Fill a need, don’t create one. If you’re in a gold rush don’t sell gold, sell shovels.
If the barrier to entry in your industry is really low, it’s harder to stand out.
The three major markets that will always be in demand are health, wealth, and relationships. That doesn’t mean your startup won’t be successful if it’s not in one of those three areas explicitly. Chances are, you can map the benefits of your product or service into one of those three areas.
In Q Creative Academy, we laser focus on ONE specific offer, and market it to a very specific audience.
With your ideal target audience in mind, answer these questions:
- What sorts of problems can I solve for my clients?
- How do these problems manifest (or reveal themselves) in their day to day lives?
- Why is this problem a problem for my clients? Why do they even care?
- What is it that makes my clients decide to reach out for help, or look for a solution?
- What does a “magic wand solution” look like for my clients?
What motivates your target audience and why?
Before we define the needs your service or product will effectively address, it’s helpful to understand the four basic needs of humans:
- Desire to possess and collect things
- Need to connect with others and feel loved
- Learning and satisfy curiosity
- Defend ourselves or family, project
Try to be in control of the aspects of your business venture as possible, relying on the least amount of outside platforms. If you build your business entirely on YouTube and they pull the plug, you lose it all. You never want all your eggs in someone else’s basket.
Think of having the ability to grow your company with minimal human intervention so you can scale if that’s your goal or so that you are not always bogged down with work that only you can do.
You can always get more money, but you can’t get more time. Once your time has been spent, you can never get it back. Your ultimate goal is to free yourself from the day to day repetitive tasks.
What you need to understand about your target market before you create your strongest offer is
- WHERE they’re stuck (their problems)
- HOW those problems look and feel, in their day to day lives
- WHAT they want (their desires and goals)
- WHY they want what they want
- any reasons WHY they might decide to NOT work with you, buy from you, or say yes to your offer.
But where do you get these insights if you’ve yet to make your first sale?
Traditional approaches recommend surveying potential clients to find these answers but people hate surveys. I know I do.
Besides, chances are your target market has provided, in detail, all you need to know to understand what they want. And more importantly, what they don’t want, relative to your niche service.
There’s a free and fast shortcut to find authentic responses that will help you clarify your offering and write effective copy to market it. Find the answers from online reviews.
When you’re starting a new venture and don’t have actual customers to survey, Amazon book reviews and blog posts are the easiest places to start to understand your target audience and market and how best to communicate with them.
Begin by finding a product or a book written about your product or service and read the reviews on Amazon or GoodReads.
First of all, if a book has been written on the topic of your product or service to your target audience and people have bought it, you can be sure that you’ve tapped into a problem people are willing to spend money on to solve.
Copy and paste the reviews that others most engaged with (likes and comments) into a spreadsheet or document.
Look for: memorable phrases they use, what their “pain points” are. Try to understand the emotion behind their words and use it to write compelling copy.
Take 2- 3 hours to complete this and you’ll have valuable insights about your target market.