5 Advantages Of Internet Marketing Strategies For Your Startup In 2021
Are you thinking of starting a business in 2021? You will need to face many challenges on your way. Some of the common areas where the challenges occur include competition, capital, ideas, and others. However, poor marketing strategies are the most common issue that prevents startups from growing among all the different issues. Therefore, you need to choose the best marketing strategies if you want your business to grow.
Even with a good team, unique idea, and sufficient funds is not enough without a strategy. In 2021, digital marketing strategies are most popular to make a profit and grow your business. Want to find out some of the advantages of internet marketing strategies? Here are some of the most common ones given below.
1. Increase Brand Awareness
The most important thing about internet marketing is the awareness boost. Most internet marketing strategies help to increase brand awareness. Some of the specific ones, like social media marketing, are very effective in improving it. You can raise the brand awareness of your website with blog posts, SEO, social media sites, emails and newsletters, and others. Even when you are not creating revenue in an event, it can still multiply the brand awareness.
When you have strong brand awareness, people who are not potential customers will think about your brand while shopping later on. In addition, it makes your business much more visible to people. So, when they want to buy a product you are selling, they will reach your website. This is one of the most important advantages of internet marketing that can help your business grow a lot.
2. Relationship Building
You have to make sure that you have an excellent relationship with your customers. In this competitive market, having a good relationship with the customer is the only way to ensure loyal customers. Internet marketing strategies help to provide the platform to create a bond with the customers. You can interact with them and learn more details or answer their queries to earn their trust.
A business must have some loyal customers if they want to grow as a company. The best way to earn trust and gain loyal customers is by creating relationships. However, it takes a lot of time to gain the trust of customers. You have to be constant and very responsive to answer all their questions and clear doubts. Even a single unanswered question can make a difference.
Some of the best internet marketing strategies that will help you create relationships include email marketing, social media marketing, and others. We can help and you can learn more about our coaching and done for you services.
3. Boost Online Visibility
While traditional marketing helps you get leads from the local area, internet marketing allows you to break the barrier. You can get leads from any place outside your local area. Without any geographical barriers, you can reach anywhere you want. However, you need to be visible to customers to grow your business. Reaching out to customers is not effective when you are not visible to them. You have to make sure that they are following you and know the name of your brand.
According to reports, most customers now search with a brand name instead of searching for the product. So, you need to make sure that you appear on the first page of the search result. It will both enhance your online visibility and increase the chance of customers making a purchase. You need to make sure that you are visible to customers and they are thinking about your website.
One of the best ways to boost online visibility is through Search Engine Optimization, which Green Thoughts Consulting offers at an affordable rate. Get a quote here.
The internet marketing strategies are very cost-effective, which makes them perfect for startups. Even if you have low funds, you can use these strategies to make your business grow. Although it is much more cost-effective than others, the result is always higher compared to traditional marketing. It helps to save capital when the resources are used very efficiently. It becomes very rewarding and beneficial if used well.
According to reports, the total cost of inbound lead generation is more than 61 percent lower than the traditional process of lead generation. This is one of the reasons why startups choose internet marketing for their business. It both saves money and resources and provides excellent results.
5. Precise Targeting
You might know which of the following is a core benefit of Google Ads automated bidding. Yes, it is the auction-time bidding that helps to improve the performance of the ads. Similar to this, there are many internet marketing strategies that focus on targeting specific customers to improve the conversion rate. This option is not available in traditional marketing. But, you can decide who can see the ad, customize them based on the viewers, and take complete control of them.
These are the most important advantages of internet marketing strategies that every startup should follow in 2021. Startup businesses are similar to small plants that need complete nourishment to grow. The efficiency, great results, and opportunities are very high on internet marketing strategies.
We were happy to see that our agency was awarded one of the best digital marketing agencies in the Chattanooga area by expertise.com!
Expertise’s Selection Process
They start by identifying a broad pool of active professionals within a given business category and geographical area. Using their custom tools and resources, they analyze only publicly available data.
Next, they verify contact and license information to assure selection candidates are actively doing business and are in good standing in their communities.
Then, they use our in-house software to grade each business across the following selection criteria:
Reputation: A history of satisfied customers giving excellent recommendations
Qualifications: Established in their industry with licensing, accreditations, and awards
Experience: Masters of their craft, based on years of practical experience and education
Engagement: Approachable and responsive to clients and available for new business
Professionalism: Dedicated to providing consistently quality work and impeccable customer service
Finally, they hand-pick the best. Their team conducts a manual review to verify that each company on their list is truly one of the best. They then write unique and detailed business descriptions for each company.
