Law Firm Marketing: Which Market Should You Target?
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As a general rule, a small law practice will have great difficulty successfully targeting more than two to three different markets at the same time. It is much better to focus 60-70% of your time on one market, 20-30% on your secondary market, and whatever time you have left that cannot be put to better use on the first two markets, spent targeting a third market.
When trying to identify the target market that’s a proper fit for your practice, look at three areas:
Level of Interest. Energy, enthusiasm and passion are contagious. You must be able to consistently display all three when talking to or about your target market. If you are not truly interested in a particular population, you will not be successful in convincing them to hire your legal services.
Personal and Professional Experience. You will find it much easier to attract clients and consumers with whom you have something in common—work experience in a specific industry, holding a certain position in a company, being in a particular life stage, or living a particular lifestyle. Think about all of the life experiences you have had and find ways to capitalize on them. People are attracted to others with whom they have things in common and to others who project the life they want to live. Do not believe the myth that you can be all things to all people. You will only succeed in confusing your true target market. You will build your law practice faster if you focus on the practice areas that pertain to your core legal expertise.
Geographic Location. The overwhelming majority of small law practices find most of their clients within 30 miles of their office because it takes multiple contacts with a person or company before they decide to hire you – plus, the greatest likelihood of having multiple contacts is to be in close physical proximity to them. While some business owners tout how effective their website or e-newsletter is in attracting new clients, there are two realities you must realize: first, it takes an extraordinary amount of time and money to truly attract enough potential clients through Internet marketing to make a sustainable business; second, unless you practice in a low population area, you are missing 80% of your possible business if you minimize or ignore the people directly around you.
The more these three areas overlap, the better chance you have of finding an ideal target market.
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