Claimant personal injury lawyers spent £208,000 per day last year on advertising, according to research carried out by marketing collective First4Lawyers.
The research which analysed about 500 law firms and claims management companies between 2010 and 2014, revealed a sharp rise in spend from £27m in 2010 to £76m in 2014. It found the main driver was the referral fee ban in 2013 which closed traditional referral networks.
Unsurprisingly, a small number of organisations dominate the market in terms of money spent. As for which marketing methods work best, the research found: “TV is currently providing some of its best ever efficiencies and return on investment.
“Digital marketing, by contrast, offers instant response and the flexibility to change campaigns with more agility depending on market conditions. We cannot use one without the other.”
