At How to Build a Brand, we talk often about the branding lengths you can take to establish yourself as an expert in your field. We also talk about how crucial it is that you take the time to build your expert status. Today, I’m talking specifically about all the benefits you’ll enjoy when you establish yourself as an industry expert.
Why you Need Expert-Status Branding
Miles, my business partner at How to Build a Brand, is continually driving home the fact that in order for branding to be effective, you must build trust and establish yourself as an expert in your field. Once those things are in place, the sky is the limit.
That got me thinking…
Once your ideal clients and target audience start to recognise you as an expert, what benefits can you look forward to? What will the fruits of your branding labours be? The list is virtually endless, but here are a few expert-status benefits that I thought might pique your interest:
- It’s much easier and more cost-effective to keep existing clients than it is to seek out and win over new ones. An expert status, built through intelligent branding, is not something that only applies to new conversions. Your current clients will perceive your expert status as well, will want to be associated with your brand because of it, and will be highly likely to stay on, as loyal brand advocates.
- A cheap price is far less important than overall value to the average consumer. Difficult economic times have forced people to hold on tightly to their money – but they’re not spending less on individual items and services, they’re simply doing their homework and deciding which products and services are most worth the money spent to purchase them. For this reason, an expert status will allow you to charge premium prices for the brand. In fact, a premium price may even help to convince people that you are an expert and that your brand is the best.
- We all love referrals. When you have proven yourself to be an expert through targeted and effective branding – as well as through the delivering of a high-quality product or service – then other professionals will jump at the chance to refer your brand. Great brands want to be associated with other great brands, and when you’re viewed as an expert, you’ll be a part of that circle.
- When you have established yourself as an expert, you will spend less money on marketing. Why? Because your reputation will precede you. You will enjoy all the benefits of word-of-mouth advertising. Everyone loves to be associated with an expert, and will gladly share news and stories about your brand with their friends.
Establishing yourself as an expert is one of the first, and most crucial, steps in the branding process. Once in place, it’s a beautiful thing.
Need help accomplishing this through social media marketing, online marketing, experiential marketing, and other branding methods? Subscribe to Brand Brain magazine, like The Brand Brains Facebook page, or contact us for more information.
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