If you want to get a job done there are 2 essential things to bear in mind. First, you have to find the right person to put in charge. For every important task somebody’s neck should be on the line (and not buried in the sand) – otherwise it’s pretty certain that nothing much will come of your efforts. And second, you need to commit whatever other resources are necessary (usually meaning budget) in order to get the job done.
A majority of law firms are overlooking both these fundamental points in their content marketing efforts. They are dropping the ball when it comes to both budget and hiring. This is apparent when you make a simple side-by-side comparison of the latest Greentarget Survey of Law Firm Digital and Content Marketing to the 2014 B2B Content Marketing Report issued by MarketingProfs and the Content Marketing Institute.
The findings are pretty striking that law firm efforts fall far short of the national averages for B2B companies in both respects. Just consider the following:
- The average budget allocation to content marketing among all B2B companies was at 33% of the overall marketing budget. In comparison, only 13% of all law firms report that they are spending more than 20% of their total marketing budget on content marketing and 41% of law firms spend 10% or less of their budget. Although Greentarget doesn’t report the data in a way directly comparable the general survey, it looks like law firms are spending on average about 11.3% of overall marketing budget on content marketing.
- 58% of all B2B companies surveyed reported that they intended to increase budget allocation to content marketing in the current year whereas only 39% of law firms indicated a similar intent.
- 73% of all B2B firms surveyed said they have appointed a single person as manager of the content marketing efforts whereas only 29% of the law firms participating in the Greentarget survey have taken this step.
There is a simple way to summarize our analysis of the data in plain English. No budget. No boss. No effective content. It’s time for law firms to get their head out of the sand. It’s time to revisit the budget allocations and hiring plans if you are serious about ways to improve law firm content marketing.