Client: An Am Law 200 firm in 10 second cities across the middle of the country had merged three times, resulting in hybrid cultures and processes. Their MBA Chief Marketing Officer, a veteran of the financial industry, sought a comparative study and Needs Analysis to illustrate best practices for Marketing Budget Allocation among the law firm’s true peers and competitors.
Need: We performed a Needs Analysis study that involved interviewing 16 key internal participants in the law firm’s marketing and budget processes; reviewed three years of budget expenditures and information and then did proprietary surveys of four peer law firms, defined as those of similar size, location (not major markets) and in similar practice areas.
Result: Our resulting report provided a clear comparison of our client to (1) four peer/competitors and (2) the full Am Law 200 in the areas below.
- Law firm marketing budget categories and percentages
- Staff size, roles, location and reporting relationship
- Allocation process
- Marketing plan creation process
- Timing of marketing planning process
Our specific recommendations for change took into account this law firm’s unique culture and existing processes and are currently being implemented in the new budgeting cycle.