Top law firms grew by leaps and bounds in 2006. But one expense reportedly rose about 30 percent from the previous year, far outstripping growth in either profits or revenues: marketing.
Am Law 100 firms budgeted an average of $9 million — or 2.2 percent of their gross revenue — for marketing last year, according to a new survey by Boston-based BTI Consulting Group that polled about 60 percent of Am Law firms.
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