Get bigger by thinking smaller

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Seth Godin just said what I’ve been telling you for a long time: niche it.

Actually, he put it this way:

“When you seek to engage with everyone, you rarely delight anyone. And if you’re not the irreplaceable, essential, one-of-a-kind changemaker, you never get a chance to engage with the market.

The solution is simple but counterintuitive: Stake out the smallest market you can imagine. The smallest market that can sustain you, the smallest market you can adequately serve.”

In other words, target small niche markets and own them.

Godin says that when you focus on “the minimum viable audience,” your message is more powerful and more effective, and as your influence in that market grows, word of mouth about you will spread throughout the market and into others.

In other words, you get bigger by thinking smaller.

Godin says that this is how big companies and brands got that way. “By focusing on just a few and ignoring the non-believers, the uninvolved and the average.”

Focus on your ideal clients and the influencers in your chosen niche markets. Get to know them. Serve them. Let them see your dedication to their market.

Forget about the rest. Let other lawyers fight over the rest, while you get the lion’s share of the best.

Want help choosing your target market? Here you go

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Focus and grow rich

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If you can remember getting interest on your savings account (if you can remember savings accounts), you recall that compound interest, as opposed to simple interest, allowed you to earn a bigger return because you earned interest on the interest.

Compounding gave you more bang for your savings buck.

The same principle applies to investments you make in your marketing.

One reason I preach the value of targeting niche markets is that by targeting small(er) niche markets, instead of “all” markets or “no” markets, your money, time, and energy compounds.

You get bigger results with less effort.

Instead of getting one new client when you deliver a presentation, for example, you might get five new clients because the people in that niche not only see your presentation, they also see your ads or read your articles or hear your name mentioned by one or more colleagues or friends.

Each instance of “you” in a niche market has a greater impact.

If you want to get more bang for your marketing buck, concentrate your efforts and dollars in smaller markets, especially where people know each other and word of mouth is strong.

In addition, group your “shots” by publishing more articles or running more ads in one or two publications (in the same week or month) instead of multiple publications. Publish a weekly or daily newsletter instead of a monthly newsletter.

You can expand your reach later, after you have saturated and dominated one publication (ads, articles), one organization (speaking, networking), or one niche market.

Most lawyers use a shotgun approach to marketing. Their message is weaker because they try to appeal to everyone. Their message is diluted, if not drowned out, by a sea of messages from other lawyers. They waste time and money and make a smaller impact by spreading their time and money too thin.

If you want to get more results (clients, referrals, traffic, subscribers, publicity, etc.), focus your message, your time, and your dollars in smaller markets, and let the magic of compounding go to work for you.

How to choose the right niche markets for your practice: click here

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How to never run out of ideas to write about

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Think about your target market and answer me a few questions:

  • What is the market’s biggest problem right now? The one that keeps people up at night?
  • What’s the latest news in that market? What are people talking about?
  • Name three websites, podcasts, or newsletters that focus on this market.
  • Who is the top lawyer, CPA, insurance or real estate professional in that market?
  • Name two organizations dedicated to that market that have networking functions in your area.
  • Name three profitable keywords for blog posts, books, or ads for that market.

Okay, that’s enough to make my point, which is that if you can’t answer these questions, you probably don’t know your target market well enough.

Or you don’t have one.

Which is why, when you set out to write an email or article, you “don’t know what to write about”. Which is why you aren’t writing, or if you are, your writing is too general and doesn’t stand out.

If your last blog post or article or email is written to appeal to “anyone,” there’s a good chance it appeals to “no one”.

When you know your target market well, which you must if you want to dominate it, you won’t have that problem. You’ll have plenty of things to write about, specific to that market. In fact, you’ll have so many ideas, your biggest problem will be deciding which one to write about.

Which is a nice problem to have, don’t you think?

Need help choosing a target market? Use this

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Put away your shotgun and get out your rifle

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I found a book yesterday which purported to be about marketing for attorneys. I didn’t buy it.

I didn’t buy it because the author isn’t an attorney, nor is she a marketing expert, for attorneys or anyone else. According to her bio, she’s a freelance writer. Nothing against freelance writers, but given the choice, attorneys prefer to learn from an attorney who built a successful practice, a marketing consultant for attorneys, or ideally, from someone who is both.

Someone like me, for example.

Because of my background and experience, attorneys prefer to buy my books and courses instead of those written by people with generalized marketing experience, or no marketing experience. They’ll pay more, too, because I’m worth more. At least to them.

