Although legal market observers have debated the subject, our research documents that marketing budgets at small law firms have increased significantly over the past three years,’ said Ann Fullenkamp, senior vice president for the small law firm market at LexisNexis. ‘Moreover, we feel our study finds that this trend accelerates as you move to the larger firms within this segment of the market. For example, in 2002, only one out of 20 law firms surveyed with 11 to 20 lawyers reported spending at least 5% of their revenues on marketing; this year, that percentage has exploded to one out of five firms.
The average lawyer in a small firm spends 8% of their week on marketing-related activities followed by 63% practicing law and 14% managing their practice. Like large law firms, small firms are starting to employ marketing professionals. 13% of firms with 11 to 20 lawyers now have a marketing manager.
What’s perceived as the most valuable marketing tactic for lawyers? The Web.
- Firm Web site (89%)
- Legal directory listings (85%)
- Public relations/articles (79%)
- Seminars (78%)
- Client meals/entertainment (75%)
- Print and online yellow page (68%)
Where do blogs sit in this study? Darn high, being they are a combination of Web site, public relations/articles & seminars.
Kudo’s to Martindale for this study. Good stuff.