Lawyers can learn a lot about marketing by looking at what other professionals and businesses do to market their products and services. Real estate brokers and agents, for example, use a method of marketing that allows them to maximize the effectiveness of their marketing and minimize their costs, and lawyers can use the same method.
In a nutshell, instead of spreading their marketing “seeds” anywhere and everywhere, real estate brokers concentrate those seeds in a small part of a city or neighborhood (for residential brokers), or an industry or list (for commercial brokers),
That neighborhood or industry is their “farm,” and that’s where they invest most or all of their marketing dollars and time.
It’s a more cost effective and impactful than trying to get their message in front of “anyone, anywhere who might want to buy or sell”.
Open your mailbox and you’ll see the same flyers and calendars from a handful of local agents and brokers who farm your neighborhood. You may not mail flyers and calendars but if you do any advertising, speaking, or networking, instead of trying to do that ‘everywhere” and getting lost in a sea of lawyers’ messages, you can stand out in your target market by focusing on a few neighborhoods, a few industries, or a few groups.
If you advertise, don’t choose “every” keyword or publication, concentrate on keywords or publications that get your message in front of your ideal clients. To some extent, this will allow you to dominate your target market or niche because your prospects will seem to see your message “everywhere”.
Your marketing messages are also more effective in a niche market because you can use buzzwords and stories and examples from their niche. Instead of a lawyer who does estate planning, for example, you can position yourself as a lawyer who does estate planning for medical professionals or yacht owners.
Yes, niche markets are smaller. But for each $1000 or hour of time you spend in a niche, you get a lot more bang for your marketing buck.
And you can then target more neighborhoods, industries, professionals, or lists.
How to choose the right “farm” for your practice
