The Agency Record Blog

The Expert Economy

In economic down times, businesses have more and more to do to generate the same levels of revenue, with fewer and fewer resources allocated to those tasks. It’s no secret that marketing activities are usually one of the last areas to be affected, because marketing is (correctly) viewed as the one activity that can still have a bottom-line impact.

But not just any run-of-the-mill marketing activities. After all, marketing dollars have to be stretched too. The holy grail of recession marketing is figuring out how to separate the most expensive, least profitable prospects from the prospects who are eager and willing to do business today, perhaps even at a premium. So how does this happen?

Stand up and be the expert in your market.

It is generally accepted that recognized experts make more than others for the same basic work. It is also generally true that experts stay busier, with fewer recession-related dips in business.  With such compelling reasons to demonstrate your expertise, what steps can you take today to begin doing just that?  Here’s our list:

  1. Start Podcasting. A simple, sustainable, 5-minute podcast production every week with one central point that touches on your area of expertise; that seminal item that you get paid to know or do for your clients. Use the podcast as a teaser to demonstrate the many solid reasons your prospects should be calling you today.
  2. Release regular Video Tutorials that address the most painful problems your prospects face. If done artfully, the unspoken conclusion of these short, pointed video productions is that you are capable of providing the solution they desperately need.
  3. Create a Blog. If you do either or both of the items above, then you will be using a blog to do it, anyway.  A blog post twice a week builds a record of authority, both for human visitors and (perhaps even more importantly) for Google.
  4. Get your best customers to go on the record by testifying to the value of your expertise. A written testimonial, or better yet, a video testimonial can be a compelling badge of expertise.
  5. Begin Publicly Speaking. Anywhere. Anytime. In front of any audience with your market’s focus. This is a long-play strategy, however.  If you signed up today to speak for a group, it might be 5-6 months before the actual engagement.

Expertise is currency. And those that can demonstrate it to their market stand to reap rewards far greater than money alone.

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