The economic downturn has taken a toll on both you and your clients. They can’t afford a lawyer, and you can’t afford to waste a dime of your legal marketing budget. So how do you know where to invest your advertising?
The Pareto Principle is a business rule that states 80 percent of profits come from 20 percent of the marketing. This means 80 percent of your income is coming directly from 20 percent of your clients—and 80 percent of your marketing efforts are essentially being wasted. The key success is pulling marketing away from the wasted avenues and redirecting it toward the 20 percent of your clients who bring you the greatest return.
Here are a few major benefits of niche marketing for your law firm:
- Distinguishing yourself. If people see your firm as THE firm that handles their type of case, they will believe you are the one lawyer who has the best chance of helping them.
- Streamlining your cases. If you’re a general practice doctor, you’re going to need to know a lot of different ailments, across all areas of the body, for all age ranges and races. On the other hand, if you’re a podiatrist, you’re going to need to know a lot about one specific area: the foot. By focusing your practice, you will gain books’ worth of knowledge on a subject that may others in your field may only have gotten a paragraph on.
- More free time. You know right where your clients are and how to reach them—and they know the same about you. You won’t have to waste time attending events that have no return, or throw money away on marketing efforts that don’t bring you exactly the types of clients you want.
To get more insider tips to improve your legal web marketing, call 703-591-9829 today or download a free sample chapter of our Great Legal Marketing book.