From over 30 years of surveys, the three highest marketing and business
development costs for most law firms are:
1. In-house staff
(including salaries, benefits, bonuses, etc.),
2. Individual lawyer
travel and entertainment, and 3. Seminars, events, conferences (all including firm/PG produced, co-sponsored, speaking at, etc.).
The key to improving ROI is to identify the key areas where - if
improved, made more productive, efficient, and/or effective - will deliver the
highest return-on-investment in the coming year.
Some specific ways to save costs and get better results from your
marketing and business development send are to: use project management and/or
process improvement techniques: identify projects, tasks, deliverables, and
opportunities that overlap in more than one department within the firm;
internally collaborate on ways to improve the process to streamline, maximize,
re-purpose, re-cycle, re-use, outsource, to create efficiencies. Other commonly
used strategies to save money include: eliminating and/or reducing items of
least value, re-negotiating, creating an inventory then and ranking all (or top)
existing content then refine, re-purpose, and/or re-use existing content as
appropriate.
Many other proven and specific
strategies, techniques, tactics, and actual examples are discussed during this
webinar on demand: “Best Practices
to Improve Your Firm's Marketing & Business Development ROI”.
