Why do a few businesses grow while the majority do not? What do the top few have in common? They focus on Authority Marketing. They recognize a fundamental principle: the more doors their business opens, the more people will walk through that door to become a customer.
Only 4% of the 28 million U.S. businesses exceed $1 million in sales. Only 0.4% exceed $10 million, and only 17,000 surpass $50 million. These ratios are similar in other developed countries.
How do you open more doors? Allow us to introduce you to Authority Marketing, a marketing discipline that you may or may not be familiar with.
Authority Marketing is the strategic process of systematically positioning a person or an organization as the leader and expert in their industry, community, and marketplace to command outsized influence over all competitors.
Let’s dissect the definition.
Strategic process means creating a deliberate plan executed over time. Therefore, Authority Marketing requires a carefully defined blueprint implemented methodically over time. Authority is gained patiently and with deliberate intention.
Systematic positioning means implementing your plan to provide the most effective return on investment. That means focusing your efforts on your business’ prime radius, ensuring you are known in that radius’ media channels.
Command outsized influence over all competitors means you and your company are the first names that come to mind with prospects. If prospects trust you more than the competition, you win the business. If prospects think you know more than the competition, you win the business.
When competing in a crowded marketplace, industry, or community, it’s all about the influence that you and your business have over your competition to magnetically pull prospects. Becoming an authority in your field provides an unfair advantage by immediately positioning your business above competitors. Authority opens doors, the most important responsibility of any CEO.
Every entrepreneur, CEO, and professional must understand that authority does not happen blindly. It is no accident, rather a deliberate creation – the result of explicit intent. Authority is established, in part, by achievements, awards, professional designation, and experience.
Of course, you may spend half a lifetime building this line of authority for yourself when out of the blue, another person in your profession with less than half of your experience may skyrocket past you in authority ranking.
This “Super Authority” may seem sudden to others, but it’s the product of deliberate actions, of positioning yourself in a broad range of effective marketing campaigns, and using unfair advantages to outflank and distance yourself from the competition.
Simply put, authority can be—and often is—manufactured.
Nothing builds authority more rapidly and effectively that being the author of the book on the topic. To build authority, celebrity, and expertise, your book must read and look as good as any you would find on the front table of Barnes & Noble.
To be seen as authority, you must have a larger-than-life brand and be everywhere. Branding is your logo, look and feel, color palette, website, collateral materials, etc. Omnipresence is deploying those assets to show up in many places.
Authorities constantly publish useful content for their consumer public. The content should come in multiple forms and multiple sizes. Content marketing includes articles, books, blogs, podcasts, whitepapers, and more.
Being interviewed and featured in the news – radio, television, print, and online is the fastest way to build credibility for an individual or an organization. When consumers see “As Seen On/In”, it immediately builds confidence and trust.
When speaking you are automatically seen as an authority by the audience. Speaking can create income streams through speaking fees, product sales, and leads generated from the audience you spoke to.
As the authority in your field, your business will attract higher quality and quantity leads. Authority provides a magnetic pull, creating interest in place of resistance. Given the choice, consumers prefer to select the person and business with the highest authority, celebrity, and expertise.
No Trust = No Sale. If the prospect doesn’t trust you and your business, they will not buy. If you look like every other company in your industry, they will see you as a commodity, and buy the lowest price. Authority builds credibility and believability. Authority puts you in a category of one.
Keeping customers and having them refer friends and family is paramount to business success. To do this, you must be a person of outstanding authority whose observations are accorded instant respect and advice is almost treated as a command. You must be a person customers are intrigued with, impressed by, and proud to talk about. This is Authority Marketing.
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