We speak the same language. We understand each other. You don’t have to explain your situation, I’ve know it, either because I’ve lived it or because I’ve helped others in that situation.

By contrast, the aforesaid writer doesn’t have that connection. In her book description, she reveals that failing when she says, “. . . in your attorney business,” instead of in your firm or practice.

Nuff said.

This is why I preach to you about niche marketing. Your task in marketing your services is to show prospective clients, and the people who can refer them, that you are the best lawyer for the job. The simplest way to do that is to show them that you are the closest match to what they need and want, by virtue of your experience in helping other clients like them.

If a real estate investor is looking for an estate planning attorney and learns that you do estate planning exclusively and represent hundreds of real estate investors, he is more likely to choose you instead of another lawyer, and more likely to pay your well-deserved higher fee.

The key to attracting high-value clients is focus. Stop trying to be all things to all people. Put away your marketing shotgun and get out your marketing rifle.

How to get focused and attract your ideal clients

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Two lawyers walked into a bar. . .

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Okay it’s not a bar, it’s a networking event, but a bar is funnier. Oh, and guess what? You’re one of the lawyers. I’m there too, but I’m not me, I’m the owner of a small chain of restaurants and I’m looking for a new lawyer (who does what you do).

We meet and I ask “What do you do?” You tell me you’re a small business lawyer (work with me here or my story won’t make sense) and you tell me a little bit about yourself. I’m impressed. I can see that you have a lot of experience and think you must be good at what you do. You’re a nice guy, too.

I meet another lawyer and have a similar conversation. Her name is Alice and she also represents small businesses. She also has an impressive background.

During my conversation with Alice, she asks me if I know Joe Martin. Joe is the president of our local restaurant owner’s association and I know him well. Alice has handed several legal matters for Joe personally and he’s just invited her to speak at our next monthly meeting.

Then Alice asks me if I know Karen Collins, co-owner of a popular restaurant in town. I don’t know Karen, but I’ve had several friends tell me about her restaurant and I tell Alice that I plan to go. Alice tells me I will love the food. “Tell Karen I said hello; she’ll take good care of you.”

Yes, Karen is Alice’s client. In fact, Alice represents quite a few restaurant owners.

Before the conversation ends, Alice asked me if I am familiar with a tax proposal the national chapter of our association is supporting. When I tell her I don’t much about it, she asks for my email address so she can send me an article she wrote about the bill for our association’s newsletter.

Can you see where this is going?

Yeah, sorry. Better luck next time.

It helps to know people in your prospect’s niche market. It helps to be able to say you represent many of their colleagues or neighbors. It’s even better when your prospect knows them and can ask them about you.

How does this happen? It happens when you target a niche market and build your reputation in that market by writing, speaking, and networking. It happens when you focus on that market, learn all about it, and meet the top people in it. It happens when you focus your time and resources on that market and eventually dominate it.

You can do that in business niches and consumer niches. You can do that by targeting prospective clients or people who can refer them (or both).

Gotta go. I’ve got a reservation for lunch at Karen’s restaurant. Alice sent me.

How to choose the right niche market: The Attorney Marketing Formula

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Another “fee raising” success story

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I spoke to another attorney yesterday who told me that, at my urging, he increased his fees approximately 40% and has received no resistance. His fees were low to begin with, he said, but this has emboldened him to increase his fees even further.

He said the top of the market is still 70% higher than his new fee, and we talked about what he would need to do to justify another increase.

You don’t have to be the top of the market, I told him, but you should at least be in the top one-third to 20%.

But don’t be so quick to dismisss “top of the market” fees. Why couldn’t you be the most expensive guy in town?

You could. The question is how.

Much of marketing is about perception. To some extent, you’re worth more because you say you are. Who’s to say any different?

Your lower-priced competitors, you say? See, that’s where you’re missing the boat. There is no competition at the top of the market. It’s at the lower 80% of the market where everyone does pretty much the same thing and competes on price and good looks.

If you’re mucking about in steerage, you’ll never maximize your potential.

But there is a limit to how much more you can charge simply because you want to charge more. You’ve got to find something you do better or different than other lawyers, and make that a point of differentiation.

One way to do that is to specialize not only in the services you offer but the clients for whom you perform those services. Choose a niche market to target, focus on it, and groom yourself to become the “go to” lawyer in that niche.

There are big advantages to this strategy. Besides being able to charge higher fees, marketing is easier and more effective. Instead of networking with or advertising to “anyone” who might need your services or be able to refer clients, for example, you can concentrate your efforts on marketing exclusively to prospective clients and referral sources in your niche market.

