Law Firms and Pay-to-Play Marketing: Are the Costs Worth It?
Larry Bodine of the Professional Marketing Blog shares some really neat and creative law firm marketing ideas. First up is what Bodine terms
the best lateral partner announcement, ever, featuring the slogan "They're Back!" alongside a photo of an attorney with arms thrown jubilantly in the air. The ad, which proclaims the return of two partners to Long Island, N.Y., firm Meltzer, Lippe, Goldstein & Breitstone, is intended to attract other laterals by showing that the firm is such a terrific place that even those who've left eventually return. The ad cost $2,000 to run. The second marketing idea is this cocktail party giveaway, an attractive ceramic coaster featuring copies of paintings of various cities by the hosting lawyer's father. The coasters include a one-page description of the scene as well as the firm URL.
These are really nice perks, but not something that all lawyers can readily afford. At the same time, a $2,000 ad or the cost of 200 coasters is modest compared with what some firms are spending on marketing. As this article, Shelling Out for the Spotlight (ABA Journal, May 2007), describes, firms are paying megabucks for "pay to play" marketing opportunities such as participation in a roundtable discussion or inclusion in a corporate counsel publication.
Are all of these extras necessary for firms to compete for clients in today's competitive environment? Are firms paying for these marketing measures because they produce results or just to keep up with their competitors?
Posted by Carolyn Elefant on April 20, 2007 at 06:21 PM | Permalink
| Comments (0)