Why Niche Marketing Actually Works Best For Lawyers, Even During Economic Downturns

by Eria

If you ever wonder why your law firm marketing efforts are not getting you the results you are looking for, then you might want to check and see if you have focused your attention enough on a particular niche.

One of the problems many lawyers have, which they are not aware of, is that they don’t market to specific industries (or niches within industries). Instead, they market (or at least break down) their services to an area of law such as real estate, corporate law or intellectual property.

While this might bring in some valuable leads, it does not help lawyers maximise the opportunities they could potentially get when contacting and building relationships with prospects. It also makes it really difficult to create a position of authority within the minds of prospects, and you simple end up being one of many good lawyers out there.

It is more comforting to think that by marketing named legal services to everybody, you are guaranteed that more prospects will sign up for your services. The danger here is that instead of that happening, your marketing is simply too generic and similar to what many other lawyers are doing. You simply don’t stand out enough.

Marketing to a specific niche is scary for many within the professional services industry because it implies you are ignoring everyone else. This is wrong.

The reason why lawyers should do more niche marketing is because it is, to be blunt, easier to be a big fish in a small pond as opposed to a big one. By focusing on the specific needs of prospects within a target niche, it is easier to know the conversations going on inside their heads, provide content that lets them make more informed choices about legal services, and understand their specific requirements.

So, here are a few steps lawyers should consider when thinking about niche marketing strategies:

  1. Monitor your target niche and find out the hot topics being discussed, regulatory issues, key company trends and the types of legal services people are actively looking for. You can use feedback forms or online monitoring tools for this;
  2. Is the niche you are targeting big enough, and does it have prospects within it that already pay for the legal services you have on offer? Your hottest prospects are those that are in the game – they already buy legal services but are happy to switch to someone they feel addresses their needs better.
  3. What is the normal decision-making process for these prospects? Where do they look for information, what communities are they members of, and how do they use the Internet/social media to search for lawyers?
  4. Don’t just jump on the content marketing bandwagon and publish articles, blogs, etc however relevant they might be to your target market. First of all, plan your sales funnel so that you know what you will write, when it will be sent out, and the ideal response you want  readers to make after getting certain collateral that matches specific stages of your sales funnel. This is important, otherwise you will simply write loads of stuff, get no actual movement in terms of actions by prospects, and give up complaining about the time you have wasted.
  5. Try to build relationships with key figures such as magazine editors or accountants focused on the same niche. These contacts come in handy. As an example, a joint seminar with accountants for prospects within a target niche allows you to share marketing costs but opens up a channel for referrals you might not have had before.
  6. Combine both offline, online and social media marketing campaigns to point prospects to the information you have available for them. All are useful, and the combination gives you the chance to test what works best in terms of getting prospects moving down your sales funnel.
  7. Measure, measure, measure. This does not mean you simply shout for joy because you have doubled the number of Twitter followers within your target niche. What I mean here is cost per lead, cost per conversion, number of contacts before specific actions are taken by prospects within your target niche.

There is more I could cover, but the 7 steps outlined above should give you some food for thought when thinking about niche marketing.

As I have said before, this is not necessarily new. It just needs to be implemented. Thinking about doing something is not enough if you want to develop a brand that stands out in the crowded legal services market.

By focusing specific marketing campaigns on a particular niche, you can be more punchy and get identified as someone that has the answers people in the niche are looking for. If you want to target other niches, replicate the process above but make your communications specific to the new niche.

As I said earlier, it is easier to be a big fish in a small pond as opposed to big fish in a big one.

You may want to read what I said about this here.

 

 

 

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