Dan Martell - The Audience Triangle

00:00:01.000 The audience.

00:00:03.000 The audience triangle.

00:00:08.000 Forgot to turn off my phone.

00:00:17.000 How to get over the frustration of customers not buying.

00:00:20.000 You might be running ads on Facebook and you're like,

00:00:22.000 why aren't more people interested in this?

00:00:24.000 Or you've ran ads in your local newspaper

00:00:26.000 or did a bunch of social media

00:00:28.000 and you get a lot of subscribers but you're like,

00:00:30.300 where are all the customers?

00:00:31.500 I'm gonna share with you guys the audience triangle

00:00:33.840 because you need to understand that out of 100 people,

00:00:36.400 there's only a certain percent of people

00:00:38.520 that are ready to buy today and then there's other people

00:00:41.280 in the different stages that could be brought up to purchase

00:00:44.980 and there's a very important tip that I'm gonna share with you

00:00:47.660 at the end of it on how to do your marketing the right way

00:00:49.960 to be able to harvest those people

00:00:51.920 out of your potential audience.

00:00:54.100 Now, I know this struggle firsthand

00:00:56.700 because when I was building my company Clarity,

00:00:58.060 we were a marketplace for entrepreneurs

00:00:59.500 to get advice over the phone.

00:01:00.940 And the truth was is nobody came to our site

00:01:03.240 because they were having a great day.

00:01:04.980 You know, usually our slogan was we help entrepreneurs

00:01:07.040 get unstuck by getting them on the phone

00:01:09.220 with an expert that has the experience.

00:01:11.540 And some people just signed up to check it out

00:01:13.580 and to see what was it about and just get their profile set up

00:01:16.120 but they weren't ready to buy today.

00:01:17.720 So we leverage education-based marketing.

00:01:20.920 If you've seen companies, blog, social media, clips,

00:01:24.760 video clips, this video on YouTube.

00:01:27.520 This is education-based marketing.

00:01:29.400 It's understanding your total market and thinking about ways

00:01:32.200 to create value for them so that they stick around or they're

00:01:35.600 aware of you so you can create top of mind awareness, okay?

00:01:38.300 This is TOMA, top of mind awareness, so that when they

00:01:40.840 have the need, they come to you.

00:01:42.180 But I want to share with you guys the triangle and understand

00:01:44.380 the breakdown of each stage so that you don't get frustrated

00:01:48.020 and you create the right content to deliver that for them.

00:01:50.820 We changed that in our business and all of a sudden now we had

00:01:53.380 this thriving blog that kept attracting new customers and

00:01:57.880 the ones that were in market would buy.

00:01:59.780 So the top of the pyramid, this triangle,

00:02:02.680 if I grabbed 100 people and I said, okay,

00:02:05.260 out of 100 people, how many of you guys want to buy jeans?

00:02:07.800 There'd only be three or 3% of the total market that would say,

00:02:11.700 I'm ready to buy today.

00:02:13.660 And this is normal and the cool part is it shifts all the time.

00:02:16.840 Every week it shifts.

00:02:17.840 It's a different three people because obviously they get

00:02:20.240 their needs met.

00:02:22.640 So 3% is people that are buying now.

00:02:26.140 The next level down is in market.

00:02:28.940 These are people that may buy soon.

00:02:32.020 So if you talk to them about the right opportunity

00:02:34.920 and the right deal, they would maybe buy today versus waiting.

00:02:37.760 So this is 7% of that market.

00:02:39.900 So you got 3% that are ready to buy today,

00:02:42.200 7% that may buy soon.

00:02:44.360 Now, the other levels of this triangle,

00:02:46.460 they kind of break down into three big categories

00:02:48.940 and they're 30% each.

00:02:50.600 The first one is they aren't thinking of buying today.

00:02:54.880 So this is like if you said how many people are ready or even

00:02:58.140 thinking about buying jeans, they wouldn't put their hands up

00:03:00.980 but they were, they potentially could be convinced.

00:03:03.520 I call this the could be level, okay?

00:03:06.080 And the could be is 30% of the market.

00:03:08.160 That's why great education based marketing works so well is

00:03:10.620 that you're continuously communicating with them to make

00:03:13.960 sure that they think of you if the need arrives or maybe you

00:03:16.560 position your content in a way that addresses a need that gets

00:03:20.160 them to want to at least check out your products.

