Law firms currently spend 2.6% of firm revenue on marketing and business development.* This is less than half of what other large B2B professional service firms spend: 5.6%. More importantly—in 2005 law firms allocated 2.3% of revenue. In effect, marketing and business development is no more of a priority today than it was 10 years ago. Yes—the absolute dollars have gone up—but proportionally it is virtually identical to 2005.
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