The numbers just don’t add up. How can a solo attorney or a small firm really believe that they can compete with the big law firms and their big advertising budgets and in-house marketing departments?
Along time ago I was meeting with a yellow pages saleswoman (this alone should tell you how old this story is) and we were discussing this very topic – competing as a solo bankruptcy attorney against the large local law firm that filed by far the most bankruptcy cases.
The salesperson told me that the big firm’s marketing budget was over $12 million per year – spending on average more than $1 million per month on billboards, yellow pages, bus advertising, Phoenix Suns basketball sponsorship, and the list went on and on.
And there I was choking as I was told it would cost $4,000 per month for a one page ad in the yellow pages.
The question bears repeating, can the small firms even hope to compete with the larger law firms when it comes to attracting clients.
The answer is yes, you can compete, but it will take some work and altering the way you view what you have to offer as compared to your larger well-financed competition.