How To Make the Most of Your Law Firm Marketing Budget (and measure your efforts)

Dec 19, 2023

Erika Steinberg, CMO2Go founder, once worked with a firm that brought a few new practice members to a costly industry conference. But they didn’t just attend for the sake of attending. They went with the clear goal of establishing new relationships.

Every year, the firm increased the number of people they brought to the conference so that new members of the practice could participate. They also continued to deepen the existing relationships they had. Eventually, this firm built so many strong relationships that they held a client dinner during the conference, which became so popular that conference attendees would reach out to them beforehand to ensure they received an invitation.

Because of their strategic efforts, this firm went from being a handful of conference attendees to being a sought-after participant who was immediately recognizable in the industry.

Many midsize firms engage in marketing activities – like attending conferences and events – but don’t always have clear strategic goals in mind. Here are some questions you should ask yourself when considering this year’s marketing activities.

➢ Did we achieve our marketing goals this past year?
➢ Which activities were most effective in achieving those goals?
➢ How will we define and measure the success of those activities going forward?
➢ Should we consider investing our money elsewhere next year?

We encourage you to think carefully about how you define and measure success. If you attended a conference or event, what actions did you take afterward to make it successful? Did you stay in touch with people, build new relationships, or get business? How can we build on that this year?

Sometimes, getting new client business right away isn’t the most practical goal. But keeping the firm top of mind, providing great client service to existing clients, and promoting goodwill can be equally important measures of success.

Be intentional and realistic with your goals – and make the most out of your investment.