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Everyone has heard the dueling economists debating whether we're headed for a recession, or whether the Fed's rate hikes will avert a recession, or whether we've already been in a recession for months. Does it really matter what it's called when business slows down or clients cut back on new legal work?
Whatever term the economists use to describe the slowing pace of commerce, the real question is: how do you protect your law firm's revenue stream when economic pressures are causing current and prospective clients to tighten their budgets?
Just as your firm's team of attorneys would design a strategy to best represent a client's interests, your firm needs to implement an appropriate marketing strategy to adapt to the changing economic conditions.
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