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Niche Marketing Strategy - Why It's Better

Niche Marketing Strategy - Why It's Better


by Hugh Duffy

Targeting a specific market

What is a Niche Marketing Strategy

Developing a niche within your practice is designed to focus on a subset of the market. It focuses on a small group of buyers, rather than the broader market, and seeks to penetrate that market deeper with a customized approach. Of course, anything customized requires a premium price.

Examples of a niche marketing strategy that evolved over time: 

- Tesla - they revolutionized the auto industry

- Apple - innovative design

- Cirque du Soleil - different twist on entertainment

- Netflix - streaming entertainment

- Amazon - online book seller

    To learn more about why a niche approach is so important, I highly recommend reading (or listening) to Blue Ocean Strategy. It's an amazing book on why you need to differentiate your practice.

    Why a Niche Approach is Better

    • Commands a higher fee
    • Attracts clients from further away
    • You retain clients longer in years
    • Complementary services are part of it (advisory)
    • Life time value of each client is higher
    • Generates more referrals
    • Marketing becomes easier and more effective
    • Your work becomes easier (less complicated with limited scope)
    • Easier to scale up your practice (less variety)
    • Higher profit margins and hourly fees
    • Your practice is worth more

    Examples of Niche Accounting

    CPA Accounting for Churches, Ministries and Parochial Schools

    Faith-based accounting and advisory
    Associated CPAs

    CPA Accounting for Gas Stations, Convenience Stores and Liquor Stores

    Retail Accounting
    Simon CPAs

    Puerto Rico Tax Incentives - CPA Firm

    Puerto Rico
    Delerme CPA

    Tax Accountant for Exotic Dancers, Film Content, and Camera Models

    Adult Entertainment
    Sancus Tax and Accounting

    CPA for Subcontractors, HVAC, Electricians and Plumbers

    Construction Accounting Services
    Strategic CPA

    CPA for Pet Hospitals and Veterinary Practices

    Veterinary Accounting
    BWM CPAs

    Defense Contractors - Government Contractors - DCAA Compliance 

    Government Accounting
    Financial Advisory Systems, PLLC

    CPA for Row Crop Farms, Grain Storage and Aquafarms

    Agricultural Accounting
    Maxwell CPA

    CPA for Graphic Designers, Interior Decorators and Landscape Designers

    Design Industry Accounting
    Associated CPAs

    CPA for Maritime, Trade, Transportation and Limo Transportation

    Transportation CPA
    James Castaldo CPA & Associates

    CPA Accounting for Dental Practices

    Accounting and Tax for Dentists
    Morey CPA & Associates, Inc.
    Hugh Duffy