Why You’re Losing The Sale
Let me give you a hint.
It’s not because you charge too much.
And it’s not because you haven’t done in any work in that particular industry…
It’s because you’re not an authority
We buy things from people we trust.
Which begs the question, where does trust come from?
Trust comes from two places.
If your prospects truly trust you they will buy from you.
Trust from experience
This is the kind of trust you gain with others after knowing them for a while, or working with them.
Over time, people get a feel for you and what you are capable of.
In a professional environment, it’s providing your worth and putting your money where your mouth is.
Trust from experience can also be earned in other ways like:
- Implied trust (parents, friends of family who it is implied we trust because we know them).
- Age (as we age, we are supposed to accumulate more knowledge and life lessons).
- Accolades (awards, books, speaking events).
If you want someone to trust you, you need to earn that trust.
Once you’ve earned the trust of your prospects, the door is open for you to sell to them (if they have a need).
Trust from authority
An example of trust from authority is the doctor in a white coat.
This white coat implies authority, which begets trust.
The doctor is in charge and has authority in the realm of medicine and care.
Your prospects want to buy from an authority.
For them, the discussion is not generally about price or having done identical work in the same industry.
There will be exceptions, but these generally won’t be good customers anyway.
How to win the sale through authority
You’re losing the sale because you aren’t considered an authority in your field.
When it comes down to it, there’s nothing new under the sun. Most companies charge similar prices and have similar offerings.
What sets them apart is their authority or secret sauce.
You either need to offer something different or be an authority (ideally a combination of both).
If you are known as the go to guy or gal for your niche, you’re halfway there.
Gary V is a classic example of this.
Regardless of what you think of Gary and his teachings, he has absolutely cornered the market on motivation and personal growth for wannabee and aspiring entrepreneurs.
Do you think any other personal growth coach in this field is going to be able to compete with Gary V if it came down to it?
Gary V could charge 10x as much and people would willingly pay it.
This is because he has cultivated himself as the the go to authority in his field through social media, valuable content, publishing books, speaking gigs — you name it.
How to build authority
Building authority isn’t actually all that difficult.
All it takes is persistent effort.
Small gains, every day, over months and years.
There are some things you can do accelerate the process, depending on how hard you want to work and how much time and money you want to invest like:
- Recording long YouTube videos
- Comprehensive guides
- Publishing a book
If everyone in your field is doing one thing, try doing the opposite.
If you’re seeing an abundance of videos or guides, try publishing a book.