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Determine-Marketing-Spend-Strategic-Plan

Tech Tip #32: To Determine Marketing Spend, Consider Firm’s Strategic Plan

Strategic plans affect nearly every business decision. To determine marketing spend, refer back to your strategic plan. Are you looking to grow or is your firm content at the size it currently is? Those pieces will determine total spend, as 5% of your budget spent on marketing is typically enough to keep business status quo and the phones ringing, while 10% is more typical of firms looking to expand.

Looking for more tips on how to better your firm? Take a look at our webinar, Ask an Expert: Better Business Practices for Lawyers.

CosmoLex Team

CosmoLex is a leading legal practice management solution that is trusted by thousands of law firms across North America. CosmoLex is a single solution that lets solo legal professionals & small law firms manage their practice, billing, AND accounting all in one login, on any device, at any time. CosmoLex users can eliminate the need to maintain multiple programs because CosmoLex does it all -- including time & expense tracking, billing, business accounting, trust (IOLTA) accounting, calendaring, task, email & document management, even secure client communications -- in one web-based application.