In a post last month, I mentioned one Texas law firm that actually admitted it was increasing its budget for marketing, rather than decreasing it. Definitely not the trend, I can tell ya. But smart.

Now we hear about a number of firms in the Philadelphia area that will be refocusing, and possibly redirecting their business development efforts, but will not likely be cutting their marketing budgets either, according to an article that appears online in the New York Lawyer (free subscription required).

The comments of Stephen Madva, chairman of Montgomery McCracken Walker & Rhoads, particularly got my attention, and not just because my wife worked at the firm a few years back. What he had to say was that his firm is “absolutely not” going to cut back on marketing, and actually plans to increase it, according to the article.

He said “This is not the time, in my mind, to cut back on marketing…we have to stay top-of-mind with our clients and be out in the community and represent markets as much as possible.” He concluded, “This is not the time to hunker down, it’s time to get our visibility out there.”

Double “amen” to that!

  • Sad but true, especially when marketing per se is typically looked at as an “expense,” rather than potential for return on investment. Unfortunately too many folks equate visibility with spending money, and that certainly is not the case ie: referral marketing.

  • Bobby Valentine

    Truly. The economic climate calls upon firms to innovate and push new marketing campaigns. Counter-intuitive for some, maybe, but the atmosphere provides a unique opportunity for firms to surpass others by way of competitive differentiation. And true, variants of referral marketing will possibly trump legal marketing efforts in 2009 in yielding the best return on investment.

  • This is so true. Marketing plays a big role in a company’s success. The most effective and affordable marketing method nowadays is Referral Marketing. It’s proven and it’s very easy too. It’s really amazing.