketing investment and financial growth, many firms still choose to cut back on marketing when money gets tight.

This was one of the findings from a recent study by the Thomson Reuters Legal Executive Institute. In the 2018 Dynamic Law Firms Survey, law firms categorized as “static” (no growth or contraction) reduced their marketing spend by 1.7% in 2017. That’s a 5% point difference from “dynamic” (high-growth) firms, which grew their marketing spend by 3.4%.

So why do many law firms still axe the marketing budget first when looking to save money? My guess is that there’s a lack of understanding surrounding the many hidden costs of cutting marketing. Below are seven of these tangible, day-to-day losses and how they impact a law firm long after the financial crunch is over.

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7 decisions to make before beginning a content project

June 6, 2019

7 decisions to make before beginning a content project

Content projects — such as website updates and new bios, practice group descriptions, case studies and project descriptions — may seem simple at first glance. Just figure out what needs to be written, do the research, conduct subject-matter-expert interviews and start writing…. Right?

Not so fast.

Before you ever set fingers to keyboard, you must first make several key decisions that will guide your content project, saving you from future headaches, disagreements and inconsistent (and thus unprofessional) content.

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8 ways to get people to sign up for your newsletter

May 16, 2019

8 ways to get people to sign up for your newsletter

Want the good news or the bad news first?

Let’s go with the good news: Email marketing is incredibly effective for B2B companies and professional services firms.

And now the bad news: Your email list degrades by about 22.5% every year. People change jobs, unqualified leads unsubscribe and others disengage after emails get trapped in spam folders.

I’m no mathematician, but with a churn rate of 25%, if you don’t grow your email list, you’ll be left with just you and your grandma reading your emails in a few short years.

Here’s more good news (you just got served a shit sandwich): There are lots of ways to grow your email list, and I’ve helpfully summarized them for you below.

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Lessons from the 2019 Legal Marketing Association Annual Conference

April 12, 2019

This week, more than 1,500 attendees gathered in Atlanta, Georgia, for the 2019 Legal Marketing Association Annual Conference. I try to attend the conference every year, as it’s one of the best networking and educational opportunities in the legal marketing profession.

While I couldn’t attend every session (I’m good, but I ain’t that good), I wanted to give you a brief overview of three sessions covering three different, but critical topics: diversity, economic trends and marketing technology.

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6 ways to get the most from your public relations agency [updated]

March 5, 2019

If you’ve ever worked with a public relations agency — or any consulting firm or professional services provider for that matter — you know that the outcomes can widely differ. There are many, many PR firms out there, and their level of expertise, experience and ability to consistently deliver results varies greatly.

But let’s say you lucked out and hired a high-quality public relations agency (yes, that hyperlink is to us… wink, wink). What’s your role in ensuring the success of the relationship?

It’s pretty significant.

As with most things in life, you get back what you put in. A successful PR initiative requires investment — not just the cost of the PR agency, but your own time and expertise.

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Why B2B marketers can’t afford to ignore email marketing

February 19, 2019

If you’re a B2B marketer and not taking advantage of email, you’ve missed the effective-marketing boat (sounds like a fun party, doesn’t it?).

To put it in a way your CEO will understand, if your B2B company is not engaging in email marketing — including email newsletters, drip campaigns, lead nurturing emails, prospecting and promotional emails — your client acquisition and retention will suffer.

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How to get your employees to share your content (and why it’s so important)

February 5, 2019

How to get your employees to share your content

You’ve written thought-leadership blog posts. Designed beautiful infographics. Developed engaging videos. Created valuable e-books and white papers.

You’ve then shared the content on your company’s social media accounts, sent it to industry influencers, promoted it on your email newsletter, sent out a press release and more.

Now, wouldn’t it be fantastic if all of your employees shared the content to their social media networks? “Yeah, right, like that will happen,” you’re thinking. But it’s not a pipe dream. In fact, it’s one of the biggest trends in B2B and professional services marketing.

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6 questions to ask before you hire a professional content writer

January 21, 2019

High-quality content is rocket fuel for today’s marketing strategies. But the difficult task of finding great writers who can create that content often stalls the marketing rocket before it ever takes off.

Great writers help you effectively communicate your message, drive sales leads and save you the time and frustration that comes with a writer who doesn’t understand your business, strategic goals, voice and tone.

Beyond looking at writing samples, how can you assess whether a professional writer has what it takes to produce engaging, clear and effective content? Ask these six questions to see if a potential writer can deliver the goods:

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8 common mistakes lawyers make on their blogs [updated]

January 15, 2019

 

(This post has been updated from our original 2014 post.) 

The legal industry has embraced blogging like no other. Blogging and lawyers are a natural fit — lawyers love to write, have niche expertise and need to demonstrate that expertise in a non-salesy way.

However, succeeding at blogging isn’t as simple as putting pen to paper (or fingers to keyboard). And unfortunately, many lawyers are failing.

Below are eight of the most common mistakes we see lawyers making on their blogs.

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About the Author
Michelle Calcote King

Michelle Calcote King is an award-winning marketer with nearly 20 years of expertise in all things marketing, content, media and public relations. Specializing in highly complex industries, she leverages superior writing skills, media savvy and a love of all things digital to move her clients’ businesses forward.

Read my full bio or connect with me on LinkedIn.

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