According to Chet Holmes, (author of The Ultimate Sales Machine) buyers searching for your services fall into 3% of the total market and the rest into 4 further categories.
Yet this meagre 3% is the sole focus of nearly every sales and digital marketing campaign in your industry.
These guys are ready to make a buying decision within the next 30 days and this is your hottest marketplace.
(You know the ones, those red hot leads that come via your website or email.)
But accepting the fact that 3% are actively looking (and everyone is focused on these individuals) then according to Chet there is a huge opportunity of 67% left for you to approach.
But how do we do it?
The first issue is that the more traditional model of search engine traffic, client referral sites, website optimisation and paid keywords, tend to only reach the smallest segment of buyers who are actively looking for your high value services.
And if you only focus your marketing strategy on referrals and search, you’re only in with a chance when someone goes looking.
That means if no one goes looking you don’t get seen.
Also think of it as an auction:
When everyone is ‘bidding on’ or ‘optimising for’ the same stuff, the price and competition continues to increase dramatically.
And secondly these ‘reactive methods of digital marketing’ are poor at reaching prospects ‘open to buying your offer’ or ‘maybe interested’, so they are not much use for creating a predisposition toward your company.
Whereas Social Media Marketing is ‘Proactive’.
You’re not at the mercy of whether people are looking for you.
You can show up in front of prospects that are highly likely to be interested in what your offering regardless of whether they’ve been looking or not.
In fact a recent IPSOS affluent survey found that 78% high net-worth individuals use facebook at least three hours per day, and more than 58% percent of social media users said they follow brands through social media.
So if you know who your targets are, the brands they trust, their interests and passions or where they’re hanging out, and if your perfect client is a human, you can reach them first using Social Media and The Magic Overlap.
Well, the things people “like”, and particularly the brands they “follow” and the publications they read are massive indicators of their demographic bandings, social class and lifestyle preferences — and Psychographic profiling indicates their level of activity in those interests.
For example, if you're targeting high net-worth individuals there's a reason why you'd want an article in a niche related magazine like Tatler, or to have a mention in the FT How To Spend It, or to be somehow endorsed by Chanel.
Now imagine promoting your luxury products, an exclusive event or a high-ticket service to all those avid readers who are interested in or follow all 3 of them.
The point is:
If you can accurately detail your ideal client — whether ultra-affluent, affluent, mass-affluent, young, old, male, female, and so on — you can overlap their interests and location to find them.
So ask yourself (and please don’t scratch your head — you must know this stuff inside out):
- Who do they follow? (I.E Who are the authority figures, thought leaders, or big brands in your niche?)
- What books/magazines/newspapers do they read?
- What are their ambitions, aspirations, interests, attitudes and passions?
- Which brands are already marketing to them — and winning with their marketing?
- Are their social, cultural or political beliefs relevant to them — and you?
Better yet, using the below app, you can find lots of profitable untapped interests and target the hottest buyers your competition doesn’t know exist ..
- Automated, smart research tool uncovers interests your competition will never find.
- Speed up your research by saving you hours of manual work — just enter a broad topic and get a list of hyper-targeted interests.
- Find the most engaged audiences.
- Filter your audiences to drill down to the hungriest groups of leads and buyers.
- Built in “Layering” lets you hyper target the hottest fans in ANY niche.
Need an example?
Okay, if you’re targeting a client on social media who engages with 2 or 3 relevant interests dedicated to the luxury lifestyle such as a specific influencer, or brand, or a certain celebrity you can overlap these interests and reach potential clients other marketers and business owners don't know about.
You can also drill down with incredible specificity to identify and reach out only to people precisely matched.
- How much they’re making.
- The people who have recently moved and updated there City in the last 6 months.
- High-net worth neighbourhoods and wealthy postal codes.
- Frequent international travellers.
- People interested in luxury goods or services such as, yacht’s, travel, property, retreats, experiences ect.
- High-end device users such as the latest iPhone owners.
- People who have transacted using higher than the average spend.
But the question remains:
What kind of blog content, social posts or Ads do you produce?
Well, obviously your content must chime with the opinions, activities, attitudes and values of your targets — and psychographic segmentation helps you do just that by cleverly classifying these segmented individuals on the basis of these attributes.
In other words:
You can reach these potential clients where they are and then tailor your Ads and Posts automatically fitting their preferences and tastes.
And this is what makes The Magic Overlap so spine-tinglingly powerful:
Combining demographic data with psychographic data, you can uncover new, lucrative niche markets hidden from your competition and connect with them not only first but in a way that they will welcome you with open arms.
The trick is knowing why they are there — what content they are actively — and positively — engaging with and sharing.
And once you get a bead on these insights, you can adjust your marketing tactics to enhance your presence in ALL those target-rich areas.
You never really understand a person until you consider things from his point of view... Until you climb inside of his skin and walk around in it*.Harper Lee (To Kill a Mockingbird)
So your new goal would be to get inside the mind of your ideal clients, and teach them what they need to know to be successful.
Becoming a trusted source of useful information allows you to cast a much wider net, as your marketing can be appealing not just to people already seeking goods or services but also to people seeking information on topics of importance to them.
So create your marketing geared around imparting knowledge.
Sharing a winning idea.
Solving a really nagging problem.
Changing someone’s day for the better ..
- Enter a topic you'd like to craft your content around.
- Receive tons of information, ideas and answers to potential buyer’s questions.
- View of the questions & therefore a hint of the motivations & emotions of the people behind each search query.
- Create powerful content that resonates with your audience.
The more you know about your market, the more effectively you can leverage these aspirational desires in your campaigns.
That’s the golden rule to success in marketing today.
And the biggest secret behind that golden rule hasn’t changed either:
Make your marketing truly valuable ..
You know this of course.
We reward those rare people who really wow you with valuable content with the very stuff that guarantees their currency and longevity: respect.
When you come across something new that knocks you off your feet, when you recognise a real bona fide authority, your respect for it as a resource.
And respect is the bedrock of trust — a rare commodity these days.
With respect and trust in place, next comes a sense of obligation to share the treasure with others.
I know, it’s an ego thing: we want other people to ‘like’ us for sharing the really good stuff.
And here’s why you’d use it:
- People have a subconscious attraction to leaders and authorities.
- When you educate, the brain automatically assumes authority.
- If you want to make it to the top, you must become a leader with value to offer others, and proactively convey those qualities in your marketing efforts.
- Sincerity sells, so if you become genuinely interested in your prospects’ success they will do the same for you.
Think of it like this:
To get people to Know, Like and Trust you ..
You need to keep telling them ‘Why’ and wait for the ‘When’.
Clients have moved much of their life online, spending a substantive portion of time using smartphone apps, and the most progressive agencies are adjusting their marketing investments to enhance their presence in these areas.
As Roy H. Williams once said,
The race goeth not to the swift, not the battle strong, but to he who hath the best advertising leaveth them all in his dust.
But there's a caveat!
According to John Medina, a Professor of Bioengineering at the University of Washington School of Medicine, when people hear information about your company, they're likely to only retain about 10% of that information three days later.
I mean, like seriously ..
So just getting your message in front of these potential clients once is typically not enough to earn their business.
It takes time for people to get to know, like and trust your brand, remember your name, your offer and your message.
Couple this with the problem of time — we don’t have any — and the way we consume information — mobile — you need to stay patient and realise that you’re in this for the long-term.
So in the next post we’ll look why being the mid-tier contender EVERYWHERE they look is much more cost-effective than hitting Google’s No.1.
Yours for those blockbuster breakthroughs,