Gauging marketing's Return on Investment is fundamental for law firm growth and management
Many of the law firms we meet struggle to know whether the amount of time and money they spend on marketing is producing an effective return.
It is a common problem, but it needn't be this way.
By contrast, many B2B businesses have good metrics and a clear idea of the effectiveness or otherwise of their marketing spend.
Also, most law firms are rigorous in their keeping of timesheets and measuring billable hours. Why is marketing treated as a big unmeasurable?
Knowing your marketing's ROI is fundamental for your law firm's growth
Knowing your marketing's "return on investment" is fundamental. Without it you do not know whether you are spending effectively or whether investing more will boost growth.
Many law firms under-invest ultimately through having too few marketing metrics as they are unclear of the benefits or otherwise of past activity... and their growth suffers as a consequence.
To help, we are doing a series of blogs looking at different aspects of marketing and providing thoughts on how to quickly ascertain if your marketing activity is effective or not ...rather than relying on gut feel and faith.
Our blogs in this measuring marketing ROI series include:
- Is my law firm's website generating an ROI
- Is our PR working?
- Is my email marketing working?
- Are my firm's events worthwhile?
- Are our newsletters and content effective ?
- Is my marketing function generating a good ROI ?
These marketing ROI blogs can be accessed via this link. They are written for a range of professional firms, especially with law firms in mind.
I hope you find them interesting and useful.