For top law firms, one expense reportedly rose about 30 percent in 2006, far outstripping growth in profits or revenues: marketing. Am Law 100 firms budgeted an average of $9 million for marketing last year, according to a new survey by Boston-based BTI Consulting Group. While law firms still spend less on marketing than most of their counterparts in the professional service industry -- and far less than the rest of corporate America -- the game is changing, as firms merge and competition grows.
March 05, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Top law firms grew by leaps and bounds in 2006. But one expense reportedly rose about 30 percent from the previous year, far outstripping growth in either profits or revenues: marketing.
Am Law 100 firms budgeted an average of $9 million — or 2.2 percent of their gross revenue — for marketing last year, according to a new survey by Boston-based BTI Consulting Group that polled about 60 percent of Am Law firms.
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