Tom Kane: Niche practices can be marketed more effectively and cheaper than a general practice in my opinion. Law firms that promote their niche practices will easily standout from the crowd; and can charge more for the practice, if they do.
Two of my posts on niche marketing that come to mind from a few years back include "Narrow Your Niche for More Effective Marketing" and "Do You Have a Niche and What Are You Doing about It?" Take a look, because there is a hot new niche that just came on the market. And there ain’t going to be a recall any time soon.
Thanks to the United States Supreme Court’s recent decision in Citizens United v. FEC (No. 08-205), January 21, 2010. I’m sure many firms will be adding a niche practice representing plaintiffs or defending corporations/unions over their respective political contributions.Some shareholders and/or union members may be vehemently oppose to the particular political choices made by the corporation or union. Could get to be messy out there, and those with a early lead in marketing such a niche might just win big.It could be a sub-niche to existing Shareholders’ Rights Practices, or stand-alones called something like “Shareholders’ Political Rights Practice” and “Union Workers’ Political Rights Practice.”
The point is that you should jump right in if you think there is anything to this, and you too believe in the value of niche practices. Get out there ahead of the competition, and don’t forget to grab that domain name for your area while you're at it.