The Rainmaker Blog : Law Firm Marketing and Business Development : The Rainmaker Institute : Stephen Fairley : Professional Legal Marketing

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Columbus Day is a particularly good day to think about new discoveries.  An article in yesterday’s New York Times got me thinking about how many attorneys have discovered new success from specialization.

The Times piece focused on lawyers who specialize in arguing before the Supreme Court.  It’s a good read and you can find it here. 

The article is essentially about attorneys who have carved out a niche (and nice) practice out of arguing cases before the Supreme Court.  Not for the fees – these cases are usually what are called loss leaders – but for the clients it helps bring in and retain.

I know that when the economy is in the dumper, it’s tempting to take on anyone who walks through the door.  But now is exactly the time NOT to do this...to build an area of specialization where you outshine your competitors and are able to build a stable base of clients for now and the future.

Here are the benefits to positioning yourself as a specialist:

• Significantly higher rate of referrals.
• Can charge higher rates.
• More opportunities to offer clients more expensive services.
• Better client retention.
• Not perceived as a commodity.
• Value is based primarily on credibility and expertise.
• Better positioned to get positive media coverage.
• Easier to dominate your niche.

Of course, the niche you choose needs to align with your expertise and there should be a need in the marketplace for those services.  What draws prospective clients to you and your services? Keep track of your inquiries and see if they don’t begin to naturally fall into one or more groups. If they do, you already have a base from which you can start building your niche practice.

Becoming aware of these commonalities is a way to let your niche discover you, which In turn helps you develop your law firm marketing strategy around promoting your area of expertise and specialization.

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