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Niche Building Strategies

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Anonymous
Anonymous

Our firm landed a large client in the construction industry. We have never focused on the construction niche—and don’t even consider it a niche for us. However, we now feel that it’s time to get deeper in that sector since we’re stealing talent from a couple of firms in order to service this large new client (who came to us because of a relationship with our MP). My question at a 30,000 foot level is what strategies should we NOT employ to build this construction niche?

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Craig Weeks
Craig Weeks

What NOT to do?  I believe what you should not do is approach this niche with an impersonal marketing bludgeon, that is to say you place ads in construction journals or publications, add the words "construction firms" in your laundry list of segments served in your materials and web site, send out a press release, and otherwise dispassionately inform the niche of your presence.

Instead, I recommend the professional(s) in your firm who wish to seek business in this segment become personally involved in approaching the market.  Typically, this means they,  e.g. get involved with constrtuction-related groups, create a newsletter/blog specifically addressing the market, write and submit articles related to the niche, make themselves available for niche-related speaking engagements, seek out relationships with lawyers and consultants involved in the niche, assemble and conduct a financial/tax symposium focused upon construction issues, and otherwise build a footprint within the prospect population that is based upon personally engaging with prospective clients.

An approach based upon personal involvement will be less expensive and more effective in both the short and long terms in attracting more business from this niche. 

One caveat is, of course, that there needs to be one or more partners who enthusiastically involve themselves in the effort.  The reality is that sometimes this isn't the case.  Finally, there must be appropriate staff and/or vendor support to create marketing materials, track metrics, handle IT issues, follow up, etc.

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Gale Crosley
Gale Crosley

I recommend your partner(s) does several research calls to find their strategy - that is services-channels-targets and the connection between the three. This is the most efficient way to a sustainable growth approach with the highest odds for success.  See more articles under Lead Generation on my website for more details about the research call methodology. www.crosleycompany.com.  Don't write, speak, show up at association events and the like before you do many RC calls, or you'll waste time and energy! All the best.

Download Attachment (20-The_Research_Call.pdf)

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Debra Andrews
Debra Andrews

I wrote on this topic just a few days ago for Social Media Today. It's an easy read that outlines my 8 favorite niche building tactics, and I think it will really help you. Take a look here! 

In the blog post, I explain why simply SAYING you specialize in an industry is never enough. Anyone can do that, and prospects will see right through you. You have to be willing to engage the target audience both online and off. 

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