ROI for marketing

Even marketing folks are concerned about the return on the investment in one’s daily activities. While some folks, yes, lawyers too, ignore the money, marketing professionals are trying to convince their management that they are important to the success of their organization, that they are responsible for a lot of new business.

AdAge says: "…Return on advertising investment has always been a priority for marketers, but in the recession it flew to the top of the list. As chief marketing officers fought to justify spending within their organizations — often via spirited discussions with procurement departments about where the dollars are going… " The Days, the subject matter of this article, I’m pleased to say are friends … and outstanding marketers who focus on providing a profit on marketing dollars spent.

Do you look at this issue? Can you determine whether the money you spend is producing a profit, is enabling you to expand in your practice area, is improving your skill as a lawyer, or otherwise contributing to the improvement of your law practice?  You should. If not, you’re in the gardening, playing with the dirt rather than growing gorgeous roses for sale to others who can appreciate your skills.

Categorized in: Cash Flow - Finances, Management, Marketing