Are you a market expert in your industry?

Instant access to information is a double edged sword.  There is so much information available that it can be difficult for your customers to weed through it all and find you. 

One way to help your customers cut through the noise is to become an industry expert. Is your business viewed as a commodity? 

If so, becoming an industry expert will increase your value in the marketplace and add to your unique selling proposition.  Be the first call your customers make.
Here are 3 tips to help turn you into the market expert

1. Create a Personal Brand Identity - We all have a story to tell. What’s your story? Why did your choose the industry you are in? What challenges did you face while creating your business? How does your story (your past experience) help you to be a problem solver for your clients? Let people know what you stand for?  Are you an advocate for your industry? Using stories to relate your business vision and mission will inspire trust in your prospects, reassure clients and improve you image in your market
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2. Study your market - Get to know your direct and indirect competitors. Know what they do, where they are and how to contact them. Let’s say you own Tennis Town. You have the widest selection of tennis rackets in 3 states and your service is the best in the business. Fantastic. Now, one of your good customer calls asking for a badminton racket and they need it today. You do not have it and cannot get it that quickly. What if the conversation did not end there? What if you could give them the name of the closest badminton store, maybe even their number? Not only have you solved a problem for your customer, they will tell their friends how much you helped. Demonstrate that you want to get your clients what they need even if it means sending them elsewhere for something you do not offer.
   
3. Brand your process - Your USP (unique selling proposition) is what sets you apart from your competition. Creating your USP is only the first step. You must be able to communicate it in a way that your prospects and clients understand. Identify the steps in how you serve your clients, then explain each step and develop a “brand name” for the process. This will ensure that your customer base understands what you have to offer and how it can help them. Developing your own proprietary phraseology to explain your process adds to your branding power. 

Becoming the market expert does not happen overnight. Take the time to fully develop your personal brand identity, study your market and brand your process. Create a plan to introduce your USP into the marketplace. 

You will know you are on the right track when customers begin conversations with,” I don’t know if you can help me but, I thought of you first.” 

Remember, nothing happens until you take action!

As an ActionCOACH, I advise business owners on how to increase profits and cash flow, work less hours, and develop their team.  In other words,  to get their business working so they don’t have to. We coach you to create a commercial profitable enterprise that works without you. For some business owners that might be hard to believe. To help them understand the process we have developed ActionCOACH’s “6 Steps to a More Profitable Business”. Breaking our coaching process down into six-steps makes it easier to understand and implement.
Schedule an appointment now.

Wishing you much success!
Coach Steve