How do you think your business would change if you were seen as an expert or authority in your field? Most likely, your business would be more profitable. But there are seven other benefits to becoming an expert in your field:
You Become the Hunted, Not the Hunter
You will begin to not only attract customers, but your ideal customers.
Let’s look at Suze Orman. Like her or not, she is considered an expert in debt reduction. She has a niche market that her message appeals to; she doesn’t have to compete with others in her space. Her message resonates with those whom she wants to work with, and repels others. She is an educator and advocate for her prospects, and they come to her.
They buy her books and online courses, attend her seminars and visit her website, all because she is considered an expert in her field. She doesn’t have to worry about hunting for clients.
You Don’t Have to Prove Yourself Anymore — Customers Trust Your Advice
In general, when you believe someone knows what they are talking about, you tend to not argue with or question them.
Let’s look at the example of an accountant. An accountant/CPA knows more about tax laws and IRS regulations than the average person.
If your accountant says you should file as a head of household and claim X number of exemptions, this advice is within their expertise; most people will not question them. This will happen in your field in the same way; your prospects will not question your advice once you’re considered an expert.
Your Credibility Is Enhanced and Shortens Sales Cycles
Being an expert goes hand-in-hand with being credible. When you are considered an expert in your industry or space, you will be trusted, listened to and your credibility will increase.
How does enhanced credibility help your business?
For example, if you’re a chiropractor and you have video testimonials from people of different ages who state how your adjustments made a difference, relieved them of their pain, etc. and in the meantime, you are being featured in major media, sharing your advice, being interviewed by trusted media outlets or speaking at events or conferences, just by the nature of your accomplishments, your credibility will increase.
Credibility shortens sales cycles. When someone sees you as an expert in your field and as a credible person, moving forward to hire you or work with you becomes an easier decision.
You Can Give Yourself a Raise
Don’t celebrities make more money? Celebrity hairstylists, athletes, actors, and entertainers make more money. Celebrity trainers, chefs and recognized financial advisors (can you say Tony Robbins?), lawyers (Johnny Cochran) and realtors (Barbara Corcoran) make more money. No matter what the industry, even to a celebrity dog trainer.
Well, this same concept applies even in the smallest and less glamorous industries.
When you garner celebrity-like status, which is expert status in your niche or industry, people already expect to pay more for your services.
Would you pay more for a financial book written by a known financial expert like Tony Robbins, Suze Orman or Dave Ramsey than you would a book written by some unknown accountant? Of course you would. In the same way, your customers will be willing to pay more for your services when they see you as an expert.
You Will Attract Attention as an Authority
Once you are considered an expert in your field, you will get the attention you desire and deserve.
This could include being asked to speak at an event or local conference to being invited to be a guest on a radio show or podcast. You could be invited to be on television, or you could be approached to be featured among other experts in a book or on a speaking panel. Regardless of what shape it takes, being considered an “expert” will give you the attention and respect you desire and deserve.
Your Marketing Message Becomes More Clear
As you begin implementing authority-positioning strategies and become recognized as an expert in your field, you will automatically have a clearer understanding of who you are, who you help and your overall marketing message will become very clear.
It helps you identify what lights you up, where your strengths lie and it unfolds what your marketing message should be and to whom. This is called micro-specializing: speaking to a specific audience within your industry.
To give an example, let’s look at a real estate agent. Of course, a realtor can help any buyer or seller, but the agents that make the good money micro-specialize as a luxury home agent, a first time buyer’s agent, an agent to the stars, an agent to professional athletes or a relocation agent.
Once you go through the authority-positioning process and are seen as an expert, that process helps you determine who you like to work with and then you can target your marketing message to that audience.
So, if you’re an avid golfer, maybe that’s a market of buyers and sellers you should specialize in helping. If you enjoy working with women, maybe you should specialize in helping women and you drill down further to a specific race or status such as Asian women looking to buy a home or divorced women. When you specialize in this way, you learn and address the needs and concerns of that group.
You stop marketing to everyone looking to buy or sell, and instead concentrate all your marketing efforts on your niche. As a result, you have focused your marketing strategy and streamlined the process of acquiring clients.
You Become Sought After by Other Experts and Authorities
A telltale sign that you are an expert is when other experts want to connect with and collaborate with you. Like attracts like, right?
A good example of this process could include a financial planner who seeks out an estate planning attorney, a CPA and a real estate agent to create an expert team.
If you are not specializing in an area within your industry, you will most likely not be seen as an expert because you will appear to have a lot of knowledge, but no specific specialty.
There are many benefits that come with being an expert and it can be overwhelming as to how to accomplish it and where to start. So, the simplest thing you can do is start by determining an audience within your industry or field with which you would like to work.
Once you take steps to position yourself as an expert, the above benefits inevitably come to fruition.