If you haven't watched our teaching on "The Larger Market Formula," you definitely should (and you can do so for free if you subscribe to our emails). In it, we break down how members of your TAM are at different points in their buyer journey, meaning that you need a holistic system to impact them and move them toward becoming a "buyer."
To figure out the best way forward, we need to know who you are and who you are hoping to be in the eyes of your prospective buyer or client. This is where our unique brand exercise comes in. This is a deep dive into your company, giving us a foundation on which to base all future decisions. It functions like a gutter guard at a bowling alley. We know the mind of an entrepreneur, and with so many "amazing" ideas rolling at the same time down the alley, we need something that keeps us focused and grounded toward a "strike."
There is an important point here that many business owners should be aware of: While the brand should communicate a specific message and make an excellent first impression, branding is NOT a brand. Instead, think of "brand" as a bottle holding the trust of your TAM. The more trust that you have, the more authority your brand has. Therefore, without distribution, you don't have a brand. All you have is branding.
So our brand exercise is more than just a guide for logo design or font. It lays out goals and a map forward as you work towards building brand authority and helps us understand your company and what you have in mind for the future.
Now that we have figured out who YOU are, the more important question is who your target market is. Without an intimate knowledge of your market, all growth strategies become a guessing game. And guessing games are a waste of money. This is why we build an "Avatar Profile." This is an in-depth build of your optimal customer. It considers everything. Gender, age, income, likes/dislikes, who they talk to, how they talk, thinking patterns…EVERYTHING. This must be thorough because it doesn't matter if we write ad copy that we like. It doesn't matter if you have a slick website and shoot cool videos. Everything needs to be optimized toward your avatar. When this profile is dialled in, it can lead to insane sales and profits for your business. This sort of exercise will see a payoff down the line when you don't just have a high "Click Through Rate" (CTR) on your ads, but a high "Return On Ad Spend," meaning that you're not just gaining attention, but you will see attention turn to revenue.
Our email subscribers who watched our free training would know that a SMALL fraction of your TAM is ready to buy now. Even though this is a small fraction, they are the easiest to sell to, so we need to optimize all your inbound marketing channels (how people find you). We don't just want a website at the top of the search engine results; we want one that converts web traffic into revenue. This is where we will start looking at all your current distribution lines and make sure that we are using the right tools in the right ways for the right group within your TAM. We want an optimized inbound marketing flow that will play a massive role in your more extensive selling system. As we funnel cold traffic and warm them up to buyers, this inbound marketing sub-system will ultimately help ACTUATE sales and keep your ROI as high as possible with all other efforts.
We will then address the information-gathering stage of your avatar's journey. As our free training video states, the stage before a prospect turns into a buyer is an all-out search for knowledge. Again what and how we choose to EDUCATE and then FACILITATE that learning process is all contained inside our previous "avatar profile." This is why it is essential to do thorough research in step two. We will KNOW the questions they are asking and be able to meet them at that intellectual intersection inside their minds. NO GUESSING. This practice also builds a level of trust. As you speak the language of your avatar, a loyalty is growing that will quickly propel you to the "please, take my money" stage.
We have addressed roughly 40% of your TAM. The remaining 60% of your target market resides in a cold traffic stage called "not problem aware." In this stage, prospects need to be drawn in because their product or service needs to be added to their radar. Therefore, we must CAPTIVATE their attention and propel them toward their "information-gathering stage.
And this is where the selling system shines. As you are reaching out and ATTRACTING cold traffic, All the work done through all our previous steps then warms your leads as it EDUCATES the problem - and your solution to their pain point, and then FACILITATES the information-gathering stage. At this point, a loyal bond to your brand has been born, and the only thing left to do is ACTUATE the sale and get the conversion.
“My business has taken off and has doubled from last year to this year, all thanks to Boniface Business Solutions, with the integrity and hard work they've put in towards my business. I'm so thankful for Jeremy and his team. He's diligent in what he does and always comes through.”
Side note: You might ask yourself, "What is the difference between this and a funnel?" And that is a great question. A funnel typically uses one or two tools to build trust with cold and middle traffic, but the danger here is that tools are constantly changing. So a more holistic approach to a greater "selling system" is the answer. For example, understanding how to utilize and connect your email marketing with your organic social media reach, your youtube ads, your Google ads, your website homepage, etc. That way, if one tool changes, we have diversified our acquisition streams, all working together under one strategy and one system. All are profitable because there is an intimate understanding of your TAM and a goal and strategy guiding the decisions from the start.