The Practice Building Team works with our clients to teach, assist and support them in researching, understanding and building a reputation within a desired niche. We then help them develop the marketing strategy that will help them become effective specialists in serving that niche successfully.
One cornerstone of modern practice development strategy is niche development. To their own detriment, many firms discover that they have three or four clients in the same industry and declare it a niche service. This tactic can actually do more harm than good to a firm when a new or prospective client discovers that members of the firm do not actually understand the industry as well as they desire. There are clear advantages of serving a niche as experts. Claiming the expertise to do so must be supported with the knowledge, experience and niche visibility to make the claim with veracity.
Our point of view is that before claiming expertise in a niche market or industry, your firm must understand every aspect of the niche you wish to make a focus of your business. This requires significant research, analysis and targeted messaging and marketing.