Both of the most common mistakes law firms make surrounding their marketing deal with allocating their marketing budget. Avoiding these two mistakes is a key component of a successful marketing plan and positioning your practice to grow.
Mistake 1: Not Spending Enough on Marketing
Lawyers and law firms in their early years often make the mistake of not investing in marketing at all as they work to get established. The truth is that, to reach their goal of getting established, investing in marketing is a necessity.
Attorneys and firms make a similar mistake when times are tough; they pull back on their marketing spend in an attempt to keep the books balanced while they go through a downturn or slow period in their practice. Again, investing marketing is the best way to turn your fortunes around when business is slow.
Mistake 2: Not Reinvesting Growth Back into Marketing
Too many lawyers and firms treat marketing like a casino game. They put their chips down on a marketing strategy, reap the benefits, and then cash out. A better approach is to reinvest a portion of the growth back into marketing to continue growing the practice.
“Yeah, okay. The marketing agency is telling me the answer is always spending on marketing. Convenient…”
We get it. The truth is that marketing is something where you’re either all in or you’re all out. Trying half measures or selectively investing here and there is a recipe for disappointment. Get in touch with us at Above the Bar Marketing to get started on your custom marketing strategy. We’ll take care of the rest.