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Profitable Branding
Models
As branding becomes more integral to justifying
high fees in speaking and consulting, it’s time
to get strategic about your brand. Consistent clarity
about what you offer gives buyers confidence that you
can deliver what they want. How to make the right branding
decisions? Below are three of the most profitable branding
models for experts:
Leader of a Movement
What it is: A provocative point of view that focuses
on a solution or an idealized future. In this model,
a content-based platform is built communicating the
point of view through a variety of messages. Example:
Jim Collins with his “From Good to Great”
concept. This is the most popular option for many experts
due to having the shortest sales cycle with the least
risk.
Good for: Experts who want to go “an inch wide
and a mile deep” with a specific idea. Experts
who specialize in a particular industry or target market
(such as sales.) Experts with advocates who need a focal
point in order to justify hiring them.
Watch out for: Creating a “big fish in a small
pond” situation that can’t sustain growth.
Experts in this category need to make sure the solution
they advocate can be applied in a variety of ways so
fees can grow. Don’t focus on just one revenue
stream such as speaking. The content needs to drive
additional ways to interact with clients, such as subscription
services, online tools, advisory services, etc.
Thought
Leader
What it is: Very similar to Leader of a Movement. The
key difference is the focus on the way of thinking rather
than the "big idea." Content is more fluid.
Examples: Malcolm Gladwell (author of The Tipping Point)
and Thomas Freidman (author of The World is Flat.) Many
experts evolve into the Thought Leader brand after success
in the Leader of a Movement model.
Good for: Experts who don’t want to be constrained
by content. Experts who have a consistent way of thinking
that can move to unrelated topics.
Watch out for: Too generalized branding. Experts in
this category need a focal point such as a book or ongoing
media exposure such as a column to showcase their thinking.
Biggest failure here is to not consistently apply a
defined way of thinking. Result: Rebels without a cause.
Voice of a Demographic
What it is: An observational point of view directed
toward a specific group, either in similar situations
or like-minded. Example: Scott Adams, creator of Dilbert
cartoons or Rush Limbaugh, a political conservative
commentator.
Good for: Experts who already have ongoing media venues
(example: syndicated columnists.) Experts who have excellent
observational humor and want a wide berth on topics.
Experts who have a distinct style of communicating.
Watch out for: Long sales cycles. This model is the
riskiest and takes a lot of showcasing to get noticed.
Getting media on a consistent basis is key here and
if you don’t have that, then don’t try it.
Biggest obstacle is to monetize the community you create.
You have to be almost famous before making money in
this model.
The days are gone that decisions about branding can
be made by the seat of our pants. Choose your model
based on your strengths, your timeline and your marketing
expertise. Consistently apply the model and watch your
business thrive with opportunities.
Bios That Bring High-Fee
Business
What is the first thing buyers want to know about
you? Not your ideas – everyone has those. First,
buyers need to be convinced that you are competent by
learning more about your background and your credentials.
Reputation is everything and yet, many competent, talented
experts don’t get their fees. In a crowded marketplace,
packaging your expertise is the sparkplug that starts
the marketing engine.
Why many
bios don’t brand
Many experts depend on tenure to brand their background.
The bio will start with “For over 20 years, Billy
Bob has <insert fancy wordsmithing here.>”
The reality of the situation is that anyone can make
those claims and buyers know it. Hyperbole such as “premier
expert in” or “foremost authority in”
are seen as self-serving and have no power.
Newsflash: Everyone has longevity of some kind. Don’t
expect the fact that you’ve been successful for
more than ten years to be a determining factor. While
buyers don’t want to be guinea pigs, they also
know that there’s plenty of “grey hair”
in the market working for bottom dollars. So don’t
lead with tenure or broad claims that anyone can copy.
How buyers
define “different”
High-fee buyers are a jaded lot. They have seen it all,
heard it all, and don’t believe any of it. So
how do these folks know when they find an expert who
is truly different? High-fee buyers look for facts from
independent sources that can be checked out.
That’s why media coverage, awards, and prestigious
client lists make a difference. Buyers assume that if
you made the cut in other arenas, then you’re
worth a look. Bottom line: these folks are looking for
facts to help them decide if you are different than
low-cost alternatives. The more specific the facts,
the better. Example: “winner of Entrepreneur.com’s
Visionary of the Year award” is stronger than
“award-winning business owner.”
When buyers see your bio, you have a very narrow window
of opportunity. Show them that you know where the bodies
are buried and they will be willing to hear your ideas.
When your bio proves your competence, getting in the
door is a given.
Vickie's note: Want to see the tool that helps
me and my clients generate big bucks in ancillary revenue?
You can get your copy of my “Credibility Inventory™”
process in my Your
Position of Power program. Learn how to
maximize your background so high-fee buyers will see
your ideas as “different.” Be one of the
first 20 people to purchase this program and get my
one-on-one attention for free. It’s all a part
of my 20-year anniversary party – read more about
it here: http://www.sullivanspeaker.com/20thanniversary.htm
Harvard, here I come
(again!)
I’m thrilled to announce that just when the Ivy
Leaguers think they are safe … I’m back
by popular demand. <G> I just learned last week
that I am returning to help students at Harvard’s
Business School and the Kennedy School of Government
get ready for the real world with personal branding
strategies. Why did they invite me back? Because the
buzz from my appearance in October increased attendance
for the rest of the speakers in the Women in Business
lecture series. Lesson: when you open the door for others,
the door stays open for you too. I am deeply honored
(and humbled) by the students’ response. Helping
them create great things is truly my “heartwork.”
For this year, commit to something bigger than your
business. You’ll be surprised by what you get
in return.
Twenty years and
counting….
I just CAN NOT believe that twenty years of serving
experts have flown by. (Can I really be that old? Nah…)
YOU are the reason why I’ve stayed in this game
as long as I have – so let’s PAR-TAY! The
first twenty people who buy Your Position of Power (after
all, 2007 trends are all pointing to the need for a
strong brand) will get my feedback for free. That’s
right, one hour of me for free. Click
here for details.
I have a great background
in the wellness arena and want to break into the speaking
market. Given that health care costs are skyrocketing,
I believe the corporate market will pay me big bucks to
help them save money. Any ideas on how to break in?
A: The wellness market
is a great example of what’s happening in other
areas of the corporate market. Once a “mission-critical”
issue has been identified by the industry media, there’s
a dog-pile of experts pitching their solutions. Some
get their foot in the door, only to find out that a
larger company is offering the same kind of information
as value-add for a larger implementation contract. (For
those who don’t know industry jargon, value-add
means free or almost free.) Financial education and
other “development” experts are facing the
same challenge.
How to get around this dilemma? It’s all about
packaging your content. Anything basic is already covered.
So what do you offer that is different? Here are two
approaches: 1) get known first either through building
an internet community or media, then approach the market
as a well-known thought-leader or 2) turn your content
into tools the buyers can distribute to their employees.
You speak at their conferences as the luncheon speaker
and the creator of those tools, reinforcing why they
are important.
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