GetResponse Alternatives The 4 Biggest Competitors for small businesses
If you’re considering GetResponse, the most important factor to consider is the market, as well as how well it aligns with your main goals. Both are competitors, and their mission is to assist you in determining which companies are the best fit for your business. With this online marketing tool, you can create permission-based mailing lists, maximize conversions with email automation and responsive design, and create landing pages. Get Response’s features to include video email marketing, email-to-speech, a custom form designer, and an iPhone app.
Every email marketer’s top priority should be deliverability. In our deliverability tests, GetResponse showed some growth potential. Deliverability rates fluctuate naturally, so we’re hoping for an increase soon. GetResponse does not offer a free (or even a freemium) plan, but it does offer a 30-day trial. Instead, check into these options if you’re looking for a free newsletter service. Listed below are a few GetResponse alternatives and competitors:
Customers will appreciate EngageBay’s extensive feature set in the areas of sales, marketing, and CRM. Sales and marketing automation, lead segmentation, personalised reporting, A/B testing, and other features are available. EngageBay is renowned for being an alternative to Get Response and other well-known brands in the industry while still providing a robust collection of features. A free Help Desk is included with every shipment.
• Automated systems that are both easy and efficient.
• This is a cost-effective option for small businesses.
• The learning curve is not too steep.
• There are a number of useful integrations available.
• It is absolutely free to use their Service Bay Help Desk.
This isn’t ideal for businesses looking to develop. Support is only accessible during business hours. In case of Engagebay, Small and medium-sized businesses in need of a cost-effective all-in-one sales and marketing solution to attract, interact, cultivate, and convert visitors to customers. Hence, Keap is high competition for EngageBay. Hence EngageBay is an alternative to Get Response.
Creatio is a process-driven CRM that integrates customer data with business process management software to help you streamline and coordinate your sales, marketing, and customer service activities. The framework is built on a robust BPM architecture, making it a flexible solution for a variety of operations. It is tailored to the retail industry and is adaptable to both small and large businesses. It customizes processes with a quick drag-and-drop editor, whether in the cloud or on-premise. It’s a good alternative to Get Response:
• It has a Customer Success Management programme that is customized to each customer’s needs.
• It monitors the progress of customers from lead to order to account management.
• It unifies marketing, distribution, and operations on a single CRM platform, and its CRM processes are adaptable and easy to change.
— Printable and Reports can be challenging to work with, and they seem to have fallen behind the software’s general quality.
— If you use your computer frequently, you can experience performance issues.
Drip is a popular CRM that claims to help eCommerce businesses turn leads into paying customers. The ECRM is intended to assist you in guiding potential customers through the purchasing process and personalizing the whole experience in order to increase revenue, repeat purchases, and market value, as its name suggests. Drip has a lot going for it, but it falls short of standards in a few ways. The fact that Drip was developed exclusively for eCommerce companies selling physical goods online is its biggest selling point. The app works with a variety of eCommerce platforms, including Shopify, and comes with a collection of pre-built automation that you can use right away. A good alternative to Get Response.
• Experts in eCommerce CRM
• Good automation integration features that function
• It’s possible that the email templates could be changed.
Monday.com is a leading contact and project coordination solution that organizes and synchronizes information in a single unified database to simplify project and customer management. This creates a forum for team members to collaborate and make decisions. It’s adaptable, tiny, and comes with a number of unique features. Monday.com, as a CRM solution, consolidates a variety of complex operations into a single portal, making pipeline management simpler, providing maximum visibility, and storing contact information in a central database. Is a wise alternative to Get Response.
1. To handle everyday activities and ongoing projects. Action boards with columns or pulses that describe a team’s workflow can be developed. All work-related activities pass through a team member’s board, which he or she must complete or delegate.
2. To keep track of incoming and outgoing communications. Teams may use a board to monitor various messages, their status, and also connect the original emails received, rather than using a spreadsheet or some other folder to keep track of communications such as emails responded to, phone calls received and returned, social media updates, and so on.
There’s way too much going on. The user interface is cluttered, disorganized, and frustrating for certain users. Some visualizations, such as the kanban board, can also be enhanced. Users should devote more time to familiarizing themselves with the platform’s terms and functions so that they can properly navigate it.
The mobile app is limited. Some users complain that the mobile app, especially the native iPhone app, is slow to update. The mobile app does not have an identical view to the dashboards, and users agree that it needs to be much improved.
With the internet here with us, marketing has evolved and gone digital. While traditional advertising platforms such as newspapers and billboards are still being used, business owners have shifted to digital platforms to reach a wider audience.
