Posted by: johnocunningham | January 21, 2015

Trends In Legal Marketing Budgets

A recent HeraldOnline article provides some useful insights into law firm marketing budgets at law firms ranked 101 to 200 in the AmLaw 200 (generally, firms with 125 to 500 lawyers in the U.S.). Among the interesting findings cited from a J. Johnson Executive Search survey are the following:

  • These firms have a marketing budget of about 3 percent of firm revenues (not clear if that budget includes business development and sales under the marketing umbrella);
  • Sponsorships take up nearly 16 percent of the marketing allotment;
  • Marketing staff include, on average, one full-time employee per 12.9 lawyers;
  • Marketing leaders have C-suite responsibility and titles at 2/3 of these firms; and
  • Those CMOs are investing in content creators and hiring in-house technology, business development and event planning pros.

The continued elevation of the marketing function to a C-suite level indicates that law firms are getting more and more serious about competing for clients in the same way that businesses compete for clients and customers. Firms that under-invest in marketing pros and marketing differentiators, such as content creation and technology, will likely fall behind the curve while leading firms take more and more market share.

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