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November 21, 2008

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Mere

This shows the trends, but are they the most effective methods right now?

Joshua Fruchter

Meredith - the trends demonstrate that marketers BELIEVE that these methods - i.e., email marketing and social networking - are the most effective marketing methods in a downturn, and that is why they are investing more marketing dollars in them. Whether these beliefs are correct (and whether they are correct for B2B-focused law firms) is a separate issue. But my personal feeling is they are correct and the research is relevant to B2B law firms because the ROI on email marketing can be so high. Consider, for say $2500/year for standard core email marketing features (e.g., segmentation, tracking), a law firm can potentially bag tens, if not hundreds, of thousands of dollars in new business by making correct use of the metrics that help identify what clients are interested in what issues. Similarly, with social networking, while the metrics are less precise, a meaningful investment of time can yield excellent results in the areas of "buzz," thought leadership and search engine visibility. Happy to discuss further if you are interested.

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