03 Jul How Much Should a Lawyer Spend on Internet Marketing?
It seems you can find a wealth of information on how you should be marketing and why you should be marketing, but it’s almost impossible to find a good answer to the question: How Much Should a Lawyer Spend on Internet Marketing?
After tireless research, I believe that I have finally made heads and tails of the data to provide you with a formula that you should use when trying to calculate how much should a lawyer spend on internet marketing. The following is a suggestion of the percentage of your practice’s gross revenue that should be allocated to internet marketing.
2.5% – 5%
Successful lawyers and law firms who already have a fully functioning website and an internet marketing plan and strategy implemented and running. They should already have first page top rankings on all relevant search engines.
5% – 7.5%
Lawyers and law firms that are established with a fully functioning website, but may need SEO optimization and a marketing strategy to continue to grow their business and reach more clients. They should also already have first page ranking on all relevant search engines but have room to grow.
7.5% – 10%
Lawyers and law firms that are established with a website but may need additional website optimization for functionality and SEO optimization to reach first page rankings on all relevant search engines.
10% – 15%
Lawyers and law firms that are in need of an updated website, a marketing strategy, SEO optimization, Social Media implementation and local marketing SEO. Building the foundation for your internet marketing can be rather expensive, but it is a wise investment into your future marketing strategy.
Time is Money and Should be Considered When Calculating How Much Should a Lawyer Spend on Internet Marketing
Most savvy young professionals believe that it would be wise for them to learn the tricks of the SEO trade and ultimately save themselves money on marketing. Nothing could be further from the truth. An attorney’s average billable hour is almost three times the average of a marketing company’s. Hiring a professional legal marketing company can actually save not only time, but money. Consider the average hourly billing rate of $445 for a partner of a small law firm in America. Factor in that it will take twice the time to research and complete a marketing task as a professional. Take into account that the average hourly billing rate of a marketing company is $150 per hour. Finally, let’s use 20 hours for one hour of marketing per business day of the month for a professional or 40 if done on your own.
$17,800(445×40) – $3,000(20×150) = $14,800 of potential savings per month by hiring a professional company
How should your internet marketing budget be spent?
Now that you have done the math and settled on the amount that should be allocated towards your internet marketing budget, let’s talk about how that budget should be broken down. There are several components that make up the perfect recipe to a successful internet marketing strategy. Some of these components require more time and should be given a larger portion of the budget.
Content Marketing: Content Marketing for Lawyers keeps your website and web presence alive. Constant content marketing tells the search engines that the information you have published is up-to-date and relevant. Content marketing for lawyers is a balance of many outlets such as blogging, writing of engaging statuses on social media, and promotion of videos and images connecting your professional image with your legal expertise.
Social Media Marketing: Social Media Marketing is a daunting task that takes diligence and discipline to perform on a routine basis so as to maximize its benefits. When properly implemented, social media can help you connect and stay connected with past, present and future clients. It allows your clients and colleagues to rate you, building a stronger reputation and professional stance. It also guides traffic to your website which helps strengthen your organic search engine rankings.
Search Engine Optimization: Search Engine Optimization is the practice of improving and promoting a website to increase the number of visitors the site receives from search engines. To achieve the best organic search presence, you must adjust and modify elements of your website such as keyword phrases, content, linking, indexing, site speed, and mobile responsiveness.
Website Maintenance: Website maintenance for lawyers should be scheduled on a routine basis to review and make sure that all components are running smoothly. Website maintenance for lawyers should include among other things website performance, keyword research, backlink checks, and an audit for errors. The more consistent you are with your website maintenance, the more proactive you can be in continuously pushing your website’s organic search engine rankings.
Keyword Development: Keywords play a vital role in search engine optimization (SEO). As part of a marketing strategy, you should maintain an active list of keywords for your website. This list should be a continually evolving set of important, relevant keywords. These keywords should be utilized in content marketing.
Paid Search Marketing: Paid search marketing such as Google Adwords generate immediate leads to your website. They should be used as a buffer while you are building your organic search engine presence.
Now that you know How Much Should a Lawyer Spend on Internet Marketing, include it into your yearly budget.
Knowing how much you should spend yearly on internet marketing, you may be pleasantly surprised to find out that it is affordable to hire a professional company to handle your internet marketing. At PRIME Legal SEO, we are legal professionals who understand and have perfected the marketing strategy it takes to connect lawyers and law firms with their targeted clients. Contact us today for a free initial website analysis.