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. Having just returned from a Rainmaker Retreat this past weekend in Orlando, I am reflecting a lot on a topic of interest to every attorney: how to stand out from the crowd and get discovered by prospects.

Carving out a niche for yourself is one of the best ways you have to keep and attract clients. When the economy is dicey, I realize 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 find you, which In turn helps you develop your law firm marketing strategy around promoting your area of expertise and specialization.

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On-Demand Webinar: Lessons From Dewey & LeBoeuf: 5 Biggest Reasons Why Law Firms Fail

With the spectacular announcement of the biggest bankruptcy in law firm history, Dewey & LeBoeuf stunned the legal community. Now comes the work of dissecting what went wrong and how their competitors can avoid a similar fate.

When you order this new on-demand webinar, you will watch nationally recognized law firm marketing expert Stephen Fairley interview Donald Scarinci, Managing Partner of Scarinci Hollenbeck, one of the fastest growing mid-sized law firms on the East Coast and a nationally recognized thought leader on law firm management. They discuss:

• The 5 biggest reasons why law firms fail and how you can avoid a similar fate
• How fast growing firms can avoid the pitfalls that brought Dewey & LeBoeuf to its knees
• How Scarinci Hollenbeck went from relying almost entirely on “word of mouth” marketing to being featured in the Wall Street Journal for their cutting edge approach to social media in less than 6 months
• What Managing Partners and law firm administrators need to know now to compete
• Marketing and managing your firm in today’s roller coaster economy
• A “behind the scenes” case study of how Scarinci Hollenbeck has adapted to the new realities
• Effective tools multi-attorney firms can use to market a variety of partners and practice areas

Order the on-demand webinar on Lessons From Dewey & LeBoeuf: 5 Biggest Reasons Why Law Firms Fail , watch it at your convenience and share it with your partners and associates.