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As if defending a marketing budget within the law firm was not already hard enough, now CMOs are doing it within a time of unprecedented uncertainty. How do you move forward with putting together a marketing budget — and defending it — in the current environment? It certainly will not be easy, but there are steps that you, as the head of marketing and business development, can take to answer the challenges of the triple whammy of the pandemic, recession, and financial uncertainty.
1. Align with Strategic Firm Priorities
Your firm may have realigned its strategy in light of the challenges this year. For example, if your firm focuses heavily on the retail and technology sectors, you may be deciding to go all-in with tech in 2020. How do you realign your budget to reflect that? Or you may have already conducted either a management consultant review or internal review that sets out your firm’s strategic priorities, and you already have a blueprint that will underpin your marketing investments.