Being the firm to turn to in your local area is a position sought after by many, and is an invaluable position to be in. Here’s a few tips to help you better your business and earn that coveted title of local influencer. But before we break down what it takes, let’s start with a definition… 

What is a local influencer? Influencers are individuals or companies that have earned a loyal following due to their proven expertise and transparency. Influencers achieve their status because of the valuable information they share with their local community. 

Be visible - identify your network

A local influencer engages with their community. They identify the network they wish to be a part of - be that a community of fellow professionals or service providers. They have conversations with these individuals, attend events organised by members of this network, make deals with them, host a joint event or collaborate on a project. If you’re not out there making your presence known, you won’t be able to prove the value of your firm. 

Prove your value to the community 

Local influencers provide value to the community. Rather than ticking along with a general focus on ‘business as usual,’ a local influencer will give back and prove their value whenever the opportunity arises. A law firm might offer their services without charge for less fortunate individuals in the area or an IFA might offer a free financial audit for those who wouldn’t usually be able to afford their services. 

A local influencer attracts press attention for their value and builds relationships with local press outlets. That way, when a journalist wants a local angle on a particular development, they can come to you for comment. You’ll want to determine what sort of stories you want to be associated with and identify where your expertise will generate the most value for your firm. For example, a local mortgage broker will want to be associated with changing legislation in the field and the development of new mortgage options. 

There might be a housing development that’s often covered by the press that the broker can provide comment on. Further to this, you may even want to publish content detailing how any national developments might affect your local area. It’s all about getting your name out there and showing that you’re the one to call on for expert knowledge. 

Set yourself apart

A local influencer knows their market niche inside and out, while also identifying who the other influencers in their niche are. It may even be a matter of changing your firm’s approach. 

Business tycoon Elon Musk famously outlined the two styles to how firms approach a topic:

The first is the ‘analogy approach’, which involves learning from past events and behaviours. This is why, more often than not, you’ll see many firms in the same industry talking and promoting the same topics and ideas.

The second is the ‘first principles thinking’ approach. Instead of basing decisions on past successes and failures, this approach means firms make decisions based on the objective fundamentals of his business. What’s good about this approach is that it opens your firm up to new possibilities by ‘forcing’ you to disregard the status quo, and think differently.

What does this mean for you? Next time you’re thinking about how to promote yourself, don’t be afraid to be different and try something new. As long as it’s aligned to your business’s goals, it’s on the right track to success. 

Stay updated

One of the most important factors is to keep your ear to the ground. A local influencer stays on top of current affairs and developments within their local area. That way you can react quickly to new opportunities as they present themselves. Sign up to local newsletters, newspapers and attend community meetings when relevant. If you know what’s happening first, you can beat other local influencers to the punch and maximise your place in your community.

Yorkshire Building Society has worked together with a growth marketing agency, Clients First, to supply this content. We hope it helps you grow your core business and you have found it of interest. Please ensure that if you apply any of these tips to your YBS agency that you comply with the specific marketing guidelines which can be found in the YBS ‘Working Together’ Agency Operations Manual.