- What Is A Niche Market?
- What Is Niche Marketing?
- Researching Profitable Niche Markets
- 5 Major SEO Challenges Faced By Local Legal Niches
A newly-launched business is supposed to be no threat to a well-established and a popular brand. But is it really true? Can a new business never compete with that of a well-settled brand? Although large number of people will agree to it, but the reality is that a new business can give a brand a run for their market and money if proper digital endeavor is considered.
It has been found that the difficulties which the local businesses face when they try to become visible in the local search results of Google is far more complex. More than 300,000 local SERPs across industries from various verticals were analyzed in order to gain in-depth understanding of what are the chances for a local website to seem attractive and alluring to Google.
The study revealed that the industry which falls under the legal service niche is more competitive than any other local or industry services. This service surpasses other niches in terms of its rate of competition or the level of profit.
With this highly competitive market, the legal businesses need to grab an understanding over what are their niche market and the target audience of their business along with having knowledge of the basic requirement and behavior of the target audiences. In order to gain a good insight about the industry, one ought to know what exactly niche market is and niche marketing.
What Is A Niche Market?
A niche market is well-defined as a segment of the market on which the particular is based upon or is focusing. A market can be fragmented in to various smaller market segments with specific interests and demographics.
What Is Niche Marketing?
Niche marketing can be termed as a good combination of art and science. The strategies and the techniques associated with it is a science whose theory needs to be understood excellently in order to have a proper knowledge of the outcome.
However, the way the product or service is marketed in the particular niche is called an art. Many entrepreneurs believe that the niche marketing will cut down the rate of profit of the businesses. But opposite to this, the stark reality stands to the fact that the more well-defined niche that you have for your business, the more you are equipped with to be competitive in the market.
Your marketing messages are honed to enable your target audiences to become your customers and expand your market base brilliantly. This is a unique process for exploring the market and for bringing some of the finest and most exclusive level of services which stands second to none in the market.
Researching Profitable Niche Markets
Searching and analyzing the particular profitable niche markets can be extremely tricky. The demand of the market not necessarily always defines the level of profit that you can plan for your businesses. If you wish to create a revenue generating website in the niche oriented market then your approach should be different than your competitors. The specific approaches and strategies become essential for you to adopt in your business in case your business is located online.
The basic approach that you ought to consider while engaging with the process of niche marketing includes the following:
Step One: Know And Identify Your Audience
Having a legal business, it becomes necessary for you to gain a crystal-clear idea about your audiences. A business depends entirely on the audience. Thus, there is a great need for the legal service entrepreneurs to focus on your business, the products or services that you sell and of course your audiences for which your services are designed.
According to Chris Ducker, Internet business entrepreneur and an outsourcing guru-
When you choose a niche audience and take the time to understand their needs deeply, a whole new world of options open up to you. You switch from struggling to find ideas for products, to instantly knowing exactly the types of products you should be promoting “because they’re in tune with your niche audience’s needs.”
Step Two: Keyword Research For Your Niche Market
Identify the keywords and the search terms with which your niche market audiences might search for your legal businesses online. This information introduces you with the idea that reflects the topics your audiences care about the most, it gives you the potential to grab the niche explicitly.
Google Adwords Keyword Tool is the free and easy way to start gathering information about the particular keyword or search term which your audiences look forward to in order to find your business on the search engine.
Step Three: Know Your Competitors
No business can run without facing good and healthy competition. The competitions always serve as the most interesting thing that boosts your growth opportunities in the market. It is the quality and the level of competition which serves as a good indication whether your niche marketing is going and performing good or not.
In such cases analyzing the market and the competition and keeping a track on their keyword performance gives you a clear and wonderful idea about the well-performing legal service related keyword that can unleash its full potential for successfully running your businesses.
Step Four: Research Latest & Updated Industry Trends
Google Trends is a wonderful free tool that you can avail to in order to add another crucial piece of information to your business. It gives you the liberty to comprehend the reason for which you are losing on your potential clients and experiencing an overall fall of traffic on your website.
Understand the latest industry trends and plan your strategies accordingly in order to establish a long term business opportunity for your company.
Step Five: Enter The Niche Market
It is now that you are equipped with the right kind of information and business insights that you should plan to enter the niche market. This surely will help you to get wonderful prospects for enhancing your businesses excellently.
Okay! So now you are ready with your niche market. But is it so easy to tackle the extreme level of competitiveness of the legal services? According to a recent report by Statista, the legal service market along generates more than $248 billion USD as revenue with comparatively small number of searches. The success of the process of SEO in your legal niche market depends on your deep understanding of the way the industry functions and the performance of the key players of the industry.
5 Major SEO Challenges Faced By Local Legal Niches
The main challenges that are faced by the legal business entrepreneurs in enhancing their digital presence in the virtual world through the Search Engine Optimization techniques include the following:
1. The Local Pack Is Beneficial For Local Businesses
Google introduced a new strategy for the businesses which has dramatic result in minimizing the chances of the local businesses of becoming visible in its local packs. The leading Search Engine replaced the 7-pack in SERPs with a 3-pack.
The companies which are based locally can find an ideal platform in the local pack of Google. This is the best and the most suitable way to be present and to be visible on the search engine results. Although the organic local SERPs are entirely occupied by the huge brands and big businesses, yet there is brilliant scope for the legal local business to experience wonder in their future prospects.
