EOFY: How to Set Your Marketing Budget for the Next Financial Year
EOFY always feels like a reset.
You review the numbers. You look at what worked. You think about where you want to go next. And then marketing comes up: “How much should we actually be spending?”
Most law firms either guess, underinvest, or throw money at random tactics throughout the year and hope something sticks. That’s why marketing often feels inconsistent. Because it hasn’t been planned properly from the start.
A strong marketing budget is not just about how much you spend. It’s about how intentionally you invest in it. If you get this right at EOFY, you set your firm up for a completely different kind of year. One with more clarity, more consistency, and far better results.
Step 1: Audit Last Year’s Marketing (What Actually Worked?)
Before you plan forward, you need to look back. Not at what you did, but at what actually worked. Most firms say things like, “We did some SEO, posted on social, tried a few as.” That’s not an audit. That’s a list.
A proper audit asks:
Where did our enquiries actually come from?
Which channels brought in the best clients?
What converted well versus what just looked good?
What did we spend versus what did we get back?
This is where most of the clarity comes from. Because usually, a small number of activities drive the majority of results, and a large portion of your effort delivers very little.
Case Study
A law firm we worked with believed their social media was driving enquiries because they were posting consistently. When we audited their marketing, we found that over 70% of their enquiries were actually coming from organic search and referrals. Social media was adding visibility, but not driving real leads.
Once we had that clarity, we reallocated budget and effort into what was actually working.
The result was a significant increase in qualified enquiries without increasing overall spend.
Step 2: Apply the “Better, More, New” Framework
This is where most firms overcomplicate things. You don’t need a completely new strategy every year. You need to refine what you already know works.
We use a simple framework: Better. More. New.
Better means improving what already works. That could be optimising your website, improving conversion rates, refining your messaging, or making your content clearer and more aligned.
More means doubling down on the channels that are already delivering results. If SEO is working, invest more into it. If referrals are strong, build systems to support them.
New means testing carefully. Not chasing every trend, but selectively introducing new channels or strategies that align with your growth goals.
Most firms jump straight to “new.” The firms that grow focus on “better” and “more” first.
Step 3: Build Your Marketing Plan Before Setting the Budget
This is where a lot of law firms get it backwards. They decide on a budget first, then try to fit marketing into it.
Instead, your plan should dictate your budget.
Your marketing plan should clearly outline:
Who you are targeting
What you want to be known for
Which channels you will use
What content or campaigns you will run
What your lead generation system looks like
Once that is clear, your budget becomes far easier to define. Because you are funding a plan, not guessing numbers.
Step 4: Set Your Budget Based on Growth Ambition
Your marketing budget should reflect how aggressively you want to grow. Not what feels comfortable.
As a general guide for law firms:
Maintain / steady growth: 3–5% of revenue
Growth phase: 5–10% of revenue
Aggressive growth / scaling: 10–15%+ of revenue
But percentages alone are not enough.
You also need to consider:
Your Practice Area: Some areas are more competitive than others. Family law, personal injury, and property law often require stronger visibility and higher investment compared to niche or referral heavy practices.
Your Market Competition: If your competitors are investing heavily in SEO, ads, and content, your budget needs to reflect that reality.
Your Current Position: If you are starting from low visibility, you may need to invest more upfront to build momentum.
Reality Check: If your goal is to grow significantly, but your budget stays minimal, there will be a gap.
Growth requires investment.
Step 5: Allocate Your Budget Strategically
Once you know how much you are investing, you need to decide where it goes.
A well balanced law firm marketing budget typically includes:
Website and conversion optimisation
SEO and content marketing
Paid advertising (if relevant)
Branding and visual assets
Email marketing and nurturing
External visibility (PR, features, partnerships)
The key is alignment. Every dollar should support your overall strategy, not sit in isolation.
Where Most Law Firms Stop (And Why That’s the Problem)
This is where most firms fall short: They do the audit. They create a plan. They set a budget.
And then… Nothing happens. Because planning is not the problem. Execution is.
Marketing is one of those areas that gets pushed aside when things get busy. Without accountability, even the best plan will sit untouched.
Why Accountability Changes Everything
The firms that see real results are not necessarily the ones with the biggest budgets. They are the ones who consistently execute. They review. They refine. They keep going. That is where having the right support makes a difference.
At Zenovate, we do not just help you audit your marketing or build a plan. We help you implement it. We act as your strategic partner and accountability layer so your marketing actually happens, not just gets planned.
Key Takeaways
EOFY is the best time to reset and plan your marketing properly
Start with an audit to understand what actually worked
Focus on better and more before chasing new strategies
Build your marketing plan before setting your budget
Align your budget with your growth goals and market competitiveness
Execution and accountability are what drive real results
If you are heading into the new financial year without a clear marketing plan or budget, now is the time to fix that. At Zenovate Marketing, we help law firm owners audit their current marketing, build structured growth plans, and stay accountable so the strategy actually gets implemented.
Written By Kristen Porter
Kristen Porter is an award-winning lawyer, marketing and legal strategist, licensed real estate agent, and the founder of Zenovate Marketing and highly niched law firm O*NO Legal – The Real Estate Agent’s Lawyer. With degrees in both Law and Commerce (majoring in Marketing), Kristen brings a rare combination of over 20 years legal expertise and business acumen to her work with professional service firms.
Kristen has built and scaled multiple businesses at a national level and developed a marketing framework that she now uses to help law firm owners grow profitably without relying on cold outreach or tactics that don’t feel aligned. Her approach blends strategic positioning, lead generation, and sustainable marketing systems to create brands that stand out, attract the right clients, and grow effortlessly.
Frequently Asked Questions (FAQ’s)
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Most law firms invest between 3% and 10% of revenue, depending on their growth goals and level of competition.
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A combination of SEO, content marketing, and AI visibility, supported by strong positioning and conversion-focused systems.
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Not necessarily, but your budget should evolve based on your growth goals and what is delivering results.
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Setting a budget without a clear strategy and failing to execute consistently.
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Most firms benefit from external support or accountability to ensure their marketing plan is implemented effectively.
DISCLAIMER: This article is general information only and cannot be regarded as legal, financial or accounting advice as it does not take into account your personal circumstances. For tailored advice, please contact us. PS - congratulations if you have read this far, you must love legal disclaimers or are a sucker for punishment.