Networking was highlighted as a powerful, free and low-skilled tool for building a business. In fact, professionals such as lawyers, CPAs, and financial advisors learn that one-on-one relationships are the only way to grow their practice. This isn’t just bad advice, it’s a death sentence for anyone looking to build a real Business.
Networking offers no marketing leverage, and while the professional or entrepreneur is busy doing the day-to-day work, their customer attraction efforts remain stagnant.
Dave Lorenzo, author and sales expert, with over 30 years of experience in relationship selling, teaches clients that a more strategic approach is essential to create powerful and profitable business relationships.
Lorenzo believes there is a better way to grow a business while maximizing your time, talent and expertise. He bases his approach to networking on a leadership model known as “thought leadership”. Thought leadership is the ability to share your expertise across multiple forms of media and this has become the foundation of Lorenzo’s approach to business development.
“If you want to dominate in your industry, you have to think of yourself as a media,” Lorenzo said.
Lorenzo currently uses several forms of media in his business plan. He posts several videos every day on YouTube, hosts a Podcast called The Inside BS Show with Dave Lorenzo. Lorenzo also uploads unique videos using the IGTV feature on Instagram to regularly engage with his target audience.
Lorenzo is also the award-winning author of three business books – because, as he puts it, “The best business leaders read more than everyone else. If you want to stay at the forefront with them, you have to be a published author.
Lorenzo’s greatest fear is something that many professionals can relate to; he doesn’t want to be “the best expert no one has ever heard of”. Networking can make you famous to dozens of people. Lorenzo believes that a thought leadership strategy will make you famous to thousands of people – quickly.
As a consultant, coach and sales expert in the industry, Lorenzo encourages his wide variety of clients to use his thought leadership-based methods to market themselves. According to Lorenzo, the thought leadership process begins with finding and researching a target audience. Individuals can start researching their target audience by checking out analytics tools like Google or social media analytics, and analyzing their current market as well as their competition.
Lorenzo also suggests identifying where a desired target audience can gather in groups and what they read to stay on top of industry news. For example, if an individual or business wants to target Gen Z members, they will often start by creating visual and interactive social media platforms such as TikTok or Instagram. Because the COVID-19 pandemic has severely limited social interactions, younger generations have turned to social media to stay connected and informed.
Lorenzo’s next step would be to create content that then solves the problems of the target audience.
Creating content may seem simple in today’s digital age, but it’s the part of the process that requires the most research and obsessive attention to detail. After all, that content will serve as an individual’s message or mission that they are trying to sell to the target audience. Once the content is created, the final step would be to distribute that content in the three forms of media, mentioned above.
An intellectual property lawyer, for example, would write an article on the value of a brand, as well as a video on licensing a brand as an ongoing source of income. Additionally, the lawyer could direct a podcast episode devoted to the interview of a client who sold his business and made a considerable profit from that client’s ownership of valuable trademarks.
Therefore, the target audience is exposed to the lawyer’s call to action: “Call me when you want an additional source of income from your IP portfolio”. Ultimately, the lawyer’s call to action aired on three different media platforms.
Although it is a frequently overused term, thought leadership has been the key to properly establishing an individual as an expert in their field in the digital age of society. Dave Lorenzo has spent the past three decades in his industry using the thought leadership strategy as a more effective and improved approach to networking.
For more information on Dave Lorenzo, his coaching services, educational videos, podcast and more, visit his website https://davelorenzo.com.
Posted on September 17, 2021