As I continue to review the book Ready, Fire, Aim by Michael Masterson (I listened to it on from Audible), today I’m talking about Key 4 of the 4 Keys to the OSS (Optimum Selling Strategy).
Key 4 is ‘How do I convince people to buy my stuff?’
What it really comes down to is Marketing and testing. It’s really easy to have a product, a great new idea, and never act on it because you have no plan of implementation. Keys 1 through 3 were really about research. What product, where are the customers, and how much should I charge…Great questions, vital information, but really, these 3 steps are research…
It would be super easy to go through steps 1 – 3, do all the research, convince yourself that your working because you are doing all this “work”, which is important for the foundation of the business…but never make a penny.
Just think about how many awesome ideas you’ve had that you forgot about an hour, a day, a week later that may (or may not) have been an awesome idea for a business. I know I’ve had amazing ideas at times when I couldn’t write it down (unprepared…), and forgotten it 5 minutes later.
So, you went through all the groundwork, all the number crunching, all the product ideas and concepts – maybe you even created a product or a prototype for the product…but none of it matters if you stop there. None of it. All you’ve done up to this point is spent…time, money, energy, resources…you have not done anything in these steps that brings a return, which is why Key 4 is ESSENTIAL!
Key 4 is marketing your product/service. It is launching your product into the world, into the marketplace, into the hands of people who are, potentially, going to exchange money with you in return for YOUR product or service. This is the reason you went through steps 1-3 in the first place! Without the launch, you’ve got no ROI.
So, 3 things to consider in Key 4:
- How will you position your product in the marketplace – will you discount the pricing, give away free the “first-step” product, market pricing but add additional value (bonuses) if purchased from you?
- Copy (Copywriting) – Without good copy, maybe even great copy, your sales pages and marketing materials will fall flat. You have 2 choices: Do it yourself – either because you already have copywriting experience or you are willing to immerse yourself in it to learn; Or hire a copywriter. You can go on fiverr.com, iWriter or Upwork (formerly oDesk) and maybe find someone who can write decent to good copy for a reasonable price, but the problem is your taking a chance if you don’t know their work. Or you can ask others in your marketplace for recommendations. If you want to learn, here are some great resources to get started: Copyblogger.com – a website offering a really good free training course; The Copywriters Handbook by Robert Bly – an awesome book that will teach you the basics and beyond, or AWAI Online – The company co-founded by Mark Ford (Michael Masterson) that offers a bootcamp to teach you copywriting in 6 weeks. All 3 are good options, and offer a varied timeframe to learn copywriting at your own pace. Whichever way you choose, don’t skimp on the copy!
- Which media method to choose for your advertising? You can ask 20 different people with varied backgrounds and experience and you will likely get 20 different answers as to which media method you choose. If the people you ask are actually in media marketing, they will give you 20 different reasons that their method is the best. So how do you choose? Well, part of it is budget. Email marketing, for example, is much more cost-effective than TV Ads. So, you have to determine your budget first. From there you can look at the most effective way to reach YOUR target market. Going back to the research you did in Step (Key) 1, (Where do I find customers), you should choose the media that will best reach them there. For example, if you have a golf store, you aren’t going to target customers in a Mexican Restaurant…not because golfers don’t eat tacos, but because that isn’t targeted to that group. You would be better off maybe running an ad in a Golf magazine or the sports section of the paper or online news feed.
I hope this helps give you a good idea how to target a campaign to reach your potential customers. I’d love to read your comments below, so please comment, and share using the share buttons if you found this valuable. Also, connect with me on Facebook, Twitter, LinkedIn using the buttons below also.
Until next time,