Unlocking New Law Firm Business With Industry Focus

Unlocking New Law Firm Business With Industry Focus

According to an article by Attorney at Work, an industry focus can be an effective business development strategy for law firms. Instead of marketing based on legal expertise, focusing on an industry niche can yield significant new law firm business because clients value lawyers who understand their industry and its legal needs. 

While major industries like healthcare and transportation are saturated, the article says that smaller subcategories or specialized niches, such as labor and employment work for hotels, present untapped opportunities for growth.

The article highlights these steps to position yourself as an industry expert and develop new law firm business:

• Research potential niches based on industry size, growth potential, competition, and required services.
• Determine the extent of your dedication to this niche—whether it’s a small part of your practice or your entire focus.
• For referrals and insight, leverage existing relationships and connections with industry consultants, bankers, or accountants.
• Engage with industry organizations and actively participate in relevant associations to build visibility.
• Highlight your industry focus in your firm bio, practice description, and LinkedIn profile, showcasing your activities and involvement.
• To maintain industry presence, create ongoing visibility by developing recurring activities like blogs, reports, or webinars.
• Collaborate with others in and outside your firm to provide a comprehensive service offering to clients.

Focusing on a niche demonstrates an understanding of industry-specific issues, which can help law firms stand out in competitive markets and achieve long-term business growth.