There are a great number of legal services that found its place on the local and hyper-local packs of Google. The significant number or percentage of the legal services that appeared on the search engine excellently reflects the reach of the legal businesses and its demand in the market.
Through the country specific search option available on Google, one can easily find about the ranking and the position of a particular company or keyword on the search engine in any particular country of the world. The online presence of the local legal businesses is tremendously high as compared to other business verticals which reveal the competitiveness of this sector.
According to a survey conducted in the US, although California stood as the most densely populated law firms in the country, but the local legal businesses appearing on the local Google search, Miami has the highest number of local search for the legal business services.
2. Local Legal Website’s Ranking & Number Of Reviews Are Not Inter-linked
Every business needs to understand the value and importance of customer reviews. It authenticates your businesses and establishes a wonderful position for you in your potential customer’s mind. Every business owner understands the level of customer reviews and some even believes that the more number of reviews available on Google, the better the ranking on the search engine.
A level of trust and integration is instantly established when a potential client checks out the reviews for the local legal businesses. It also increases the likelihood of the potential client converting into a permanent client for your business. The presence and availability of the Google native reviews is said to be one among the top 50 reasons and factors affecting the local search engine ranking.
There are several surveys and researches being conducted in the market to establish or to find out the relation between the ranking numbers and the local search results. It can be said that a new trend has been established in the market- the trend of lack of native Google reviews. It is because of this new trend that Google ranks the businesses that haven’t been reviewed so highly in the native places. Thus, you ought to have a clear idea that even if you have a significant number of reviews for your local businesses, it won’t play a major role in helping your business to rank higher in the local results.
3. Online legal businesses are dominating local SERPs
The legal services for online businesses are generating significant revenue as more and more number of people are showing their interested in hiring legal services online. This niche is expanding its reach and is experiencing exclusive increase in terms of its revenue and profit. The number of searches for the legal business online is gradually becoming popular in the market. More and more number of people is opting for online services as nobody is interested in spending their time scheduling an appointment with the lawyers anymore.
It is because of this that more and more number of people is taking their business online and is planning to have a digital kick-start for their legal services in order to boost it brilliantly. The good thing is that the entrepreneurs have believed on this and have adopted a significant approach towards turning the business into a digital one and to get the best of the opportunities to enhance their prospects and expand their client base.
This phenomenon establishes that the local businesses are now competing not only with their global counterparts and competitors but also with their online rivals. If your customers can find you online then there are probable chances that they are going to contact you, if not then you are missing out on something really important. The online legal business with better position on the SERPs experiences good flow of organic traffic for their website which converts excellently to give a boost to their businesses.
4. Professional Website Must For Standing Out In The Market
You will find a number of businesses online that does not have a website of their own but still they are appearing at the top results of Google. It is because the Google SERPs allow the local businesses to make the best use of the local pack offered by them, in order to stand tall in the search engine results.
But is this a long-term ranking? No, it is not. In this highly unconventional and competitive market, it is just not ideal for the legal niches to enter the market without a website. People tend to trust and believe more on the businesses that have its own website for the businesses that it offers as compared to the ones with no site.
Without a reliable and professional-looking website, your legal business service will seem to be less credible, not only to your potential clients but also to the popular search engine- Google. It is thus, you will find large and big businesses earns more traffic and are trusted more confidently by the visitors than the smaller and little ones with no website of their own.
5. Google Gives No Priority To Local Legal Firms In Organic Search
When talking about organic search results, your local legal businesses stands nowhere in the market. The entire Google SERPs is flooded with the global and online businesses. Your business listing stands no place in the competitive market. It is essential and obligatory for all the local legal business owners to plan a unique position for their market by introducing a unique and extraordinary website for their service.
The search result of Google highlights the global and online legal businesses as compared with the local businesses that have no website and are not working through the online podium. The local entrepreneurs loses their chance of competing with the big and online names of the industry as they fail to garner the attention, trust and the level of confidence from their potential clients that could help them to get great scope of developing their business at a rapid pace.
The local legal niche presents a lot of SEO challenges that no other vertical has to face or experience. The demand of the people looking for online legal support and hiring their legal advisors online has given rise to a new trend of high penetration of online legal services. The existing legal market is experiencing drastic and major change which is competitively creating a new phenomenon in the industry and changing the entire legal business landscape with revolutionary techniques.
The pursuit to keep going and surviving the toughest challenge of the industry is boosting the growth and development of the modern market and is encouraging them to plan and spend their investment in a good digital venture. The online legal businesses are taking away the traffic from local companies and are hugely affecting their businesses. These online businesses do not give the local businesses a good chance to rank well in the organic search results.
The good thing for the local legal businesses is that they still get the priority in the local packs of Google. Having a website boosts your credibility and brings upon the best results for them for improving their online presence. This is not only good for gaining attention from your customers but also for the search engine as Google also prefers to give local legal businesses that owns a site, a position or a rank on the search engine.
But, before these points the one thing that you ought to keep in mind is to understand what exactly a niche market is and how the success of your legal businesses can get affected through the niche searches and online ranking. It is advisable that you spend some quality time in understanding, analyzing and using the tools available in the market to get properly ready for the market and to have a great experience as to what should be your ideal strategy when it comes to your business, its online marketing SERPs results.
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