Whether you sell products, or you are operating a business in the service industry, one sure way of increasing your visibility is through digital marketing. The challenge for most business owners, especially startups, is that they neglect the marketing aspect of their business or they do not do it right because of lack of expertise.
This is where the services of a professional come in handy.
Benefits of hiring a professional digital marketing coach
Marketing a business on online platforms such as Facebook and Instagram requires tact. With the continuous evolution of technology, new marketing opportunities emerge, and it is only those who take advantage of these tools that adapt and survive the competition. If you do not know the first thing about digital marketing, or you need help improving your marketing strategy, hiring a digital marketing coach will make all the difference. Below are some benefits that come with it.
1. Mapping out a marketing strategy
One of the benefits of working with a digital marketing coach is that they can help you come up with a marketing strategy for your business from scratch. Most business owners confuse their marketing plan with their business plan when these two are distinct and require equal attention.
With the help of a coach, you can clearly set marketing goals for your business and measure your success based on these. Coming up with realistic and long-term goals pays off in the long run because marketing is a gradual process.
Over the years I’ve developed a series of steps that help cleints move to the promised land. It includes first finding your niche, then understanding your customer journey, building a value ladder, playing with numbers, creating assets, getting traffic and finally reiterating.
When creating a marketing plan, a coach will help you identify areas that need more attention and the marketing tools to use to reach a wider audience.
2. Learn the ropes from a Digital Marketing Coach
Apart from helping you come up with a marketing strategy for your business, your coach will also give you tools to manage your own marketing for both the short & long-term.
Depending on your needs and budget, your business coach will provide and conduct 1 on 1 training for you and your employees on how to manage your digital marketing platforms.
These can range from areas such as your website and social media pages to getting traffic and efficiently nurturing leads with content. Most small businesses that do not have a lot of resources to work with usually prefer learning the ropes and handling their digital marketing needs in-house.
Some choose to hire in-house experts to handle this aspect of the business or outsource digital marketing services from elsewhere.
However, it can be far more cost effective to outsource this help. The cost of a full time employee or dividing an employees time can be counterproductive and more than hiring a digital marketing coach to help.
Whichever option you choose, your coach will analyze with you the pros and cons and help you choose a budget-friendly yet efficient option for your business.
3. Digital Marketing Coach will help you improve existing marketing strategies
If your business is neither attracting customers nor making profits yet and you are using digital marketing techniques, chances are that you are doing something wrong.
Sometimes, the problem may simply be with your website design. If you own a website, this is the hub for all your other digital marketing activities. It feeds into secondary sites such as social media with a good content strategy.
After following the path noted above from finding your niche to reiteration your digital marketing coach will address secondary issues.
One of these issues your coach will try to resolve maybe your website, its design, content, and functionality. If the design is off, chances are that potential customers will not visit it or share its content with their networks.
Website responsiveness is also crucial because a website that takes time to load content can be repulsive to users. When churning out content on your website, your marketing coach will advise that you consider putting up quality content which is optimized for search engines such as Google.
Because web design and content development can be too technical for business owners, your coach may recommend the services of professional digital marketing companies to help you revamp your platforms.
Finding the best digital marketing strategy may be as easy as choosing the right coach to help you figure it all out.
Applying the strategies that you come up with is also another challenge that you can easily overcome if you put in the work. Not only does a sound marketing strategy help you stay on top of your game in your niche, but it also helps you adapt to an ever-changing digital environment.
What does prison to paradise have to do with buying behavior and the customer journey?
The customer journey begins like many things in life. In life, there exists a spectrum. A set of polar opposites. We have life and we have death. We have a new year and the end of the year. There is summer and winter. The poor and the rich. Love and hate.
This spectrum is not only literal, rather, it can be emotional like the need we all feel to be secure and safe. The polar opposite of safe is insecure or some such antonym.
The Yin and Yang exist everywhere. The decision that your clients make in the customer journey is no different.
If we boil it down your client’s journey needs to reach a place where they see you as the one and only person to solve their problem. You are the only choice for the client and there are no other options.
This is the customer path you want to put prospects on when you reach them.
The Birth of Great Marketing
Further, in this awareness of the polar opposites, you will find truly great marketing grows and becomes something more than an idea.
What is great life-changing marketing?
Marketing that gives life will describe more than a mere product or service. Rather, it follows how the ideal audience grows and becomes from peril and heartache to triumph and victory.
It is the prison to paradise narrative as I was trained to call it.
“The goal of the customer journey is to move that prospect from there pain points to the desired outcome that makes them feel relief from that pain point.“
Great marketing is about more than just identifying a problem and then selling it.
At its core, it’s about how the problem makes our potential clients feel, sound, and look.