00:03:22.500 This is the could be.

00:03:23.460 The next level, which is the fourth level, is to convince.

00:03:26.260 These are people that believe they're not.

00:03:28.260 They literally say, are you looking to buy jeans?

00:03:29.840 They're like, nope, nope, I'm good.

00:03:31.440 I'm like, I've got my three pairs of jeans

00:03:33.440 and that's all I need and I'm good.

00:03:34.780 And they don't think they need to buy jeans.

00:03:37.520 But if you came along, these are the same people

00:03:39.840 that if they go to like a farmer's market

00:03:41.480 and there's some guy there trying to sell like a slap shot,

00:03:43.520 you know, like those kind of like hype-y cut dice,

00:03:46.360 slice and dice and automatic timer.

00:03:48.660 Like those are the people that essentially

00:03:50.600 were not even in market, didn't think they have a need,

00:03:53.540 but somebody convinced them to buy.

00:03:55.560 So those are the two convinced, that's the fourth level.

00:03:57.560 The fifth level, which again is 30%, 30%, 30%,

00:04:01.100 is aren't interested at all.

00:04:02.800 These are maybe people that don't wear jeans, right?

00:04:04.780 Maybe they wear pantsuits, maybe they wear shorts,

00:04:07.540 maybe they wear jogging pants every day.

00:04:10.440 But there is definitely, out of 100 people,

00:04:12.580 people that are not gonna buy.

00:04:14.420 So your goal is to create great content,

00:04:17.020 education-based marketing because if all you're doing is

00:04:20.160 creating ads or content that only addresses the top 3% of the

00:04:24.160 people that are ready to buy today or the 7% that could buy

00:04:28.460 and you're letting the other 60% of the people,

00:04:31.960 the people that believe they're not ready to buy or they need

00:04:35.300 to be convinced to be in market, that's a huge opportunity,

00:04:38.640 especially a great return on your marketing dollar.

00:04:41.080 Now, here's the trick is you want to set up your marketing to

00:04:44.920 always be nurturing the market.

00:04:47.220 So it's consistent and what you do is every once in a while

00:04:50.500 inside that marketing, you harvest, you introduce an

00:04:54.260 opportunity for them to get on a call with you.

00:04:56.040 You offer them something unique that you haven't talked about

00:04:58.760 before, you give them potentially some kind of

00:05:01.000 discount or you run a contest.

00:05:02.380 But there's actually ways to take your marketing, right?

00:05:05.400 And it takes care of itself.

00:05:06.600 See, great marketing will take care of the market for you.

00:05:09.540 That's the way I look at it, is if you set up this nurturing

00:05:11.580 process correctly, then the marketing will take care of

00:05:14.580 the market and when they're ready for you, you harvest,

00:05:17.620 you get the customer, you over deliver and your business

00:05:19.860 continues to grow.

00:05:21.120 So understanding the audience triangle will just probably

00:05:24.220 relieve your frustration of having some of your marketing

00:05:26.420 not work and realize that it's the long game.

00:05:29.040 You gotta create education based marketing to help your

00:05:32.300 business grow.

00:05:33.140 So I wanna hear from you, what are the five biggest pains

00:05:36.300 that your customers are having in your business?

00:05:38.300 I wanna hear the five, if you can't tell me what the five

00:05:40.800 biggest pains that you solve for your customers,

00:05:43.140 then you don't know your business.

00:05:44.580 Leave a comment below.

00:05:46.380 Let me know your answer there.

00:05:47.840 Can't wait to read and engage with you.

00:05:49.740 Although, as per usual, I wanna challenge you

00:05:51.640 to live a bigger life and a bigger business,

00:05:53.480 and I'll see you next Monday.

00:05:54.840 If you like this video, be sure to subscribe to my channels

00:05:57.020 for other tips and strategies on how to start

00:05:58.720 and grow your business, and I'd encourage you

00:06:00.720 to join my newsletter where I share exclusive invites,

00:06:03.960 free entrepreneurial training, and other community contests,

00:06:06.760 and if you're ready to keep going,

00:06:07.900 I've got two videos queued up ready for you right now.

00:06:10.940 See you next week.

Dan Martell - July 17, 2017

The Audience Triangle

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