Credit: png-jpeg-vector/Adobe Stock Generative AI and Reducing the Costs of RFPs on Marketing Teams
Firms are currently spending a majority of the RFP response time on activities that don't directly correlate to increasing win rates.
March 25, 2024 at 09:29 AM
7 minute read
Everyone knows that requests for proposals put a lot of pressure on law firm marketing departments, but just how much can be surprising when you start putting numbers to it. On average, firms spend about 46 hours on any particular RFP or 4,738 hours per year and it is costing the firm about $959,141.34 annually—but these numbers often swell on the higher end to over 100 hours on an RFP or $2 million annually.
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