Why? If you were to delve into the psychology of feeling and therapeutic listening you would find that people feel understood when you listen to them. This is common sense really people love to be heard. Don’t you?
“The best way to let people know you get them is to describe emotively and quite literally what they see, feel, and sound like when they are in prison, or sitting with an unsolved problem.“
In the prison to paradise model of the client journey these concepts come together.
The Customer Journey: Prison to Paradise
Let me break down the customer journey model as a outline to be followed.
There are two states of being in this model, prison and paradise. Prison represents the state of existing in a problem. The problem is unsolved. The desire to solve it may or may not be known. There is a particular difference in how one feels, looks, and sounds in this state when compared to its polar opposite.
The second state of the customer path is paradise wherein the world is right. Your life is in balance. You experience relief both physically and emotionally in how you feel, look, and sound. You are in a word happy or relieved that the problem was solved.
The client journey is just this. A pilgrimage you lead from prison to paradise, problem to solution, frustration to relief. But to get there one must build a bridge. This bridge is in essence your offer and the experience one derives from that offer. This bridge has pillars to hold it up and you would be wise to think of these pillars as stepping stones in the customer journey. This is essentially the product or service itself.
The above three areas are the core of the prison to paradise model. Get to know them well they will be the core of your business and the customer path. Let’s look at each more closely.
Prison and Paradise
The customer journey from prison
When you’re describing your ideal client, you want to understand how they look, feel, and sound.
How do things look to them?
How do things sound to them?
What words do they use to express themselves?
How do they say they feel?
What bothers them?
Where do they hang out?
What concepts and ideas move them?
What worries and excites them?
These answers will be on a spectrum like all human behavior, but what needs your attention is the polar opposites. You must identify the problem state and a state of relief. Prison to Paradise.
You must begin categorizing the look, feel, and sound ideology of our client into two buckets. The “I have a problem” bucket and the “Wow! My problem is now solved” bucket.
The customer journey across the chasm to paradise
In order to create real movement across this chasm from prison to paradise, you must make the customer feel understood throughout the journey.
How do you do this? Go where they go and do what they do.
For example, if your clients appear to hang out on Twitter, you should probably start spending time on Twitter. If they are always on the gram, then it’s time to build a presence on Instagram.
Go native and live among your ideal customer.
At the end of the day, you have to be where your clients are, or you’ll never connect or understand them. Not to mention you will be guessing how they feel, look, and sound.
Don’t get stuck thinking your only avenue is social media. You may find your ideal clients on forums, Facebook private groups, Reddit, Quora, or other niche blogs. Join these groups and live among them.
The great news about this step is that you already know the “who” part regarding your audience from our post on finding your niche. Finding your niche and getting clarity on that is the first step.
Now that the target is known you just need to find out where they are online. Once you find him, you need to begin listening and taking note of how they feel, look, and sound.
“It’s a good idea to go so far as to create a word bank of usage you see or behavior you experience in your niche audience. Later in the process using this language reflectively will make the customer journey feel like a place where they are understood and known.”
An Example of the Customer Journey
For example, let’s say you’re interested in providing stone pottery to people that are collectors of stone pottery, like cups and/or a dinner dish. You need to figure out where these people are and what they’re talking about and who they’re with. How do they look, sound, feel?
This is an ongoing process but I encourage you to start working on it now. Once you have a word bank and you have begun to understand how your client feels, sounds, and looks, the next step is to infuse those words and terminology into messaging.
Those worries, those frustrations, those negative emotions will be placed into your sales page, your social media messaging, your email outreach, it should be everywhere.
But how do you move them from prison to paradise?
You build a bridge and the bridge is nothing more than the pillar concepts that the client needs to step upon to get from the place of the problem (prison) to the place of relief from that problem (paradise).
The customer journey in action
John has found his niche by working the 2 Circles exercise. John knows he is looking to work with creative entrepreneurs that feel stuck and lack clarity in their marketing. The value he adds is his past experience of being a digital marketing agency owner.
What does prison then look like for these creative entrepreneurs or solopreneurs? I’ve tipped my hat a bit. It’s frustrating. Confusing. There is an overall deficit of clarity. These entrepreneurs run around in circles from one new hot idea in marketing to another tactic. The customer journey for these creatives has been a story of tail chasing.
The pain points are made worse by the fact that they can see people in the state they want to be in… paradise. Making money, endless leads, easy subscribes, and high Return on Ad Spend. At least this is the story these marketers sell to our creative entrepreneurs.
Simply put John needs to figure out through living among and listening to creative entrepreneurs how they express their prison and what paradise looks like. Once this is accomplished all that is left is to tie that language into sales copy and messaging.
