The most profitable firm I work with (£360,000+ per partner profits) focuses on one niche.
The fastest growing firm I work with (expecting £250,000+ in new fees this year – 25% of fee growth) focuses on one niche.
Both also have a general practice with greater fees than the niche. What their niche gives them is a marketing focus.
They are not diluting a marketing message so it appeals to many different business owners. Their marketing message is specific to their target niche, their target list. And yes they have a focus on building their niche list so they can get their niche message to their niche list.
What’s your firm’s experience of niche marketing?
What difficulties have you experienced marketing to a niche?
What niche sectors have you tried or considered?
Author of ‘Bamboo Marketing For Accountants’ – the route map to marketing success for accountants in practice – http://www.bamboomarketingforaccountants.com/ Creator of ‘Business Bitesize’ – cultivating a greater flow of new clients for your accountancy firm through profitable word-of-mouth
And let’s get LinkedIn http://www.linkedin.com/in/paulshrimpling