The Expert Economy – Why expert recognition will grow your bottom line. The first of 12 modules will focus on the theory behind why expert recognition is so important. Starting with module 2 we will get into the strategies, tactics, and specific tools to use in order to earn expert recognition and grow your bottom line.
The World is changing in 2011. &quot;It used to be that backlinked sites had some kind of authority. It was some kind of a signal that there was value in what you were doing, the world is changing in such a way that authority on the web is being expressed in a new way: people are the new authority.“ - Saad Khan , Partner at CMEA Capital Google and Bing used to focus primarily on links, but as Saad Khan pointed out links are being replaced by people.
So from 2000 to 2010 Google was King right? Bing and Yahoo and other search engines really dominated the content market. How do people find content? Google, Bing, Yahoo. That was it until maybe 2008. Facebook and Twitter started to influence how people found content in a large way. Before 2008, the major search engines didn’t care what was going on in the “social media” realm because Facebook and Twitter were just on a different level entirely. Everything was still all about Page Rank. So how many links point to your website? Are the links coming from other relevant and like minded websites? Are the links coming from other authoritative websites? These are the questions that determined your influence, expertise and authority on the web. The last couple years have brought some major changes. There is no doubt that the Search Engines are still king. Google is still king, and I am not suggesting that Google will lose its top position any time soon. The major change is that Google and Bing are now considering elements other than links. A simple “like” on Facebook now plays into search results. But it is not simply, whoever can get the most Facebook likes wins. The number of people, the influence of each person, and the relevance of each person now make a difference. I like examples so take a look at this example.
If I “Facebook like” a Nike football, who cares??? I am a nobody. I played football in Middle School, but I have very little influence in the football industry. If Peyton Manning Likes KFC Chicken some people would care because Peyton is one of the best QBs of all time. So even though Peyton has nothing to do with KFC just like I have nothing to do with a Nike Football Peyton’s KFC Facebook like would mean a lot more because of his general influence. BUT… if Peyton Manning Liked a Nike Football now everyone is listening. Peyton is highly influential when it comes to Football so this recommendation holds a lot more sway because Peyton is both authoritative and the topic is relevant. Can you see how this is taking the place of a website link in the past? This might be equivalent to Microsoft linking to your new computer manufacturing company. So this gives you an idea how search engines are now looking at your personal level of influence when determining search results. But there is also a key difference between general influence and influence on the web. And ultimately that is what we are talking about right? How to influence people on the web? So let’s look at Klout.com
Klout is an interesting new company that is attempting to score influence on the web. They measures dozens of different indicators to provide you with a Klout Score. Here are just a few of the questions: Are people adding you to lists and are those lists being followed? Are you broadcasting or participating in conversations? How likely are you to be retweeted? How influential are the people who @ message you? How influential are the people who retweet you? How influential are the people who follow you? How influential are the people who follow the lists you are on? Lets look at a quick example of a Klout Score now.
Here we can look at the Klout Score for two very different, very influential individuals. First we have Justin Bieber. Justin has a Klout Score of 100. Why? Because Justin influences others to take action on the web. Bieber has more youtube video views than any other single individual ever! When Justin tweets people listen. Ultimately this influence turns into sales. Concert ticket sales, itunes sales, cd sales, tshirt sales, etc, etc, etc. Next we have Warren Buffet. Warren is the most famous investor of all time. He has been firmly planted in the top 5 richest people in the world for several years. When Warren speaks people should listen. But do they? How much influence does he have on the web? Buffet’s Klout score is only 36. Wow! I am not saying that Justin Bieber is more influential than Warren Buffet, but I think this Klout Score shows how the world is changing. Warren Buffet doesn’t need to tweet or create youtbue videos but this example clearly depicts how influence on the web is different than influence in general….
Now lets bring all of this high level theory about influence and expertise on the web down to earth. How does the expert economy impact your business? Let’s take this example. Pretend that you own a salon and you really need some help marketing your salon. It just so happens that your Salon is just down the road from SwitchFast. SwitchFast is an established business that offers a host of services from IT support to Web Design to Marketing Services. So you meet with a rep from SwitchFast and they say, “we will build you a custom website, we will help you be found on Google and we will implement a social media strategy for your salon.”
Then you stumble across TheSalonMarketer. Although they are located 2,000 miles away from you, you still decide to work with them because they appear to be experts in the Salon Marketing business. When it comes down to it TheSalonMarketer may do the exact same thing as SwitchFast. They will build you a custom website, help you be found on Google and integrate a social media strategy. So what is the lesson? By simply establishing yourself as an expert in a narrow niche market you can open up new opportunities. Now you might be concerned because you fear that any one niche is too narrow. You don’t want to only provide marketing solutions to Salons. Well you are in luck. I know as a matter of fact that the gentleman behind TheSalonMarketer is also developing a website specifically tailored to Restaurant Marketing. Is it starting to become clear? In 2011, the experts win, but the beauty of it is that you can establish yourself as an expert in just about any market. So start to think about the markets you are currently in and how you can differentiate yourself. In the next module we will take a close look at how to determine a profitable niche market. There are some great tools that I use, and I am excited to help you discover how to use
How to Become an Expert - Grow Your Business
The Expert Economy Why Expert Recognition Will Grow Your Bottom Line Presented By: Adam Hoeksema
"It used to be that backlinked sites had some kind of authority. It was some kind of a signal that there was value in what you were doing, the world is changing in such a way that authority on the web is being expressed in a new way: people are the new authority.“ - Saad Khan , Partner at CMEA Capital The World is Changing…
The Web is Moving Toward an Expert Economy 2010+ PeopleRank 2000 – 2010 PageRank
Are people adding you to lists and are those lists being followed? Are you broadcasting or participating in conversations? How likely are you to be retweeted? How influential are the people who @ message you? How influential are the people who retweet you? How influential are the people who follow you? How influential are the people who follow the lists you are on?