That’s what this attorney said he will do.

He’ll save time, spend less on advertising (if not eliminate it completely), and develop a name for himself in his niche.

Word of mouth travels fast in niche markets. By next year at this time, I wouldn’t be surprised to learn that he has indeed become the “go to” lawyer in his market.

Learn more about niche marketing, with this

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Marketing legal services with a rifle, not a shotgun

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Most attorneys use a shotgun in their marketing. They spray marketing pellets far and wide, hoping to hit anything that flies by. Because they aren’t focused, they spend too much time (and money) and are often frustrated with their results.

The most successful attorneys use a rifle in their marketing. They aim at carefully selected prospective clients and referral sources. They may not always hit something, but when they do, the usually win the big prize.

Let’s look at two estate planning attorneys seeking to build their practice through networking.

Attorney number one goes to a networking event at his local Chamber of Commerce. He meets as many people as possible and comes home with 20 or 30 business cards. He sends everyone a “nice to meet you” email and waits to see what happens. And waits. And waits. Because everyone he met is busy, and also marketing with a shotgun, not much happens.

Attorney number two focuses on professionals in the health care industry, so he attends a networking event sponsored by an association of health care professionals. Before he goes, he does some homework. He finds out who will be speaking at the event, and gets a list of the event organizers and committee heads. He Google’s these people’s names, visits their websites, and sets up files on three people he wants to meet at the event. He knows where they work, what they do, and what’s important to them.

At the event, he meets with his chosen three. He takes notes about their conversations. He hits it off with the administrator of a big hospital, in part because they know some of the same people.

The attorney sends follow-up emails to his three. He notes that one belongs to another organization which has a meeting scheduled in two months, and makes a note to ask him if he will be attending that meeting.

The attorney calls a physician he knows whose name came up in his conversation with the hospital administrator. He tells him about his meeting and asks a few questions about the administrator, adding this information to his notes. He says something nice about the administrator.

He does more research on the administrator and his hospital. He finds out which law firms represent the hospital. He subscribes to their newsletters. He does the same thing for the hospital’s insurance brokers, accounting firms, and some of their major suppliers. He sets up Google alerts for these firms and their partners or principals, so he can stay up to date on any news.

He calls the administrator and leaves a voice mail message. He says he enjoyed meeting him and says he spoke to the physician they both know and told him about their meeting. He says the physician said to say hello.

He emails a copy of an article he just wrote for a health care web site to the three people he met at the event. Because he took notes, he is able to add a personal note to each email, mentioning something they talked about at the event.

Okay, you get the idea.

Attorney number two is focused. He doesn’t try to meet everyone, he is selective. He does his homework and he follows up. And because he’s not “targeting” everyone, he has the time to do it.

Attorney number one may get some business from his Chamber of Commerce network. But attorney number two is networking with heavy-duty centers of influence in a niche market. Because he specializes in that market, those centers of influence will notice him and eventually, provide him with referrals and introductions to other centers of influence in that market.

Marketing legal services with a shot gun can make you a living. Marketing with a rifle can make you rich.

Want help choosing the right niche market for your practice? Get this.

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The Harley-Davidson of law practices

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Seth Godin pointed out that it is more profitable to be #1 in a small market than number three in a larger market.

I agree.

He says the market leader sets the agenda and attracts the leading customers.

That’s true.

He says that Harley-Davidson isn’t #1 for all motorcycles but they are clearly #1 in their category.

Yes they are. They have a very loyal following and get lots of word of mouth referrals (or maybe that should be “word of ear” referrals).

There is great wisdom in this concept. I followed this in my practice where I targeted a small niche market, I preach it daily in my private consulting, and I write about it extensively in my new course, The Attorney Marketing Formula.

Let others fight over the mass market while you go fishing in a small(er) pond. Marketing is easier, the clients are better, the profits are greater.

As Godin points out, by redefining your focus and the way you serve your clients, you redefine (and come to own) your market.

As attorneys, it’s easy to stroke our chins, nod our heads, and say, “yes, this is truth.” But most attorneys go right back to swimming in the vast “mass market” ocean. Sadly, most attorneys will never come close to being #3, or even #333 in the mass market. But they could easily be #1 in a smaller market.

Yesterday I corresponded with an attorney who told me he is struggling to find a good niche market. I pointed out that in his email, he mentioned that his practice served many same sex couples and that this is a niche market.

By networking with other professionals and businesses owners who target that market, by working deeply in that market, he could become #1 in that market for his practice area.

Then he could afford a fleet of HOGS.

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