Turning Your Pennies into Dollars
I am always reading the latest research about marketing, and during my content consumption phase, I hear this a lot, and I know you do too:
“In order to successfully engage and win the trust of your current and future customers, you have to continue to give VALUE. And the more value you give, the more trust you’ll earn.”
Okay, awesome!! But…what does it really mean? How do I know what’s valuable to my audience?
In his newest book Superfans, Pat Flynn paints a great picture of what VALUE is and how to provide it for your clients. He describes a conference where a speaker asked the audience if they saw a penny on the street, would they pick it up? Most people will keep walking…not worth their time. Then he asked, what about a quarter? About 50% of people raised their hands to say yes, they would stop. Finally, he asked, how many of you would pick up a dollar bill? At that point, most of the crowd raised their hands. In this example, all three levels of currency offered value, but the value of a dollar bill passed the threshold from “not worth my time” to “ok, I’ll stop.”
So, the next question is: how do I offer something that my audience will see as worth their time? How do we create the dollar bill level content that someone will stop for?
Here are 3 ideas to help you become a more valuable and trustworthy authority in your field.
1. Know your audience. I know, I know, you’ve heard this before….but really, KNOW WHO THEY ARE. What do they love? What do they hate? What are they good at? What are they bad at? Know their problems, know their frustrations, know their pain. And you know what you get to do? Help them out of their problems, help them out of their frustrations and help them out of their pain. How? Offer unique insights, tips, data, solutions and even inspiration.
I’ve been playing golf for a long time. I played competitively as a Junior and still keep a pretty low handicap (meaning, I am a pretty decent player…lol). However, I play with a lot of weekend golfers who are always frustrated at the game because they don’t improve. Why don’t they improve? Because they are weekend golfers – they never practice, but they all think they just need a magic cure. Knowing this inside information, I decided to start a podcast specifically for these weekend golfers and offer insights, tips, data, and solutions on improving their game by….inspiring them to practice. If you ever want to check it out, the podcast is called Better Golf Academy. I still get random fan emails saying how much I have helped their game.
2. Know your expertise. What does that mean? It means that whatever industry you are in, you are an expert whether you like it or not. You have unique insight that no one else has. You might not know it because it’s just part of your everyday life and you’ve been doing it forever so you take it for granted…but what you know and what you do is unique to a lot of people and they are dying to know what you know. Dive deep into the knowledge that seems so obvious to you, then share your journey and your findings.
Ever since I started camping, I’ve been researching a lot of camping gear. One of the essential needs when you are off the grid for 3-4 days is a reliable refrigerator, and in order to keep your refrigerator running 24/7, you need a good source of power. Well, how about a power unit that runs off of solar? Not knowing anything about this, I started my research and ran across a guy named Will Prowse. He’s a guru in his niche of off-grid solar power and I’ve learned so much from him. I trusted his expertise and ended up purchasing his recommended power unit. It’s exactly what we needed and for me and his other 472k followers, we find him and his content more than valuable.
3. Know your platform. In the golf example above, I chose a podcast as the way to get my information out to an audience. Why a podcast? It’s something I enjoy doing. Also, it’s less time consuming than a YouTube channel – video editing can be very tedious and tiring and I didn’t have a lot of energy for it. Editing audio for a podcast is more simple and something I feel like I could do consistently for a long time. Some of us think now that we have something to share, we need to use all platforms and channels to broadcast our content, but this can be overwhelming. Find one channel that fits who you are and that also provides an opportunity to reach the like-minded people that consume content on the same channel. Give it all you got and watch your audience grow.
I hope this helps get your creative juices flowing for how to strategize, create and broadcast your content. Don’t underestimate what you know – you really do have dollars in you that will stop customers in their tracks.