Planning to Cut Down Budgets for Branding & Marketing Initiatives?
As law firms deliberate upon several options in terms of pay-cuts, layoffs and furloughs, cut-down on other expenses is also inevitable. However before you decide to cut down on expenses towards branding initiatives, understand why this may not be the best option. Most of us believe that branding, profiling and establishing market presence are activities that must be done when the economy is on a high and there is an upward trend in the growth of commercial activities. However, I am of the view that these activities assume far greater importance in times when economic activity is witnessing a slump. If a firm decides to withdraw from these initiatives during the time when economic activity is already on the slump, there is a great likelihood that as the firm begins to be out of sight of the existing and potential clients, it also goes out of mind. Maintain Your Presence If your existing or prospective clients notice a silence on your part, they may start to forg...