Get Used to Those Zoom Invites: Law Firm Marketers Say Tech Is Here to Stay
Lawyers seeking a return to in-person meetings to stoke business development should be prepared for new client expectations, compliments of the new marketing tactics that have become common over the past year.
January 28, 2021 at 12:00 PM
4 minute read
When COVID-19 lockdowns spread in the United States in March 2020, law firms' marketing and business development expenses quickly took a hit. This stoked fears of further marketing cuts, said Amy Knapp, founder of law firm consulting provider Knapp Marketing. "It led to some sleepless nights," she said.
Such concern was warranted, according to the "2021 Report on the State of the Legal Market" released Jan. 12 by Georgetown University Law Center's Center on Ethics and the Legal Profession and Thomson Reuters. From November 2019 to November 2020, marketing and business development overhead expenses fell 44%, according to the report. That plunge in marketing spend was entirely tied to the pandemic, explained Thomson Reuters insights and thought leadership vice president Mike Abbott.
"That was exclusively COVID-related," Abbott said. "What we're seeing is the big-ticket items, the retreats, events and sponsorships and I would include marketing-related traveling, completely stopped." Layoffs also fueled lowered overhead marketing spend, he added.
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