Although I have preached about the need to increase not decrease marketing budgets on this blog over the past month or more, let’s be realistic – I say to myself – not every firm will follow that advice. Some have or will cut budgets no matter what. So, what’s a poor rainmaker suppose to do.

Try to do more with your shrinking budget dollars Michael Fleischner at The Marketing Blog tells us.

How, you may ask? A few things Fleischer suggests include:

  • Leverage your client contacts by asking about their other needs, and “pain points”(especially in the current economy);
  • Ask for referrals (it is amazing how few lawyers do this), and ask how you might help them with referrals;
  • Communicate often and oftener (work at getting more face time or “touch points” with clients and referral sources), and
  • Try “new marketing methods or ideas” (this one I might take issue with, and suggest that it’s better to stick with those business development things that have worked in the past IMHO, especially since money is tight).

These actions don’t have to cost a lot of money, and can be accomplished even if your marketing budget is limited.

  • While, I understand Tom’s reluctance to advocate “new marketing methods or ideas” in tough times, I think it is vital to be constantly challenging your current methods.
    That doesn’t mean sinking a lot of money into a risky unproven venture. On the other hand, it does mean making small investments into new ideas.
    Necessity is the mother of innovation. When you need more effective and efficient marketing strategies, you will find them. But you have to be willing.

  • Thanks, Gyi,
    I totally agree that “when you need more effective and efficient marketing strategies” a firm needs to challenge their “current methods” of marketing and business development. It’s just that if it ain’t broke, and in a down economy with a limited marketing budget, now is not the time to be experimenting with new marketing strategies. Rather, do more of what is working for the firm.

  • If you have a limited budget, spend it on your customers rather than on newspaper or radio ads. Reward referrals and treat your customers. The feeling of reciprocity will lead them to bringing you more business.