Today I want to talk about a Simple Formula for Monetizing Your Reputation as an Expert.Now maybe you’re a Coach, Consultant or Trainer, who has created a specific Program that you make available to clients through 1 on 1, private sessions, or speaking in front of a group.Or maybe you’re an Author, Blogger or Marketing Professional who’s written a book or posted articles online, and while that’s gained you a degree of exposure, you’re looking for ideas on how you can turn that material into more bottom line revenue for your business.Or maybe you’re Lawyer, CPA, Therapist, Fitness Instructor (or even Dog Trainer!), who has expertise that people pay you for, that you’d like to kick it up a notch, and get more clients coming through the door.Bottom Line: If you’re a Service Professional looking to grow and monetize your reputation as an expert, then you’ve come to the right spot, because I’m going to show you a real easy formula for better monetizing your reputation as an expert.
Benefit Driven Expertise X Marketing = More RevenueAll right, now let’s break that down. First, you’ll notice I use the term “benefit-driven expertise”.What does that mean?Well, as a Service Professional, people don’t want to just hear about your expertise, they want to hear how your expertise can benefit them. Or more concisely: People want to hear how your expertise can help them solve a problem or situation they’re currently facing.A lot of times I see experts going on and on about their service, their background and all the great things they can do for you, but never relate that back to a specific problem or challenge this potential client is facing. This puts the prospect in the position of having to figure out the benefit you provide all by themselves!You don’t want that.And besides, coming up with benefits is pretty easy. As a Marketing Coach, your benefit is helping people get more business. As a CPA, your benefit is helping people find legal tax loopholes to save money with Uncle Sam. As a Personal Injury Lawyer, your benefit is getting people fairly compensated for any injury they might have sustained.As you can see, benefits are super important when it comes to monetizing your reputation as an expert.Now the second part of the equation is the “Marketing” part. It’s not good enough to have Benefit Driven Expertise; you need to let others know about it! And that’s where the marketing comes in.Personally I like to simplify this a little bit by breaking “marketing” down into 7 specific sales funnels. Now we won’t get into all of them today, but as an example, you might have Networking / Word of Mouth Marketing as one sales funnel. Presentations & Events might be another one, while Content Marketing might be another.
What you need to do is figure out which 1 or 2 Sales & Marketing Funnels you’re going to use on a consistent basis, and start executing.And to be honest, that’s where I find a lot of Coaches, Consultants and Service Professionals falling down. They know they have some expertise and they know they need to market that expertise. But “marketing” can be such a big word, that people often times get overwhelmed into inactivity.Again, you don’t want to be that person.So choose a sales and marketing funnel that feels right for you, and start executing in that area. And when you feel like you’ve gotten really good (and consistent!) in that area, choose another one and start executing on that.So there you have it: Benefit Driven Expertise X Marketing = More Revenue for YOU!That sounds easy enough, right? So how about you get out there and start doing it today.