A law firm has many expenses.
Building rent or mortgage, utilities, and payroll are among the largest expenses. Smaller expenses might include buying coffee for the office or the cost of paper and supplies. If you’re struggling with revenue, each of these expenses can hit like a Mack truck — even the small ones.
Have you ever heard the line “you have to spend money to make money?”
I’m sure you have. But we’re not talking about coffee and paper. We’re talking about marketing.
Do You Think Your Marketing is an Expense?
Law firm marketing costs money too, and it’s common for lawyers to lump those costs in with rent and utilities, at least mentally. It’s just another bill to pay, right?
Thinking about marketing as an expense and not an investment is where many lawyers go wrong.
Expenses can’t really bring more money into your office. Buying new gel pens for your office is an expense because there’s no way that those gel pens are going to return any money to you. (It’s okay, you can still spring for the gel pens. Your staff will thank you).
Marketing, on the other hand, has the potential to grow your law firm’s revenue by leaps and bounds if it’s done right. Unlike expenses, marketing can and should be bringing more money into your office, therefore classifying it as an investment.
Schedule a breakthrough session today to make sure your current marketing is paying off. http://meetme.so/LawFirmMentor