September 29, 2021
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Law Firm Marketing Spend Surged This Year, but It's Still Below Pre-Pandemic Levels | The American Lawyer - The American Lawyer

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What You Need to Know

  • The surge in spending in marketing and business development departments has largely been directed at technology upgrades and talent acquisition.
  • However, according to data aggregated by the Thomson Reuters Peer Monitor, marketing spending is significantly lower than pre-pandemic levels.
  • Historically, marketing and business development has been an underinvested area for the legal industry compared to the wider business world.

After slashing overhead costs associated with travel and in-person events last year due to the COVID-19 pandemic, law firms dramatically increased spending on marketing and business development in the first half of 2021. But legal industry observers say it’s still significantly below pre-pandemic levels.

It’s not clear when allocations to marketing and business development will catch up with pre-pandemic spending, with lingering uncertainty about the feasibility of in-person events and travel. In their place, firms are shifting their investments to developing an online brand strategy to capitalize on the booming demand for legal services.

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source: https://www.law.com/americanlawyer/2021/09/29/law-firm-marketing-spend-surged-this-year-but-its-still-below-pre-pandemic-levels/

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