- How you can maximize profits by exploring a new audience that meets this criteria…
- The #1 mistake people make that causes more bankruptcies than any other (in my opinion)…
- The smart, proven path to profitability (instead of lighting your ad budge on fire)…
Read on for the secrets…
Are you looking to make money fast while minimizing risk or wasted money on ads that don’t work?
The key is to sell a proven product to a proven audience.
(I just summarized your MBA – you’re welcome!)
But instead of taking this straightforward approach, most people make the mistake of venturing into uncharted territory. This is where they put their hard-earned money and irreplaceable time at risk.
Think about it. If your main channel of distribution has always been email or affiliate marketing, but you pivot and go all-in running Facebook ads, without any prior experience, that a risky move. It’s like playing slot machines. There is a smarter way to maximize your profits while minimizing risk.
Let’s consider Terry, who already has an existing product on leadership. Terry also has a sphere of influence and various channels through which she already reaches her audience. Now, instead of adopting an entirely different approach, Terry can explore a new audience that closely aligns with their existing one.
For instance, if Terry is currently targeting C-suite female executives in the financial services sector, she can consider expanding her reach to a closely related audience. This could include middle management employees or entrepreneurs transitioning from the corporate sector to running their own businesses.
Terry can sell her proven products to a closely related avatar and have a high likelihood of success… with a lot less risk!
The BIG mistake many people make is venturing into a new audience with a new product on a completely unfamiliar channel. This is VERY risky and usually results in failure.
When considering a new audience or channel, it’s crucial to ask yourself a few questions:
1. Have you ever successfully made sales with whatever channel you’re considering?
2. Are you already very familiar with the audience you want to target?
3. Is the product you’re promoting already proven?
If the answer to more than ONE of these questions is NO, then it’s best to avoid jumping into uncharted waters impulsively. Trust me when I say, you’re better off setting your money on fire. It will be a quicker way to acknowledge the futility of such blind experimentation.
Instead, consider one of the following scenarios:
- Keeping the same product and audience but explore new channels
- Keep the same product, test a new audience, but use existing / proven channels
- Test a new product with your existing audience on proven channels
With any of the above 3 scenarios, you keep your risk low and increase your chances of success.
However, it’s important to note that you may have to test a new product, to a new audience, on a new channel if you are completely new and are simply throwing ideas to see what sticks.
If you are an established entrepreneur, it is advised to test only one variable at a time.
So, if you’re looking to make all the money fast and efficiently, focus on selling a proven product to a proven audience through a specific channel similar to one you have already mastered. This approach will minimize risks and maximize your chances of success. Don’t let impulsive decisions burn a hole in your pocket. Choose the smart path to profitability.
And remember, it all starts with your ideal customer avatar. The WHO you’re going to sell to!
Speaking of avatars… how would you like to identify and define your potential million-dollar ideal customer avatar in just a few minutes? How would you like to know EXACTLY who you should target with your sales messages, emails, ads, blog posts and more for MAXIMUM results?
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