Transcript Creative Strategies for Better Managing Limited Marketing Resources

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
Presentation Outline
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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
Overview of Our Law Firms
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
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!
Advantages of a Non-Mega Firm
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!
Advantages of a Small Firm
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
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!
Creatively Managing a Budget
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.
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.
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!
Creative and Low Cost
Marketing Ideas
Creative and Low Cost Marketing Ideas
• Maximize Technology!
– Free online social networks
– Email campaigns
– Blogs
– Webinars
Creative and Low Cost Marketing Ideas
• Internal Training for Lawyers
– Cross marketing opportunities
– Business development
– Practice development
– Relationship selling
– Client services
– PR training
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
The Value of a Small Marketing
Department
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
Creative Strategies for Better
Managing Limited Marketing
Resources
Jody E. Maier
Chief Marketing Officer and Managing Director, Kramer Levin
Naftalis & Frankel LLP
[email protected]
Annie Lombroia
Chief Results Officer, Stanislaw Ashbaugh
[email protected]