When starting a business, many people get confused on which approach to take.
Whether to go for sales immediately OR to build a community first and then go for sales?
So what’s the right approach?
Well…both approaches have their own advantages and disadvantages.
Let’s take a quick look at them:
Advantages Of Going For A Sale Immediately
- You could make money immediately which would give your business a huge boost in its early days.
- If you have a paid marketing campaign that is making consistent sales and churning out profits, you could quickly scale up your business.
Disadvantages Of Going For A Sale Immediately
- You need to have sufficient marketing skills to be able to find your ideal prospects and turn them into customers immediately. To acquire those skills, you need to spend time and money to get somewhat good at traffic generation, copywriting, funnel development, etc.
- If you are running paid traffic campaigns and you don’t know what you are doing, you could lose a lot of money quickly.
Advantages Of Building A Community Of Interested Followers & Then Going For Sales
- While building your community, you could get a lot of data on what your audience REALLY wants – what they like, what they dislike, what keeps them up at night, what problems they are desperate to solve, etc. This level of market intelligence will help your marketing become laser focused and you will make a LOT of sales when you start promoting relevant offers to them.
- There is a snowball effect when you build a rabid audience. They will start talking about you on social media, sharing your content, which can drive a lot of organic traffic to your website. So basically your brand value will go through the roof and when that happens, your opinion and recommendations will be taken more seriously. Since people know, like and trust you, they won’t hesitate to buy products from you. Even high ticket offers.
Disadvantages Of Building A Community Of Interested Followers & Then Going For Sales
- It will take you several months (sometimes more) to build a sizable audience which means, your income will be virtually zero in the meantime. It takes a lot of patience and hard work to keep doing something when you see no tangible results. Most people who take this approach tend to quit before they can see the fruits of their labor.
- If you try to go about building an audience the wrong way, not only will you fail to make money, but you will also waste a lot of time and most likely have to start from scratch several months down the road.
So as you can see, it can be a tough decision on which approach to choose.
In order to solve this problem, you need to go and look at the FUNDAMENTAL issue instead of choosing between these two approaches.
People will buy products from you….or start following you due to only one reason….
If you build trust, people will buy from you, talk about you, follow you, recommend you to others…and so on and so forth.
Now how do you build trust?
You do that by solving the PROBLEMS of others.
Now how do you solve problems?
You do that through EDUCATIONAL MARKETING.
It doesn’t matter whether you are going for the sale directly or building a community – you need to educate your audience and provide value.
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When you do that, people will listen to you and trust your recommendations which will eventually lead to sales.
So the approach that I would recommend you take is a HYBRID one.
Focus on cultivating an audience WHILE going for the sale.
Here’s how you do it:
Step 1 – Identify Your Core Audience Who Have Burning Problems
This is very crucial.
First, you need to find out which segment of the market you would like to serve.
Next, you need to make sure this segment is BIG ENOUGH in size to build a thriving business and is willing to pay for solutions to their problems.
Once that’s done, you need to work on getting an intimate knowledge of the people in your market – their dreams, pains and everything.
A lot of marketers focus too much on strategy and tactics while missing the big picture.
The fastest and the surest way to CONNECT with someone is by talking to them about the topics that they care about.
When you do that, even if your marketing isn’t the best, you will get their attention.
That is why I emphasize the point about knowing your market.
Use Google to help you in your research.
Check out related blogs in your niche.
See what people are talking about in forums and social media.
The more information you gather, the better you will understand your audience and the easier it will be for you to build a successful business serving them.
Step 2 – Choose The Products & Services To Promote To Your Audience
Some people might say that you need to provide value to your audience first and then figure out what products to sell to them.
That’s the wrong approach in my opinion.
Business is all about planning.
You need to know your END GAME if you want to be successful.
Sure, you don’t have to decide everything and set it in stone. There is scope for adjustments but you do need to know what you are going to achieve in each step so that you can take action accordingly.
If you find a great audience with a huge problem but upon digging further, you find out that you don’t really have any products to sell to them….or the products that you can sell, pay peanuts….in this scenario, what good is that business.
