The Knowledge Economy

The Knowledge Economy

          Why does a lawyer earn more than a garbage collector? Because nearly everyone is capable of doing the garbage collector’s job, but the lawyer knows something most of us do not. So she makes more money.
          Why are accountants paid far more than the average person? Because they know something the average person does not.
          Knowledge is power and knowledge earns big bucks for those who have it in the new economy.
          I’ve heard it said that “sales is sales, and anyone who can sell, can sell spots”. That’s probably true. A lot of people can sell; from retail clerks to car sales people, and from insurance agents to Yellow Pages people.
Thousands upon thousands of people can sell.
          Advertisers today are bombarded with advertising sales people selling their commodities; from sellers of online directories, to web malls and banners, to traditional media and more. So selling ‘spots’ isn’t really worth all that much.
          The advertising salespeople that earn the most into the knowledge economy are those who can teach advertisers how to make strategic sense out of a fragmented and rapidly evolving digital media and, the traditional media mix.
          And of course to be able to teach, you have to have knowledge. Just as other paid professionals like doctors and lawyers invest time and money in knowledge, you have to invest time and money into your knowledge of the new media landscape to be more valuable than your competitors.
          I personally budget 20 days a year for attending courses and seminars, I read dozens of new media blogs each week, and read a minimum of one new business book a month. You need to establish your own learning planner to keep your marketable skills and knowledge ahead of the curve.
          Virtually all of your competitors who have had sales training and can sell.   
          Investing in strategic marketing knowledge not only gives you a strong competitive edge against those look-alike sellers, but that investment stays with you forever. Today, selling is teaching, and teaching is a skill unto itself.
          Want to learn how to turn your knowledge into more sales? Click here to inquire how our Guided Discovery Selling can help you teach your clients why you deserve a bigger piece of the pie. 
           
Randy’s What If:
What if the knowledge you bring to your clients added another 10% to their perceived value of your ‘spots’, or helped you close another 10% new business?