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#SellLikeCrazy - Siri 1 The Larger Market Formula
Tuesday, 15 December 2020
#BedahBuku #SellLikeCrazy #SLC
The Larger Market Formula
- The larger market formula breaks down the entire audience of buyer in any market into 4 key categories
- The top 3% - in buying mood. Yet, your competitors are going hard after this top 3%. The top 3% splited among you and other competitors, you'll never going to make much money. E.g. I'm thirsty now
- The real money falls under 37% (those in gathering info mode and problem aware, 17% + 20%). E.g. I'm kindda thirsty. What should I drink?
- Or even the bottom 60%
- Your goal is to move the 97% of potential customer up the pyramid faster
Convert Prospect from 'Just Looking' to 'Shut Up and Take My Money'
- When prospect isn't informed @knowledgeable yet, they are in a state of uncertainty
- People don't buy in uncertainty state
- To convert the 97%, your job is to educate them, make them hit the 'buy now' stage, and close the deal
- By doing this, you are not chasing the client, instead, they are putting their hands up and requesting to speak to you
- The key is to install a system that:
- Attracts
- Educates
- Nurtures
- Get prospects to act!
- This system - not you - are doing the grunt work in educating prospects, following them up, and delivering content that educates.
- And when they reach out to you, you will know they are predisposed, pre-qualified, ready, willing and able to do business with you. They are virtually 99% ready to buy
Here's What You Need To Do
- Educate your prospect so that they know more about the problem of solving their problem (and empowered to make a better buying decision) - use HVCO
- Turn your best sales pitch or even FAQ into assets that nurture prospects on autopilot - Do this using the Magic Lantern Technique
- Position your solution as the obvious choice
- Make your 'cooked' prospects an irresistible offer using The Godfather Strategy
- Reach your customers before they even they know they're ready to buy (and before your competitors have the chance!) - use Sales Funnel
The Halo Strategy: Know Your Customer.. intimately!
- Basic starting point is - understand who they are
- You must go deeper. Much deeperT for your message to stand out from the crowd and win your prospects
- Uncover their deepest and most primal desires
- Delve into their FEAR, HOPES, WISHES and DREAMS
- Identidy your 'dream buyer' using Pareto's principle of the 80/20 rule
- 20% customer represent 80% our revenue. But within the 20%, the 80/20 rule also applies (top 20% of the top 20% customer @4% represent 64% of our sales)
- Laser in on the 4% of your customer who contribute to 64% revenues and find more customers like them - is called Power 4%
- Identify your Power 4%. Learn all about them - not only name, age, gender, location, education level, what product they enquired about and hoe they found you
- Read their mind - get obsessed with their PASSIONS, DREAMS, PAINS, FEARS and DESIRES
- Think about 1-2 major keywords and search terms people use to search your products using Google, popular blogs, Facebook Group/Pages/Timeline comments, forum, YouTube comment section, marketplace reviews or socmed platform - places where your customer s hang out and congregates
- Look at whay they are saying and feeling. Look at their concerns and questions. Any themes? Language they use
- Then organize your findings into categories that appesr most
- Find the gaps in the product already out there - this gap is ylur winning ticket to tap into customers minds and hearts
- AnswerthePublic.com - a tool
Creating Your Dream Avatar
- The purpose of going after your dream buyer avatar is to focus your message and marketing budget
Nine (9) Questions Yo Define Your Dream Avatar
Kepimpinan - Tanggungjawab sebagai Sponsor
Saturday, 27 June 2020
Checklist for Business Partner Selection
Saturday, 27 July 2019
Applicable for VC investing or valuing businesses too
A strong core team – founder is credible to lead the company and attract world-class talent
Good Market Opportunity – technology-based (have competitive edges and rapid growth
Technology – that makes them are so great
Competitive edge – that sustain over several years at least
A Detail Financial Projection – it shows their understanding of what they are doing, and their story in number. Should tally with #1
Validation of credibility and capability – in every critical thing like customers, cash flow, lawsuit and etc
Reference: The Little Book of Venture Capital Investing – Empowering Economic Growth and Investment Portfolio, Louis C. Gerken (Page 173 – 175)
And of course the standard or the level of all the above-said is depend how sexy your company are – both in real world and your potential partner’s perspective – Nur Aziate :*
but, in real life, this selection can be so personal and can be influenced by emotion, guts, relationship, belief
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