A survey by Martindale-Hubbell� published last month contains a lot of information about the increase in legal marketing – both in time spent on marketing and dollars expended – among small law firms (20 or fewer attorneys). The survey’s executive summary contains three primary highlights:
*Importance of marketing is reflected in budget increases (11% of firms reported (in 2002) vs. 22% (in 2005) that they spend more than 5% of revenues on marketing),
*Marketing activity ranks among the top “non-law” activities in an average week (practicing law – 63% of time; managing business accounts – 14%; and marketing-related activities – 8%),
*Web sites are perceived as the most valuable marketing tactic for growing small firm practices (80% of firms report having a web site, and 89% of those find it valuable).
There is a lot more information in the survey, and I will be digging how more jewels over the next week, so stay tuned.
Thanks to Michelle Golden at Golden Practices and Kevin O’Keefe at Real Lawyers Have Blogs for steering me to the survey. If you want to see the whole survey, you can get to it by going to either link; or you can Download file containing the survey.
More to come.