It’s DOOMED to fail.
That’s why you need to find out what products and services to promote to your audience beforehand. Doing so allows you to get a good idea of whether your business can be successful or not.
A good product must do 2 things:
- It must solve a specific problem of your market
- It must allow you to generate sufficient revenues per sale (this will allow you to spend money on paid advertising and grow your business fast)
Ideally, it’s better to have a series of related products & services (solving different specific problems) to sell to your audience. This way, you can penetrate a wide segment of your market and maximize your income.
Step 3 – Start Marketing And Get In Front Of Your Audience
There are so many ways to get in front of your audience.
You could use social media or you could start a blog or you could build an email list by driving traffic.
I would say your core focus should be to BUILD YOUR EMAIL LIST.
When you get people to subscribe to your email list, you can reach out to them whenever you want via emails (until they unsubscribe from your list of course).
Your email list is your BIGGEST ASSET.
Nobody can take that away from you.
When you are starting out, you must capture every trickle of traffic that you get to your site so that you can get in front of those people over & over again through emails.
So make email list building as your core focus. Now you can choose ANY method to drive traffic and build your list.
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- Start blogging about the topics that your market cares about and get people to sign up to your list.
- Start connecting with people on Facebook and get them to join your email list.
- Do paid marketing (Facebook Ads, Youtube Ads, Solo Ads) and get people to join your list. With FB Ads & Youtube Ads, you can get started for as low as $5 per day. You can pause your campaigns whenever you want.
Step 4 – Use The Power Of Educational Marketing To Build Rapport, Trust & Sales
It all comes down to this STEP.
As I mentioned before, you don’t need to be a copywriting genius or know great marketing strategies to connect with people.
If you work on understanding your market, you will get to know the EXACT problems of your target audience.
Here’s how it ALL works:
People have pressing problems that they want to solve.
You have the product which can solve those problems.
How do you bridge the gap and get those people to BUY your products?
Through educational marketing.
Your marketing needs to talk about their problems.
It needs talk about why they are facing those problems.
It needs to talk about the impact of their problems (many a times, people won’t realize how much they are struggling because of the problems they face…when you talk about its impact, their perspective will change and they will be MORE KEEN on finding a solution to their problems).
It needs to talk about what are the ways they can solve that problem (explain about the mechanism of how that problem can be solved – for example, if someone doesn’t know how to get traffic, you explain about the process of getting traffic through a particular source – the better your audience understand the process, the more they will be inclined to buy your product).
And then finally it needs to present your product as a solution to their problems (this is where both you and your audience get the payoff).
Of course, there is more to educational marketing that what I have just explained but I wanted to give you a gist of what you need to be doing.
True educational marketing is all about providing value in a way that would lead your audience into selling themselves to buy your product.
Read that above statement again and again and again to truly understand it.
Now some people do educational marketing from a wrong mindset.
They want to provide value but they don’t want to lead people through a natural path and sell products too soon.
Think about it this way.
If you do NOT sell products to your audience, NO ONE WINS.
One, your audience won’t get their problems solved (the faster you make a sale, the faster they get their problems solved).
Two, you don’t get to make any money.
The whole purpose of educational marketing is to provide value and sell people into buying your products WITHOUT making them feel pressurized.
And the BEST PART about this kind of marketing is that you get to build an audience plus make sales at the same time.
So to recap:
- Find a hungry audience.
- Find good products and services to promote to them
- Get in front of your audience using free or paid methods (that’s your call)
- Provide value and sell at the same time
This process not only helps you get results but also gives you leeway to master different skills that you would need to grow your business.
I have used this same process to go from ZERO to making millions and I have successfully taught my students how to do the same.
If you would like to learn how to execute this whole process STEP BY STEP, then I invite you to sign up for a FREE Income Kickstarter Strategy Session with one my 7 figure coaches.
Inside this session, you will get a custom made blueprint on how you can achieve your income targets within the next 60-90 days. It doesn’t matter if you are just starting out or you are already making nice profits in your business…we will help you get to where you want to be.