02 Feb Three Strategies to Establish Your Expertise
In our previous article, “The Importance of Staying in Front of Prospects,” we covered Adam Ray’s thoughts on why it is essential to make it a top priority to establish yourself as an expert and stay in front of prospects. Ray initially participated in a BBP webinar, which can be accessed here. Let’s jump in and examine some of his key thoughts on how you can ensure that you stay in the thoughts of your potential clients month after month, and even year after year.
1. Adjust Your Branding to Reach Your Ideal Clients
If you focus on a given geographic area or industry, then it is in your best interest to tie your brand to that region or industry. In short, it is vital that your online brand reflects your area of expertise and focus. When prospects see you as a recognized expert, they are far more likely to turn to you when they need advice and help regarding the sale of their business.
2. Build Referral Sources
Ray noted that business brokers and M&A advisors should never overlook the power of referral prospects. ranging from financial advisors and accounts to lawyers. He recommends you take steps to build a scalable process for referral prospects, as this can be an extremely powerful way for you to increase your client base.
3. Take Advantage of Webinars and Newsletter
Ray stated, “As an intermediary, you have a real opportunity in the nurturing phase to differentiate yourself with your target prospects.” There are several key tools Ray strongly recommends.
One versatile tool is participating in webinars. Appearing on someone else’s webinar or creating your own provides for many outreach opportunities. If you have a webinar appearance you are promoting, or an educational webinar that you have created, this can serve as a point of communication and education. Prospects can be asked if they have questions that they would like to have answered during an upcoming webinar as well. The webinar can also be turned into online articles, which provides a secondary benefit.
Newsletters are another valuable tool you should consider using to build your business. Monthly newsletters are a relatively easy and straightforward way in which you can stay in front of both prospects as well as potential referral sources, such as accountants and lawyers. Newsletters and webinars both stand out as cost effective ways to remind prospects and other referrals that you are an expert in the field.
The old saying, “out of sight, out of mind,” applies to the business broker-business owner prospect. Business owners are typically very busy people that are being pulled in many directions. The majority of business owners don’t have an exit plan and may have not even given the idea serious consideration.
If you want to be the expert that a business owner turns to when it comes time to sell, then it is essential that you lay the groundwork. Create a system through which you establish yourself as the “go to” person to turn selling their business into a reality.