John’s expertise in marketing helps him build pillar ideas that each customer must touch to get to paradise. The method is tried and true. It works.
So he walks them through 4-6 steps that help them get to paradise or at the very least reframe there concept of what that paradise really is or is not.
Another Client Journey
Tim is a financial professional that is desperate to move out of his current position and into a work from home business. He is saving money for the transition, plans to transition slowly over a 6 to 12-month period.
He realizes that there will be very busy times during this transition. Tim has set goals in regard to his income that must be met before he can leave the dreaded day job (it is actually a night job at the end of a 16-hour end of month close).
Tim has completed his 2 Circles exercise and found that although he is awesome at finance and accounting, he hates it. He realizes he loves writing content for other companies. Tim has been consistently writing on the side, for fun, since he was 23. He loves to write.
He never thought of making money doing it. During his finding your why work he realized that his writing is valuable to businesses in the finance and accounting industries because he is a fantastic writer and knows far more than the average bear about finance. A skilled writer with a niche.
Tim begins taking what he knows about finance and accounting to decision-makers in an effort to understand them better. Further, he begins following a few forums and threads on the internet about marketing and content marketing for financial professions. He begins haunting a private Facebook group of private CPA firm owners that are trying to learn marketing.
Tim is growing his list of how this audience will look, feel, and sound. The nuggets of gold he finds during this process help him craft more meaningful content on his new blog. He creates a sense of connection with his visitors through his sales pages, lead magnets, email sequences, and social media posts by reflecting back the issues they are dealing with while they lie in prison wasting away.
He also paints a picture of how it will look, feel, and sound when they are free and in paradise.
His pillars in the client journey are simple and only involve 3 steps. He delivers the desired outcome all the while helping the niche he serves to feel understood and involved in the process.
Next Steps to Build your Customer Journey
These are examples. The big take away is once you know what your niche is and what your reason for being is, you know, your target audience. Once you have your niche and your target, it’s time to begin doing the work of learning how it looks, feels, and sounds for your tribe. Understanding their natural customer journey and building a model to understand it like prison to paradise will supercharge your marketing and help you grow.
A value ladder, referred to as a brand ladder or marketing ladder, is a group of offerings that both increase in price and value as you move from left to right. It is usually depicted with a set of stairs.
A value ladder can do so much for you and it’s really a must-have for any business owner.
What can a value ladder do for you?
First, a value ladder meets people where they are this way.
By implementing a value ladder, you are able to increase a customer’s lifetime value, LTV. Providing lower-cost items that build in value as cost increases allow you to build trust with your audience early in the customer journey and still make some money along the way.
Additionally, you’re still meeting the customer needs and adding value, even at the lower level offers. Most value ladders work best when immense value is given even in the early steps. This allows you to show your worth to clients and build trust.
But let’s dive in a little more.
A value ladder is not about squeezing money from people and helping them max out a credit card to two. That’s not the point of a value ladder, even though a lot of marketing “experts” out there will tell you, it is.
If you’ve read any of my other blog posts on finding your why (where you identify your niche) or how to take your clients on a journey from prison to paradise. You know that my model of work is very client-centric. That’s not going to change in regard to a value ladder.
It’s all about maximizing the number of customers and providing value commensurate with that cost all the while building trust as they move through the different phases of the client journey.
Do you want a Value Ladder Template? Just fill out the form below.
So, you need a value ladder because it will increase the number of clients and the lifetime value of the average customer. It’ll also help you produce happy customers.
Second, a value ladder helps you produce happy customers?
Throughout that client journey, “clients to be” will touch various parts of your value ladder steps required to move them from prisonto paradise.
This is an important point, as what your audience and ideal client really desire is to find internal relief from the problem they are experiencing. Even if and when your customers show up with an external problem, which they will, the underlying problem you need to meet is internal and is found in the look, sound, and feel of your audience.
Why do you need a value ladder?
As I noted above a value ladder or brand ladder increases the lifetime value of clients. It’s really that simple. Anything that produces increase in revenue is a must.
For example, how would you like to take your business from where it is and increase your revenue by 30%, 80%, or even 200% by adding value through multiple offerings at different levels?
It can happen. I’ve seen it happen over and over. Take for instance, John.
John has a business where he provides $750 a month search engine optimization for X, Y, and Z ideal customers. The problem is John gets a lot of leads that say they don’t have $750 to spend or perhaps they don’t trust John enough to spend $750.
If John provided a free offer at the beginning, such as a one-on-one SEO audit with a zoom chat alongside help to the client, that would build a lot of trust.
