Day 5 Lesson Progress:
Completed of Videos
About This Lesson:
Hey gang, welcome to Week 5!
Would you like to know whether or not your product or service will be successful, before you even create it?
Well today you’re going to learn how to do exactly that…
One of the most important steps you’ll make in your business, is clearly defining who your target audience is.
This is also referred to as, picking your niche.
The bigger and broader your target audience is, the harder it will be to acquire customers and make sales.
On the other hand, the smaller and more defined your target audience is, the easier it will be to make sales.
Because the key to selling anything is simple… When you can describe and articulate a group of people’s problems and desires better than they can, they’ll feel heard and understood by you, and if they feel heard and understood, you have their full attention and trust.
When you pick a very specific niche, your total addressable audience will be much smaller, but your ads will be more effective, your click through rates will be higher, and your sales presentations will convert more.
Let me give you a few examples to illustrate this point, and let’s start with Nike.
Now obviously Nike is a massive whale of a company that sells to a very broad audience, but they didn’t start that way.
When Phil Knight started Nike in 1964, he targeted one very tiny obscure group of people… Runners.
Now back in 1964, running as a recreational activity literally didn’t exist. There were no cushy running shoes like the ones we buy today. The only runners out there in the world were people who ran track, and Phil was into running track, so that’s who he started making shoes for.
He picked a tiny little niche, solved their biggest problem, and then began to slowly create additional products for additional niches like basketball.
And over time, they grew, and grew into more and more niches until they became the dominant athletic gear company in the world.
Here’s another example…
A young man named Andrew Argue was a CPA, and he realized that the biggest problem other CPA’s typically have, is client acquisition. Simply put, most CPA’s have no idea how to market or acquire clients.
So Andrew took it upon himself to master the art of marketing and customer acquisition for CPA’s, and then he started a consulting business that strictly caters to other accountants.
He teaches them how to market and increase the profitability of their firms.
Now I think you’d agree with me that targeting CPA’s is a pretty small niche, and yet Andrew’s business does over $10 million a year in revenue because he focused down to that one single group of people.
So today we’re going to help you define your target audience and your offer, with the help of my brilliant friend, Ryan Levesque.
Ryan is a very successful, multiple 8-figure business owner here in Austin and he’s developed an incredibly powerful system that will allow you to figure out whether or not your product or service will sell, before you’ve even created it.
And today, Ryan’s going to personally teach that system and methodology to you…
This is an absolutely game-changing class here at Mike Dillard Mentoring, so please grab your pen and get ready to take some notes.