If you are an entrepreneur, business/ life coach, or consultant then it's important for you to know that the rules of marketing who you are and what you do have changed!
Long gone are the days of "electronic brochures" for websites that tout all of the goods and services you have offer people. No longer do all of the "letters" behind your name or traditional degrees give you a leg up on the competition.
In todays economy old school "accreditation" is out, and new school "authority" is in!
What I mean is, in the world of online research and Youtube university people care more about the "results" you can give them than the "credentials" that you've gotten.
What people care about most is:
"...have you gotten the results you want, and can you help me get the results I want?"
Enter, Authority Marketing!
What is Authority Marketing?
Authority marketing is a strategy of delivering information that positions you and your business as a "trusted" advocate and educator on a particular problem or topic. In a nutshell, in the age of authenticity, authority marketing helps you leverage your knowledge, experience, and subject matter expertise to ascert preeminence in the marketplace.
People don't care about what you know until they know that you care. Because of this, those who consistantly give valuable advice or insight that helps others solve their problems are over time, rewarded with the trust and loyalty of the "buyers" in their market.
Why is Authority Marketing Important?
You've heard the old adage:
"People buy from those they know, like, and trust..."
While in general this is true, having authority dramatically accelerates the relationship process and gives you an unfair advantage. Let me explain:
Let's say you are deciding to get back into shape and you want to work with a personal trainer. You have an opportunity to work one on one with Tony Horton (P90X guy) or a well educationed, certified, and accredited personal trainer at your gym who is very good at what he does. Who would you choose?
Of course, the chances are pretty high that you would choose Tony. Even though he, to this day, does not have traditional degrees or certified accreditation in diet and exercise you and I (like most others) would choose to work with Mr. P90X himself. Why?
Because he has established "authority!"
Tradititionalist will argue that this is unfair! Unfair or not, this is the reality.
So, if you want to gain the unfair advantage in your niche, it behoves you to learn and practice authority marketing. Or leave yourself at the mercy of someone who does!
Here are 7 real advantages for establishing authority in your niche:
1. Authority opens more doors of opportunity.
When you have preeminance in one area of focus, key players in other areas and niches are more open to associating with you. Why? I call it the "A List Effect!" Everyone likes to associate and rub elbows with "celebs." Even the best in one area of focus feel a little more important when they hobnob with other "A" listers. As a result you'll be invited into opportunities that the masses will never know about. When you are seen as "elite" the best want to associate with you because it affrims that they too are elite.
2. You attract your ideal clients rather than chase them.
Similar to the "A List Effect," your clients want to be associated with the best too. As a result the clients you attract will be more motivated to prove they are exceptional as well. This translates into attracting clients you'll enjoy working with and who will take action and get better results with your service.
3. Priviledged access to other "A" players in your industry and beyond.
If Oprah or Tom Hanks called you right now, would you stop what you are doing and take their call? Of course you would. Even if you had know idea why they'd be calling you, their authority naturally warrants a response from you. While I'm certainly not saying you'll have the clout of an Oprah or Hanks, being a trusted authority in your niche gives you a level of celebrity that has the same effect on key players that know you. With authority joint ventures and strategic partnerships are a lot easier to create and execute.
4. You are able to command premium fees for what you do.
Because you are seen as one of the best you will be able to ask and receive higher fees for your service. People are wired to pay more for things they place a higher perceived value on. And your authority gives you a higher perceived value in the marketplace.
5. Scale your business faster.
Again while it seems unfair, when you establish authority growing your business becomes a lot easier. There is a powerful momentum that is created as your authority increases. A few weeks prior to writing this article Micheal Hyatt had concluded an online summit that instantly added over 100,000 new people to his email list which gave him another 7 figure launch of his membership program Platform University. All this happened within a three week time frame. Micheal Hyatt can get this kind of result because his authority is at an all time high!
6. You don't have to prove your worth in the selling process.
Your authority speaks for itself. When you share your offer people will receive it differently than if you had no authority and made the same offer. I can't tell you how many clients I've worked with who were just as qualified and as capable as the "celebrity experts" in their industry (if not more) yet they continued to struggle with filling their programs and events. They had to work a lot harder to enroll people because they had to overcome more buyer psychological barriers that simply did not exist for those who had established authority.
7. Easier to create multiple streams of income.
A simple technique for adding more income streams without create new products is to go vertical with your signature offer. What this means is, simply just charge more for greater access to you. For instance your best selling book may have established your platform. With that platform you could take the same content in your book and create an online course that has a high perceived value. From their you could take the same information and create a group coaching experience around your course curriculm and charge an even higher price. From there you could offer a high end mastermind program all the ways up to an elite one on one coaching experience that commands your highest fee. Anthony Robbins get $50,000 a day for a one on one session with him. All this is possible as you grow your authority.
Like it or not "authority" matters. It will be to your advantage to create an authority marketing stratedgy and content schedule that will help you build it for yourself.
It's your turn:
What information or insight stood out the most for you? Share your experience & insights in the comment area.