Then perhaps that client was given the option to take a $67 interactive online course of John’s creation that would teach said customer to do SEO on their own. Then the outcome would be two-fold.
Increased trust is built at each step. Additionally, the client get’s more comfortable with John with each interaction, which moves the client journey along.
However, that’s not where this story ends.
On the client-side, they also receive loads more value than the free 45-minute SEO audit. They are learning to do SEO themselves with John’s online course.
Each client gets to spend hours listening to John.
In John’s business he makes a little money on the sale he would have otherwise not made if he only offered the $750 price point.
But there’s more, what if John then offered an upgrade to the SEO course, perhaps it is $97 a month, where the customer receives one-on-one access to John for a limited amount of time each month.
Maybe John decides to provide help for 90-minute group calls to those in this upgrade twice a month. This increases customer perceived value as they now have direct access to John. It also increases the lifetime value of each customer as there are points on the ladder below $750 for each customer.
I think you get the picture at the end of the customer journey. The final step in the value ladder is John’s bullseye offer, which is his $750 a month SEO package. When John only offered the bullseye he was leaving a lot of money on the table and lowering his potential customer reach. Don’t do this.
Plus, this is very important, John has now built trust with his prospects under multiple touchpoints, which makes it far easier to sell the bullseye offer.
The scenario above alone paints an all-in picture of why you need a value ladder in your business. But what are the other reasons to implement a value ladder?
Why else do you need a value ladder?
As I said, multiple times throughout that illustration, it builds trust. This really can’t be overlooked.
The Psychology of buying and customer behavior
The psychology of buying and customer behavior is quite interesting field, but not in the ballpark of this discussion. However, it’s been shown that to get a customer, to pay top dollar (your bullseye or top of the ladder offer) there must be trust.
In other words, people vote with their money.
If they’re not paying you, they’re not ready to vote or they vote against you. You have to put customers in a situation where they feel comfortable spending money because spending money leads to spending more money, which leads to two things.
And this is important.
It leads to a better outcome for your client in the end, because there’s more value as they spend money. Your free offer will never help them to the same extent that a paid bulldog offer will help them. You know, this and deep down inside, they know this, but part of the customer journey is walking through the process of understanding this
The Value Ladder helps organize the customer journey.
You’re able to meet people where there are if you’ve ever seen conceptualizations of the marketing funnel, there’s a whole slew of different versions. Most will look something like the picture above.
Most marketing funnels will be broken into at least three parts. Awareness or some other word like that depicts a similar concept. Next, you have consideration and research. And finally, a decision is made by your customer.
With a value ladder, you create offers at different levels, which help the buyer journey along.
Awareness in the value ladder is akin to something like a free offer
Consideration on the other, hand might be a low price offer, or maybe it’s another free offer.
Researchis your lead offer or a mid-tier offer on your value ladder.
It’s when they’re testing the waters and trying to find it, if you’re the real deal or not.
And finally, the bullseye offer is the conversion part of the funnel. It’s where your potential customer is ready to pay top dollar. Why? Because they know through your messaging that you are the only person that can satisfy their needs.
You’re the only person that can do it the way they need it done. And therefore they’re willing to pay you more than they want to pay you to remove the pain that they feel.
Therein is an important point. Having tiered offers in the value ladder allows people to jump in or to taste the product. At a minimum cost or investment to themselves, in the end, this helps move potential clients through the customer journey.
One thing that’s interesting about the funnel image provided above is if you turn it on its side, you can build a value ladder out of it. As shown below.
Value Ladder Examples & Thoughts
I wanted to uncover a few final points to note regarding the value ladder and common mistakes.
You should focus on an internal problem that your audience has.
I’ve written about this extensively in my prison to paradise and finding your why articles. It’s foundational to understanding the inner life of a value ladder and in my humble opinion must-read material.
Often of times what people really need and what they think they need are incongruent. For example, a client may believe they need you to fix their website copy, but in all honesty, the internal problem that they’re struggling with is that they need to make more money or get more leads.
You will want to sell them on the emotional problem. This is discussed in depth within the must-read article on the customer journey. Then and only then can you give them the external solution that they need. This is what creates a happy customer and in doing so, it changes the way they think about themself and the experience itself.
“You need to design offers and copy that meet and focus on the internal outcome rather than what your client thinks they need or the external outcome.”
If you found the problem you solve through finding your niche and then learned to move customers from prison to paradise, this will get you there. Well, let’s walk through a few examples of a value ladder that someone like yourself might try to build. And some of the hotspots throughout that can cause problems.
Ready to get your value ladder template? Just fill out the form below.
