Marketing Mailbag : Bothwell Marketing, Inc.

LEADER OF THE PACK: Finding Niche Is Key to Success

published in the Daily Journal

Dear Generalist:
The American Bar Association counted 1 million licensed attorneys in the United States at the end of 1998. A huge proportion of those consider themselves generalists. It only makes sense that the best way to stand out is to be a specialist.

In deciding what to specialize in, look at the clients and industries your firm services. Ask yourself what you would most like to spend your time doing or what interests you. If you are attracted to a niche, start to learn more about the issues and problems unique to that area.

Don't overlook areas into which your firm has not yet ventured. While the firm may not be able to support a niche that is far afield from its clients, these clients may have ancillary needs that the firm could handle. Ask lawyers in your firm which types of matters they refer to specialists - these matters could provide a lucrative niche. Informally survey clients to see if they are sending matters to specialists rather than to your firm.

Consider the growth of this particular niche for the next five or ten years as firms can't afford to change the focus of their practices often. Talk to experts in the field, local business editors and potential clients in this niche to determine the long-range viability of the niche practice.

The next best thing may be the Internet. By tracking broad social trends, you may discover under-served areas of the law. For example, the fact that over the next decade, the aging baby boomer generation will inherit around $5 trillion might lead you to specialize in a practice that assists these clients with trusts, philanthropic donations or minimizing the effect of taxes.

The more specialized your niche, the easier and more effective your marketing will be. As you become familiar with the needs of this special client group, you will discover the best ways to communicate your expertise. Do your potential clients glean information from small-circulation trade newsletters or monthly meetings of special-interest groups? You can write an article or speak on a topic that will target a specific concern. Remember that positions within corporations are becoming more niche-oriented. This corporate specialization, while making it more difficult to locate the person who requires your services, assures that your marketing efforts will reach the decision makers. Subscribe to trade publications and join an organization where you can network and learn more about the people and issues in the area. These organizations also provide opportunities to speak. Conducting research and drafting an article for a trade journal is a great first step to becoming an expert.

Become knowledgeable about the niche before you ask your firm to support membership in an organization or continuing education in the field. Firms are usually willing to support the efforts of lawyers who have already demonstrated a willingness to make efforts on their own.

Ask other members of the firm, including partners, if they are interested in this area. It will be easier to develop the niche if a group of attorneys is willing to tackle it. Also, firm management will want a partner to supervise the practice area, so bring a partner on board in the beginning.

One particular senior associate, surrounded by senior partners with more contacts, clients and experience in the medical malpractice defense field than he could match, wondered how he could bring in his own clients and accelerate his chances of making partner. He discovered that elder care issues were emerging as a niche area and existing clients were paying more attention to the issues surrounding aging. He researched the cases and after publishing an article on the subject he did his own internal marketing to advise partners of his emerging expertise. He advised clients of the new capability he and the firm now offered. He was therefore able to generate new business.