In this video, Nikkie talks about the current state of the buyer’s journey and gives many examples of how different businesses can adapt their current offerings into markets that may be more profitable.
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Strategic Guide to Identifying Your Ideal Target Markets: Video Transcript
Understanding the Buyer’s Journey
One of the things that we want to focus on is buyer’s journey for each of you guys: awareness to consideration to decision making, okay? Where are your targets, when they arrive at the site. So for Iris, if you’re looking for that E course to act as that bridge, from awareness to consideration, or consideration to decision, that’s what a good source would be.
The Current State of E-Courses
I am going to tell each and every one of you that the course isn’t dead, but it’s in a coma. And they’re not tracking well, everybody that I’m talking to, SEO people are calling me and going, “Oh, my God, I’m our pipeline dead like no one’s signing up for the e-courses, nobody’s signing up for the e-courses.” That is a post-traumatic response to everything going on right now they’re fried. And they know “Do It Yourself,” they’re not going to do it. They’re not.
Transition to “Done with You” Formats
Going into a format of “Done with you,” convert the e-course idea to a Masterclass or a group coaching program or something along those lines, where you’re doing it with them. The traction point so that they feel supported, and therefore they’re more likely to purchase at this point on e-course. Just right now, if anybody hasn’t already created one, I wouldn’t necessarily do a big push to that.
Targeting Corporate Clients
Now somebody like Katherine, who’s attracting corporate clients, they have departments. [If you] wanted to educate the HR people, because the HR person is your gatekeeper and HR would be dedicating actual work hours. And they would say, “Go take this e-course and then come back and tell us what we need to know.”
Differences Between Individual and Corporate Targets
So that’s different than a self-starter out in the world, like an individual who doesn’t have that catalyst and motivator.
Leveraging Personal Experience
I think I told you guys that for the most part, your first targets will always be you five steps back, just because that’s your comfort zone and you know, the catalysts that you went through. And so typically, that’s for female entrepreneurs, that’s what empowers us. And we go, “Yes, I have a purpose now to start this business.”
Broadening Your Target Market
The thing though, is, is you’re always going to be chasing individuals, which is a very heavy load lift, to be catching individual fish all the time.
Partnering with Related Professionals
One of the targets you may want to look at is maybe an OBGYN who’s looking to expand out and this has demand for people searching for other alternative medicines and they’re traditionally Western chiropractors, other alternative people; yoga instructors who might want to offer something to people as an option. That way they’re hunting for you and they’re just feeding to you. Does that make sense? Then groups are being exposed to you versus one at a time, which is going to be a lot heavier of a lift.
