If you are creating a marketing budget for your bankruptcy law practice make sure you read these 4 things NOT to do. Setting money aside for marketing is the easy part. Deciding where to spend that money is where some companies make big mistakes. Whether you are handling your own marketing or you've hired a local internet marketing services company, make sure you avoid these 4 marketing budget mistakes.

1. Grow Your Bankruptcy
Practice: Start Creating A
Marketing Budget

2. Grow Your Bankruptcy Practice
Do you want to grow your bankruptcy practice?
Creating a marketing budget is a good first step to initiating growth.
However, carving out a budget does not mean that anything you spend
this budget on is going to guarantee you growth for your bankruptcy
practice.
In fact, there are a lot of decisions you can make that would waste your
marketing budget.
If you are interested in growing your bankruptcy practice, here are 4
things NOT to do with your marketing budget.

3. 1. Don’t assign an arbitrary number to
marketing.
When creating a marketing budget you need to consider the value of a
new customer. Calculate your cost per acquisition and use this amount
to determine how much you are willing to spend to get a new
customer.
In the consumer bankruptcy legal industry it is important to understand
that you will probably need to spend at least $100 to obtain a new
customer in a competitive market.
Local marketing professionals can help you find out what your
competitors are spending to acquire new customers and help you
create a plan to achieve the growth you are working towards.

4. 2. Focus on building brand awareness
Branding ads are very popular with big name businesses. They have the
kind of budget that allows them to spend money making sure they are
a household name. For a local business this is not a realistic approach.
Local bankruptcy legal services help customers solve big problems.
If you want a potential customer to click on your ad you have to give
them a reason to.

5. 3. Spend big money in Yellow Pages ads
Yellow Pages ads can work well for some companies. However it’s
important to understand their limitations. These ads are pricey and
require a lot of specific details in order to be successful.
If your budget allows for it, invest in a small Yellow Pages ad but if you
have a small budget you need to be more thoughtful about where you
invest your money.

6. 4. Don’t expect your marketing efforts to
do all the work
It’s true that creating a marketing budget is going to help you grow your
business but there is no better tool for business growth than getting out in
your local community and meeting people.
Attending local events and joining the chamber of commerce is a great place
to start. Building relationships in your community will increase referrals and
also grow awareness of your local bankruptcy law firm
This is why so many bankruptcy practices make the decision to hire a
professional team that provides local internet marketing services to handle
their marketing efforts.
You can’t do it all so know your limits and bring in the professionals if it will
help you get out and meet people and utilize other tactics to grow your
business.

7. What now?
While creating your marketing budget think long and hard about who
you want to reach and what the best avenues are to do so.
It is possible to tackle some online marketing initiatives yourself while
running a bankruptcy law practice but sometimes it just makes more
sense to reduce stress and call in the professionals.
Sign up for our exclusive webinar: 5 Reasons Why Your Bankruptcy
Practice Is Not Growing.
This valuable webinar will help you understand why your bankruptcy
practice isn’t growing and what you can do about it.