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Creative Strategies for Better Managing Limited Marketing Resources

Jody E. Maier Chief Marketing Officer and Managing Director, Kramer Levin Naftalis & Frankel LLP Annie Lombroia Chief Results Officer, Stanislaw Ashbaugh. Creative Strategies for Better Managing Limited Marketing Resources. Presentation Outline. Overview of Our Law Firms

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Creative Strategies for Better Managing Limited Marketing Resources

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  1. Jody E. Maier Chief Marketing Officer and Managing Director, Kramer Levin Naftalis & Frankel LLP Annie Lombroia Chief Results Officer, Stanislaw Ashbaugh Creative Strategies for Better Managing Limited Marketing Resources

  2. Presentation Outline • Overview of Our Law Firms • Advantages of a Non-Mega Firm • Advantages of a Small Firm • Creatively Managing a Budget • Creative and Low Cost Marketing Ideas • The Value of a Small Marketing Department

  3. Overview of Our Law Firms

  4. Overview of Our Law Firms • Kramer Levin Naftalis & Frankel LLP • 375 Lawyers • Two Offices: New York and Paris • 20+ Practice Groups • New York Firm with National & International Clients in Variety of Industries • Mid-Market Focus • Marketing Department: Four Marketing Professionals and Two Graphics Specialists

  5. Overview of Our Law Firms • Stanislaw Ashbaugh • 19 Lawyers • One Office - Seattle • 4 Primary Practice Groups: • Commercial Litigation, Construction Law, Corporate/Securities & Insurance Recovery • Regional Firm with Local & National Clients • Marketing Department: 1!

  6. Advantages of a Non-Mega Firm

  7. Advantages of a Non-Mega Firm • Can offer alternative billing strategies • Ability to staff cases leanly • Everyone in one office and can immediately capitalize on wealth of knowledge • Internet/technology makes every firm available and what it needs to be • No need to be in every city in order to compete!

  8. Advantages of a Small Firm

  9. Advantages of a Small Firm • More value (price and specialty) of hourly rates compared to big full service firms • All lawyers (and most staff) know clients and their businesses • Lawyers can’t just hide behind “great legal work” and high billable hours. They must market to succeed in firm! • Ability to brand firm as thought leader in focused client industries

  10. Advantages of a Small Firm • Ability to act as “concierge” of legal and business services to clients • When all employees of firm know one another it creates a stronger team, longevity and low turnover among employees, which then increases productivity and value to the client. • Opportunity for Marketing to be a sales leader and go originate!

  11. Creatively Managing a Budget

  12. Creatively Managing a Budget • We all have big and small chunks within budgets.  You should feel liberated to move things around that make sense and perhaps put something off for the next quarter or year. • Work with other departments (recruiting, professional development, diversity, HR, library). You may find other areas to help bury some of the overall cost so doesn't hit your budget alone.  Share the responsibility.

  13. Creatively Managing a Budget • Make sure all marketing expenses above a certain denomination are pre-approved. Track the ROI of the “Big Spenders.” • Personally sign-off on all marketing invoices from vendors, consultants, sponsorships, etc. • Economy allows us to push-back on some requests and say “no” to low-value ROI activities.

  14. Creatively Managing a Budget • Shop wisely when hiring vendors and consultants. Sometimes the best and most valuable are not your typical “law firm” providers. • Have a clear vision of what you want your major creative projects to look like. By acting as Art/Creative Director, you can save a lot of time & money!

  15. Creative and Low Cost Marketing Ideas

  16. Creative and Low Cost Marketing Ideas • Maximize Technology! • Free online social networks • Email campaigns • Blogs • Webinars

  17. Creative and Low Cost Marketing Ideas • Internal Training for Lawyers • Cross marketing opportunities • Business development • Practice development • Relationship selling • Client services • PR training

  18. Creative and Low Cost Marketing Ideas • Do your own PR! • Include social media avenues • News Media Yellow Book • Trade Association Involvement • Committees • Speaking opportunities • Legislative opportunities

  19. The Value of a Small Marketing Department

  20. The Value of a Small Marketing Department • The “Right Hand” knows what the “Left Hand” is Doing • More control of budgets • Individuals of marketing team are more of a value to firm • More energetic, fast paced work environment

  21. Jody E. Maier Chief Marketing Officer and Managing Director, Kramer Levin Naftalis & Frankel LLP jmaier@kramerlevin.com Annie Lombroia Chief Results Officer, Stanislaw Ashbaugh ALombroia@lawasresults.com Creative Strategies for Better Managing Limited Marketing Resources

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