Sunday, June 29, 2008

The High Cost of Inadequate Marketing

What happens if you don't market your practice the way you know you should? Perhaps nothing ... in the short run. Chances are you will continue to stumble along, getting sufficient business to keep you busy but not highly profitable.

I recently had the chance to meet with a prospect again for the second time in a few years, following some initial discussions that didn't move beyond polite talk. At the time the firm was new and understandably cautious about spending money on marketing programs. It's a fact that in lean times, marketing is frequently viewed as discretionary.

Fast forward, and we can see that the firm tried over the years to gain traction in a competitive industry and geographic market on a nominal marketing program, with only modest success. Still relying on a low-tech web site, they are missing a tremendous opportunity to increase their visibility through effective search engine marketing. Competing firms that made an Internet marketing investment, by contrast, are reaping the rewards of their on-going marketing campaigns.

There are many marketing mistakes that lawyers, law firms and experts make, and under-emphasizing an appropriate marketing effort is one of them.

Starting this week, we are launching a series entitled "10 Legal Marketing Mistakes." Stay tuned to learn how to avoid common business development errors that can cost you both time and money.

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