Comments on: Law Firm Leaders – Save Money Now By Cutting Marketing!

By: Compassion and Change are not Opposing Principles « Corcoran’s Business of Law Blog

Thu, 06 Aug 2009 00:06:09 +0000

[...] high performers due to some misguided sense of fairness. (The concept of fairness is often misused by [...]

By: Timothy B. Corcoran

Timothy B. Corcoran — Mon, 20 Apr 2009 20:52:06 +0000

In an excellent article in the New Yorker on April 20, writer James Surowiecki describes how packaged cereal manufacturer Kellogg grew while rival Post declined due to differing marketing strategies during the Great Depression. He also talks of the difference between business risk (“you have a sense of the range and likelihood of possible outcomes”) and uncertainty (“it’s not even clear what might happen, let alone how likely the possible outcomes are”). For law firm leaders seeking guidance on specific approaches to wielding the red pen on marketing budgets, this article is a must read. See: http://www.newyorker.com/talk/financial/2009/04/20/090420ta_talk_surowiecki?yrail

By: jeff

jeff — Wed, 15 Apr 2009 03:00:02 +0000

I wholeheartedly agree.
As one who has marched under the marketing banner for more than 30 years, most of it in direct response marketing, I’m still saddened and amused by the approach most businesses – not just attorneys – take with marketing. When times are good, it’s spend, spend, spend. But when they’re bad, look out!
As responsible marketers we should always spend money wisely, with clearly defined and measurable objectives for every project, good times or bad.

By: Ashley Balls

Ashley Balls — Tue, 14 Apr 2009 22:53:56 +0000

Well said Timothy
It is unfortunate to see law firms respond to the recession by simple cost cutting and downsizing when the result is just a smaller version of the same. moreover downsized firms will be less able to react effectively as the recession recedes. Firms have to develop (and use) specific marketing metrics that build and retain new business. Cutting marketing expenditure prior to carrying out a thorough analysis of what delivers and retains new business is counter intuitive and a high risk strategy.