Example 1- The Accountants Value Ladder
First, what problem does an accountant solve? Fairly simple. They provide financial support to individuals and businesses. Hopefully, if you are Jim, our accountant, you have worked through finding your niche and you are more specific in your answer.
Jim takes care of bookkeeping and the accounting for artists that sell products online. He has worked through the ins and outs of his specific ideal customer journey. His value ladder looks something like the below.
Free Offer(s)– Jim has 14 free offers for potential clients. They range from checklists for the end of year to tutorials and eBooks on how to setup Freshbooks for your accounting.
Low Tier Offer– The businesses offers a 47 dollar set of accounting templates for those interested in keeping their own books.
Mid Tier Offer(s)– Jim has 2 courses that you can get for $247. One is a course that teaches you to do bookkeeping using Freshbooks. It contains worksheets, homework, actionable items, and over 17 hours of video learning. He has another course that provides similar value on a different topic.
Mid Tier Offer(s)– Jim also provides a 1 on 1 upgrade with each of his courses that are priced at $197 for two 90 minute group Q&A sessions every two weeks.
Bulls-eye Offer– Finally the accounting firm provides both monthly subscriptions for bookkeeping services and the filing of business taxes. The cost varies based on the complexity of the business, however, rates start at 247 per month for bookkeeping and 497 for base business taxes.
Example 2: Online Coaches Value Ladder
Nicole is an online business coach who was struggling in business prior to creating a value ladder and niching down. Her business has never been better after implementing our must-read articles on finding your why, the customer journey, and implementing a value ladder.
Nicole works with solopreneurs, entrepreneurs that work alone, specifically she works with solopreneurs in engineering vertical.
Free Offer(s)– Nicole has built, through a commitment to a creative mindset, 21 “lead magnets”. These allow potential clients to get help for free and likewise get to experience Nicole’s expertise.
Low Tier Offer– Nicole is an author and has written a book about finding your ideal clients on LinkedIn. She sells the book to prospects in exchange for an email and $7.
Mid Tier Offer A- Online classes on how to improve your lead generation and marketing for consultants in the engineering vertical. It sells for $397 per month and includes all 9 of Nicole’s courses on the subject.
Mid Tier Offer-At this level the value increases and Nicole provides a 4-hour package where she helps engineering solpreneurs (usually consultants) learn to market themselves more effectively. The cost of these 4 hour in-person or zoom sessions is $997.
Bulls-eye Offer– This ongoing marketing and coaching help is done with you. The packages start with a 90-day package that auto-renews without cancellation. It includes Nicole’s proven system to move you from prison to paradise and up to 8 hours of 1 on 1 work per month. The cost is $4947 for 90 days.
Take Action- Build a Value Ladder
Okay. Don’t just let this sit as knowledge in your head. My, I would encourage you to download my value ladder, worksheet, and tutorial to help you walk through this process. And what do you know? It’s free.
Get your free VALUE LADDER template today. Just fill out the form below.
Getting clarity and finding your niche is often one of the first steps to building a successful online business that thrives. The level of clarity needed to build that thriving business is not as easy to come by as one might think. So what does it even really mean to get business clarity, and find your niche?
A lot of blogs and digital marketers out there are peddling some snake oil niche lists. These are merely a list of sweet spot products and industries. The posts are often all the same. They are long laundry lists of profitable industries, upsells, or requests for an email address to “get the 50 hottest niches”.
These lists will undoubtedly include such areas as fitness, health, self-improvement, etc. There are so many of these lists that claim to help you get clarity on the concept of how to find your niche, but most just fall flat.
These articles miss the core issues around niching down and finding your niche.
A quick google search and you’ll find tons of these types of articles. You’ll find people trying to sell you, emphasis on trying, on the idea of using Amazon to find your niche based on demand. I think that’s backward, to be honest. If you want to build something worthy of building you need to start with a firm foundation that will not sway through the years.
I think when you’re looking for your niche and trying to glean some level of clarity on the subject there are several imperative questions you must answer. But before I get there, why do you even need a niche?
Why Find Your Niche?
Well, it’s simple really. You need to niche down because it’s in the niche that you make money. If your audience is too broad, it’s hard to speak to them in a way where they actually feel known by you.
That’s the very simple answer to it. But that’s only half the story. The other half is all about you. You must take into account your specific gifts, expertise, personality, “what you’re good at” to start off on the right foot and avoid burnout.
If you attempt to sell widgets in blue, red, and green you will burn out. Why? Because who is passionate about a product that just sells.
Sure it’s nice to make money, but money doesn’t answer the why and purpose of being. That purpose will sustain you. It will connect you on a transcendent level with others. Set out to find your why and in doing so you will find your niche.
