Part II: Small Firm Marketing Survey Details
Continuing my look at the small firm marketing survey sponsored by LexisNexis® Martindale-Hubbell® and conducted by Harris Interactive®, I want to focus on the dollars spent on marketing.
Marketing Expenditures: (Remember that 80% of respondents were in firms of less than 6 lawyers)
The highest percentage of revenue dollars (74%) was spent in just four areas in 2005:
• Yellow Pages - 22% (decrease of 3% over 2002)
• Client Entertainment - 20% (decrease of 1%)
• Legal Directory Listings - 19% (increase of 1%)
• Firm Web Sites - 13% (increase of 1%)
Other activities that neither saw an increase nor decrease in percentage of spending over the three years include:
• Event Sponsorships – 7%
• Giving/Hosting Seminars – 6%
• PR/Writing Articles – 5%
• Referral Services – 3%
• Local Outdoor Ads – 3%
• Sponsorships on Legal Web Sites – 1%
Web site paid-per-click placements did increase from 1% to 2% of revenues over the period.
The survey reports that larger firms (6-20 lawyers) spend more on client meals and entertainment, event sponsorships, and giving/hosting seminars than smaller firms. Whereas smaller firms (1-5 lawyers) spend more on print/online yellow pages, and referral services.
NEXT: Perceived value of various marketing tools.
Again, you can Download file containing the survey.
