Most lawyers grapple with the threshold question, “Should I invest time or money into marketing? If it’s both, which is more productive?” For solo practitioners or lawyers in smaller firms, the decision takes on even greater importance. Few firms have a surplus of either resource—except for startups that have plenty of non-billable time—so taking the right steps in marketing literally could be a make or break proposition. Let’s look at the pluses and minuses of spending time and/or money on marketing.

Money. Most law firms spend surprisingly little on marketing—less than 2% of revenues for general practice firms or 7% for PI firms, according to the Altman Weil Survey of Law Firm Economics, an annual study that tracks spending trends. For some firms, advertising on television, cable, billboards or the web is the strategy of choice. Lawyer advertising doesn’t have to be “sleazy,” although much of it is, but it does have to get a simple message across to the right people at the right time. Advertising should be considered an engine for delivering prospects, many of whom need to be qualified by the firm’s lawyers before taking on their matters. But:

Set reasonable performance expectations. Lawyers are impatient and expect immediate returns. Payoffs from advertising may not occur for three to six months or more.

If the firm is considering television advertising, there are many agencies that syndicate their work among a number of law firms. This means firms pay for a portion of the advertising (and the leads) because the spots are shared among several firms. For many firms, this is the way to go. The ads are usually tasteful and effective. Equally important, the agencies employ media experts that know the best times and stations to place the advertising.

Forget about outdoor advertising. It is probably effective, but it’s a blight on the community. It’s not how you want to be remembered.

Of course, you’ll need a website. There are many prepackaged websites as well as developers that will customize a template for your firm. Don’t scrimp on how browsers find your site, though. Ask your developer about metatags and optimization.

Time There’s a new buzzword for face-to-face contact: “viral marketing.” This means creating interest in and use of your services through personal exposure among potential clients and—horrors—asking for business. To get time on your side:

Get friendly with local reporters who can call on you when they need a quote in your field of expertise. There’s no press like free press.

Rub elbows with decision-makers in your community that can refer you work: bankers, accountants, the Rotary or other service clubs, the Chamber of Commerce, local boards and more. Make sure they know about your firm by volunteering your legal services to the organization.

Speak to community groups, schools, retirement homes and at workplaces. Make sure you have handouts.

Ask for referrals from larger firms and from clients and previous clients. Send emails or alerts to these sources to maintain awareness.

Whichever direction you choose—and each clearly has its merits—be patient and evaluate which approach works best for you. Remember, “what gets measured gets done.”

Charles A. Maddock
Altman Weil, Inc.
P.O. Box 625
Newtown Square, PA 19073