My purpose drives me. I live to help small business owners and entrepreneurs grow and make a new life building businesses that thrive. It excites me.
People spend hours, days, weeks, months, and even years attempting to get clarity and purpose. I once had a kind soul sit across the screen from me and tell me they had been trying to find the right niche for 6 plus years. Yikes. In order to find your niche, there are three simple and powerful questions.
Three Questions to Find Your Niche
What are you good at?
First and foremost, what are you good at? There’s a lot we could say about that, but what areas in life are you an expert? Are you an expert with journal entries? Are you an expert at working through a balance sheet? Is your expertise in Excel or SQL databases? There are thousands of things out there you could be good at and have brilliant expertise in, but that’s not all of it.
I’m actually an excel ninja.
I can slice and dice when it comes to any dataset. I can build lovely dashboards for the C suite. I can automate tasks with visual basic and macros. But I hate this work.
So don’t get locked into the concept of expertise as a function of your previous or current work or career. Rather, I encourage you to think about expertise much more broadly.
Ask what can you do well AND you enjoy.
Perhaps you enjoy woodworking more than you enjoy your investment banking work or that analysis job. Maybe you enjoy making stone pottery, rather than working through the anxiety, another sales call that just feels wrong and cold always wondering if things will balance and it’ll be a short few days.
So that’s the first question have to answer.
What are you good at? And what do you enjoy that you’re good at? Don’t forget to add that part. It’s elemental and life giving as well as life changing.
Who would value that?
The second question you need to ask is who would value that? What people out there in the world would value the expertise you just noted. So in the case of stone pottery, you might say people that collect handcrafted pottery will value my work.
It doesn’t have to be completely different than what you do at work now though. Let’s say in the first step you said I really love doing work in financial databases but I hate working for “the man”. Maybe you start a consulting gig instead of working for the man that’s more niched down and focused.
Ask the questions who would value financial database work?
There are far too many people to name so you will need to drill down a bit more. Perhaps the answer is business owners or decision-makers with or in a company with less than 50 employees that don’t have or “don’t want to” use cash to hire an FTE to dedicate to that. So those people will really value you and especially when they don’t have to pay you those benefits and entire FTE to do some work.
This question of who will value your offer is key, but a deeper line of questioning lingers. You can’t just create products because you see them selling. Rather, you need an offer that solves a problem. If you don’t, it’s going to be darn hard to sell that offer.
Once you have these two fundamental questions answered, the “what your good at” and the “who values it”. Then you need to drill down into what problem does it actually solve for them?
The Sweet Spot – Solve that Problem
An offer without a problem to solve is a waste of time.
If your offer doesn’t solve a real-life problem you’re destined to fail and you can expect to sell little along the way.
So what problem is your offer, or better yet offers, going to solve for those people? You must have a value ladder with multiple offers. But that’s another discussion altogether.
I’m sure you know what a Venn diagram is from your days in school.
In the image above the Venn diagram, you see the “what you’re good at” and the “who values that”. Now it’s time to actually find your niche and start living your purpose. Each step in this process is a piece in the puzzle of finding a profitable niche, understanding your why, and finding meaning in your life.
I’m a firm believer that through understanding what we are and who needs that we find deep and meaningful, dare I say life-changing purpose.
Let’s face it you are here because you’re dissatisfied with your current job, your business, your meaning, and purpose. You hate the lack of clarity and can’t figure out why nothing seems to work. You are tired of missing out when the gang heads out. Getting home after dark regularly is the worst. It isn’t life giving. But finding your purpose and helping others solve a real problem will drive you.
“You will find your niche in the connection point on the Venn Diagram. What are you great at? And who wants and needs that? The overlap of that area is where you find your niche and audience!”
Take Action to Find Your Niche
That’s right take action. Don’t just sit there and wait on it to come to you.
Get out a piece of paper or a spreadsheet and create the two main areas (three on a spreadsheet). One, should be labeled “what I am good at”. The second area should be labeled “who would value that?”
The point of intersection in the middle, or middle column of a spreadsheet, is where you find your niche.
This area of intersection where both your what and the who out there coexist is where you need to be playing to thrive in business.
If you find it clarity has arrived alongside meaningful purpose in life. Further, it’s the thing that will drive you to get up every morning and create something new for your audience.
Don’t confuse this point. Your niche is not your audience. Your niche is the problem(s) you solve for that audience.
At the end of the day, people don’t care about you per se. They don’t care about you great skill nor how you do it. In the end, they care about you helping them solve problems.
Solving problems for people is something people will pay you for over and over again.