Amid the merger and acquisition mania, small and midsize law firms are struggling to maintain both their identity and their earnings. One way to do this is by mastering strategic niche marketing. Whether your firm is considering a merger or working to maintain the status quo, penetrating a viable niche market with a long-term, dedicated marketing campaign can make the difference between sustained growth and dissolution.
Legal professionals have various notions of what niche marketing is. In marketing lingo, it is an approach designed for a specific niche where the firm can leverage its strengths in order to increase penetration. Niche marketing is based on a written plan with a fine-tuned marketing message to a well-defined list of contacts within the niche. The plan includes an integrated marketing campaign that encompasses channel marketing, public relations, advertising, and communications planning.
