Scale Your Business
Before you go into specific tactics, the most important part is identifying what you and your team are setting out to accomplish.
Understanding what you intent to achieve will enable you to move into a direction and measure your results against some benchmarks that’ll tell you whether you are on track to achieve your goal or shooting off piste.
So where do you start?
One of the most important parts of any growth strategy, let alone marketing or sales is understanding who you target. Research shows that just by changing your target audience, you could increase your conversion by as much as 700%.
So when I work with clients and they tell me that everyone is in their target group, it’s like bringing a shotgun to a sniper standoff.
Imagine the last time you stayed at a reputable hotel. The minute you arrived, someone welcomed you and took your bags while directing you to the reception area.
As you walk into the building, someone greets you with a non-alcoholic refreshment to help cool you down from the scorching heat outside. When you arrive at the reception, the check-in process is quick and friendly.
A kick-arse value proposition is what makes you stand out from competitors and helps your future customers have a fantastic experience with you from the start.
It is not about the one-liner on your website here, I mean the complete experience your customers get from beginning to end. How they find your product, convert and experience your business is all a part of your value proposition
Most businesses ask the question of how they can attract more customers and convert them more easily. A good sales funnel matches your customers' buying behaviour from beginning to end.
So how can you create a better sales funnel?
In my last video I spoke about the questions you can use to map out your customer's behaviour.
The aim being to smooth out your sales and marketing flow and increase your bottom line.
Today I will show you how you can do that by creating a sales funnel that matches your customer's buying behaviour.
If you can't measure it, you can't manage it and therefore not grow it.
You probably have some ambitious growth goals you want to hit this year, and that is great.
Problem is trying to influence that significant bottom line number at the end of the year especially if it is still so far away. Today I want to show you how you can influence your end of year results by just focusing on some key metrics throughout the year.
So in order to market your product or sell your product, you need to understand how your customers will search, find, try and purchase products. Once you understand how their buying behaviour, create a sales cycle that matches your customers’ decision process.
What you can understand from these 101 start-ups and start-up founders and why they failed is that their lack of understanding about their customers. In particular, customers, the customer segments, and the pains that they're experiencing.
Honestly answer yourself these nine questions. Have a look whether you can answer all of them. This could be helpful for you to know if your idea works or not.
Narrowing your market down into manageable groups rather than trying to be everything to everyone, will help you find greater success in reaching your audience. You need to have a target market identified and clearly defined.
So the question I often get is HOW do you segment a market. There are many different ways but here I will share four of the ways I use to segment.
So let me show you how you can measure your sales process against your customer life cycle and atop of that is pirate metrics, short for AARRR.
Pirate metrics was created by Dave McClure, very prominent investor, entrepreneur, and accelerator owner in the US. It looks at five key areas of measurement. Altogether we have now got acquisition, activation, we have retention, revenue, and referral.