Law Firm Marketing Spending Is Up
Among the many findings of the BTI Consulting Group's latest study is that budgets climbed in law firms of all sizes in 2006. The largest law firms are dedicating a steadily increasing percent of firm revenue to marketing activities. AmLaw 200 firms are seeing a sharp spike in their marketing budgets as a percent of revenue. Additional staff is driving the bigger budgets. Over 50 percent of the marketing budget at the largest law firms goes to salaries and business development. Top marketers are making critical changes to staffing including: Redefining or creating new, discrete roles, and hiring practice-specific specialists to boost the firm’s profile in targeted areas.