Statistics from 2012 show that nearly there are nearly twice as many attorneys graduating from law school as there are new positions. That's a competitive legal market, and responding to it requires learning what is niche marketing. Whether you're just looking for a niche marketing definition or you really want to know how to use niche marketing for your law firm, keep reading this guide to find out more.
What is Niche Marketing: a Niche Marketing Definition
When you're first beginning to learn about niche marketing, it's good to start with a basic niche marketing definition. So, what is niche marketing? In brief, niche marketing just describes a business that is narrowing down its focus in order to stand out more from a marketing perspective.
Niche marketing has become a huge factor for businesses in the age of web marketing. While many businesses never really thought about what is niche marketing before, today the niche marketing definition is of great interest to tens of thousands of marketing professionals.
Narrow, Double Narrow, and Triple Narrow Niche Marketing Definition
For law firms, “what is niche marketing” is a question you need to be asking now. The niche marketing definition has become of critical importance to attorneys in a pressed job market, and in order to have a sufficiently narrow niche marketing effort, you'll probably need to do some brainstorming.
Let's say that you've started as a criminal defense firm. What is niche marketing going to look like for you? Well, criminal defense is already a “single narrow” niche. That means that it's narrower than a “general practice,” in which just attorneys will serve clients with just about any legal need at all.
The double narrow niche marketing definition is when a niche market has been made, well…”niche-ier.” For example, let's say you took the same criminal defense practice and decided to make it double narrow. According to this niche marketing definition, a double narrow practice would be a criminal defense practice that only took DUI cases.
Some attorneys, especially those in small to mid sized cities or rural areas, can stop there. But if you're in a big city, what is niche marketing but a way to set yourself apart from the competition? You may already have competitors in your double narrow field, so try narrowing your niche marketing definition even further. Now you can be a DUI defense law firm that specializes in handling cases for Spanish speaking clients.
What is Niche Marketing Doing for Law Firms?
Understanding the niche marketing definition and how to apply it to your own firm can be a lifesaver in today's economic climate. Niche marketing is especially important if you're planning to start a new firm or have recently begun a new firm and don't yet have a great deal of name recognition or an existing client base.
By understanding what is niche marketing, you get a head start on your competition whenever you advertise on the web. The majority of the research people do for attorneys today is through search engines. By applying the niche marketing definition, your website will become narrower and more likely to attract clients who are searching the web the way real clients search—with long keywords including a location and a specialty practice area.
Making Niche Marketing Work For You
Some attorneys are concerned when they hear the niche marketing definition, because they are worried about putting all their proverbial eggs in one basket. While it's true that overspecialization can cause a niche marketing effort to backfire, nothing about the niche marketing definition says that you're required to have just one niche.
Try having several niches, which may or may not have significant overlap. This way, even if one of the niche marketing areas you chose isn't a sustainable practice area, your firm can still thrive as long as the other niches are going strong.
You may want to avoid niche marketing if your advertising and marketing strategies are primarily based in the offline world, unless your niche marketing strategy is very specifically geared to attract people in your immediate area.
Expanding Your Niche Marketing
Maybe you've already known what is niche marketing for a long time, and have even successfully inserted yourself into a local niche. That's great, but what's wonderful about niche marketing online is that you can actually expand these marketing efforts.
No matter what kind of niches you already have, software exists that can help you find new, similar niches. Each of these niches can be developed into sections of your website, or even fully separate websites, that are search engine optimized to drive traffic to your website.
When you've begun to expand the niche markets you're working with, you'll want to keep track of which ones are generating more client conversions. This helps you plan further niche marketing efforts and get rid of the campaigns that are persistently less successful than you had hoped.
What is Niche Marketing for the Future?
Niche marketing trends today include developing niches that take into account the current demographics of the United States. For example, with a large number of people born during the Baby Boom beginning to retire, attorneys who are learning what is niche marketing may want to begin catering to that demographic.
Another niche marketing trend is marketing toward the increasingly mobile consumer. In addition to making your website friendly for search engines, you need to have niche marketing landing pages that are easily viewable by mobile consumers. You'll also want to think about mobile advertising options for your website.
You'll also want to look at hyperlocal niche marketing. What is niche marketing at the hyperlocal level? Well, advertising specifically to people who live in very small towns or suburbs that are often overlooked by the large firms can be a great way to do niche marketing online. This can be a great way to pick up a new client base without even having to slightly alter the kind of law you're practicing.