Small law firms: The current state of marketing and areas of opportunity

For many small law firms, 2023 signaled a year of positive changes. Lawyers surveyed in Thomson Reuters’ annual U.S. State of Small Law Firms Report expressed an eagerness to continue making strides and increasing efficiencies, particularly by enhancing their marketing and business development strategies.  

Here are four key takeaways from the report that illustrate the current state of marketing at small law firms — and the potential marketing holds as a key driver of business development and growth.

Think about your firm’s current marketing strategy. What’s working and where is there room for improvement? When it comes to marketing, it’s important to define and track success metrics and make adjustments along the way.

Small law firms consider marketing a must-have 

93% of surveyed firms report that they are currently doing some sort of marketing or advertising, nearly a 10% increase from just two years ago. As firms evaluate their marketing strategies, it’s important to track success metrics and make adjustments along the way.

Small law firms are investing more in marketing  

Though it takes time for marketing tactics like SEO, blogging, and social media to build momentum, firms are likely to increase their marketing spend once they see rewards.

Small law firms are leveraging marketing to drive business development  

Two years ago, 35% of small law firms spent less than $2,500 annually on marketing and advertising. That number shrank to just 27% in 2023, showing that more and more small law firms are seeing the benefits marketing affords in acquiring new business.  

Small law firms are leaving a lot on the table when it comes to marketing’s potential   

Less than 38% of firms use tried-and-true online marketing tactics that help increase online visibility, strengthen their digital brand, and connect with legal consumers in need. These can be highly effective business development drivers when part of a comprehensive online marketing strategy.

Learn more about the changes, challenges, and opportunities small law firms face by downloading the resources below.