It is no secret that your clients are awash with alternative options everyday. At their fingertips are thousands of options across all professional services areas. As a result, many professionals defer to cutting their prices in order to attract business. After all, being the cheapest option in town IS a differentiating factor. Unfortunately, it is also a self-defeating and easily replicated strategy. Other individuals point to their awards and accolades to differentiate themselves; however, these are also a double-edged sword. After all, once an award reaches the scale of being recognizable to your clients, how many of your competitors are also listed? I would hazard a guess to say a vast majority of them.
So how does one differentiate themselves in today’s world of consumers that are becoming increasingly numb to traditional advertising? Small, local businesses like restaurants, trade workers, and caregivers often turn to online review sources, prompting their best clients to thank them by leaving a review on Yelp or Angie’s List. For highly skilled professionals, the game changes a bit. Referrals, a topic for another time, are best made in a targeted and intimate manner.
The answer instead is to develop your reputation from being a professional into being a Thought Leader. If you can prove to your clients, prospects, and community that you are a leader in your field, even if it is just in your area, than you create greater stickiness and open the door for additional business development. But what is a Thought Leader?
Put bluntly, a Thought Leader is the go-to person in their field. Developing and implementing a strong thought leadership strategy can help keep your name at the front of your prospects mind. When they come across a topic that you specialize in, you want them to know that you are the BEST choice because you are a LEADER in that space. Once established, thought leadership is very hard to replicate in any given market, making it a great deal more compelling than cutting your prices.
It is also pervasive. If someone is looking for written content, a speaker at an event, or a consultation, your phone will be the first one that rings, leading to free and compelling marketing.
Contact Navy Blue Consulting to learn how developing a Thought Leadership plan can help your business grow.