Expand Your Horizons: Niche Marketing Success Stories
CPAs are finding that a niche market doesn't have to be obscure to be profitable. Here's how to identify specialty opportunities for your firm.
by Jean Marie Caragher/Journal of Accountancy
Niche marketing has become a successful strategy for many CPA firms because it identifies target markets and resources, distinguishes your firm from the competition and generates higher profit margins.
Keys to Successful Niche Marketing
Niche markets for CPAs may include specific industries (for example, manufacturing, real estate), services (for example, forensic accounting, business valuation) or other buyer groups that have distinctive characteristics (for example, public companies, family businesses).
To identify niche opportunities, you need to develop a marketing plan that includes:
This article has been excerpted from the Journal of Accountancy. Read the full story here.