How to Select a Niche Market

• Author: David V. Lorenzo
• Pages: 43-45

How to Select a Niche Market §23.

43

§23.

HOW TO SELECT A NICHE MARKET

Much of my work focuses on helping lawyers position themselves. Our goal is to make them

stand out from the crowd. This is no easy task as lawyers do everything possible to look, sound

and act just like other lawyers.

I want lawyers to be perceived by their clients as experts in a specific, focused area of law.

This is a powerful and highly effective strategy for those who choose to employ it.

Why is this so effective?

Well, for too many reasons to enumerate but it starts with the fact that an expert can always

command a fee premium and an expert is always in demand. Think about the Heart Surgeon at The

Cleveland Clinic and your Family Doctor. Who makes more money? Who is in such demand that

people from all over the world fly in to see him for his opinion?

Quite frankly, I do not want to sell you too hard on this strategy because it is a huge competitive

advantage for the lawyers I work with. But I am willing to give you a step-by-step process you can

use to develop your own specialized, niche market focused, law firm marketing plan.

These six factors are the keys to developing a law firm that will allow you to call the shots.

If you get these things correct, you can effectively set your fees at will and select your clients as

you see fit.

Factor 1: Who You Work With

Marketing to everyone is the kiss of death for a lawyer. Marketing to everyone in a specific,

focused area of practice is slow but still certain death. Marketing to everyone in very specific,

focused aspect of the law in a specific focused practice area is the key to success.

Example One:

Criminal Defense Attorney—Not specific enough

Criminal Defense Attorney with Expertise in Handling DUI Cases—Better

Criminal Defense Attorney with Expertise in Handling DUI Cases and a History of Getting

Great Results for Repeat Offenders—Best

Example Two:

Intellectual Property Attorney—Not specific enough

Intellectual Property Attorney Focused on Licensing of Business Methods—Better