“Draconian” ideology is no fix for legal marketers

The Chief Executive of WPP, the world’s largest advertising holding company and now 4th largest research firm, (coming in behind only Thomson-Reuters, Bloomberg and Nielson), has taken a strong interest in the cost cutting by large marketers across the globe.

AdAge covered a recent Ad-Tech conference in New York, Martin Sorrell warned about the long term results of today’s “draconian cuts” in marketing budgets.

Some of Mr. Sorrell’s key points:

After 33- years in business, he has never known clients to be focused on cost as they are now. Very few people are increasing revenues except for the Apples and Googles of the world, the rest are lowering costs.
Other companies, like accounting and consulting firms, invest in their brands at times like these. You will come up on top as we come out of the recession if you invest.
Most companies say they maintain their standards, but that cant be true because markets are down 23%

Personally, here’s my list of “marketing expense enhancements” over the last 2-months:

I hired a terrific web technician to redesign my blog and re-gained focus on my marketing efforts — with social at the core of course!
I bought in an MBA consultant to re-work my now 3-year old, antiquated business plan
Continue to work with a business coach
Re-established my memberships and involvement in The Legal Marketing Association, Public Relations Society of America, and NY Women in Communications, the organizations that support my efforts
Re-created the importance of healthy food and exercise for myself
Enhanced my wardrobe
Changed my hair-do

I look forward to hearing what you and your firms are up to.

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