What is your Niche?

A fascinating report on Financial Advisor Marketing Effectiveness showed that niche firm marketing effectiveness is much higher than generalized firms. While the industry saw less than 25% of marketing strategies prove effective, niche firms, “had greater satisfaction with the number of leads received, the ‘fit’ of the prospects with the firm, and the effectiveness of their lead generation strategies when compared to non-niche firms.” Ultimately, niche firms have a 58% growth rate compared to non-niche firms’ 26% growth rate.

This report also showed that niche firms can successfully serve multiple niches simultaneously. Have you considered an “experiential” or personality type niche as opposed to a professional or stage of life niche? Possibly individuals who want to engage in learning and growth? Clients who are excited by the idea of designing a future that is meaningful and fulfilling? Those who want to be thoughtful about the decisions they make?  Who are the people you would most enjoy working with?