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Prospect Funnel in European Union
Prospect funnel in European Union
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What is the funnel process?
There are four stages of the marketing funnel: 1) awareness, 2) consideration, 3) conversion, and 4) loyalty. A brand's goal in each stage is to 1) attract, 2) inform, 3) convert, and 4) engage customers.
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What is a funnel in business?
A sales funnel is the marketing term for the journey potential customers go through on the way to purchase. There are several steps to a sales funnel, usually known as the top, middle, and bottom of the funnel, although these steps may vary depending on a company's sales model.
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What is funnel strategy?
A full-funnel marketing strategy simultaneously builds awareness, consideration, and purchase. The marketing funnel is a helpful framework for engaging audiences. At the same time, customer journeys and funnels aren't interchangeable concepts.
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What is a prospect funnel?
The definition of a sales funnel is the journey potential buyers go through when they take an interest in a specific product or service. This journey consists of a funnel of steps that sales teams use to convert prospects into customers, also known as prospecting.
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What does it mean to build a funnel for a business?
Building a sales funnel is all about knowing your leads, prospects, and customers, engaging them in a timely and relevant manner, and following up diligently: 1. Analyse your existing customers. A good sales funnel is built on a deep understanding of your existing customers.
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What does funnel mean in business?
The funnel, which is also sometimes referred to as a marketing funnel or revenue funnel, illustrates the idea that every sale begins with a large number of potential customers and ends with a much smaller number of people who actually make a purchase.
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show of hands in the room how what kind of audience do we have here are we pre-revenue anyone pre-revenue no shame by the way uh anyone between like um like 1K and 10K MRI all right anyone 10K to 100 all right so that's that's okay that's the big majority here uh congratulations everybody like it's super hard to grow a startup um I uh I know this because I remember crying into a lunchbox uh in front of my wife and kid before I was the head of growth of Power by search I also was a founder and we started in 2015 a survey tool a live survey tool for events like this uh where you'd vote uh with your phone and it would go on the screen you'd see the results coming in we raised a small bit of money so small that when I told Rob that I would raise money and was it okay that I still spoke at microconf he said that was so small that it was basically not raising money uh so I'm qualified guys all right uh we raise money we had investors on our board um it was it was so weird we grew this company it didn't it never really took off and we felt like it was just rough going and I remember this one point I was standing in my living room uh just about to leave the house my wife came downstairs with our newborn uh our first kid in her arms uh and she said to me are you okay uh and I literally just went I was crying into this lunchbox full of sandwiches sandwiches if you will uh and I really felt like uh the whole time that I was growing this company we hit challenges with scaling every single day felt like treacle or molasses or whatever you call it in your language we're a global audience here every growth gain that we made going up like this ended up getting churned out somewhere else it was an absolute Nightmare and really this slide for me is is what startup life is like right nothing really worked I went from oh my gosh oh my gosh oh my gosh we're gonna smash this 15 minutes later I am going to have a heart attack I am so stressed right and uh I think probably by the chuckles some of you can identify with that you probably feel like this too for it to a certain extent you got into building a startup because you love creating stuff you wanted to build a business you were excited about solving a problem for your customers but often the growth is stagnant right I think we all face that uh speaking to everyone at the drinks last night I think there were a lot of people who identify with this nothing that you do Works reliably you're convinced the next thing will be the thing that's going to take you to the moon but it's not and you're wondering how long to keep at it it's like you're waiting for a bus to turn up you're standing by the bus stop it's already late and you're thinking should I wait this extra minute will it arrive if I'm walking down the street away from the bus stop that's what growing a SAS company feels like a lot of the time you don't know when the bus is going to arrive that's going to take you to where you want to go but maybe you give it just one more chance right so as I said I left my startup eventually I was tired I was burned out and I thought I love helping people grow companies I enjoyed this uh this was fun even though it was painful um and so I went and I joined powered by search powered by search is one of the world's leading uh SAS marketing agencies we literally only do B2B SAS and all that we do is we build sustainable systems to help people scale their trials and demos their revenue effectively when I arrived and I I saw that we were generating results like this and I appreciate some of you might feel a little uh squinty while you're looking at those sorry about that uh I was like oh my gosh like we've cracked it and so here's my question to you what would you do with your time if you could just solve customer acquisition like if you did nothing else in the next three months except crushed customer acquisition what would you do in month four sound pretty good hands up if you cry to get customer acquisition sorted so that you're just scaling Revenue No Hands went up I'm worried for you guys we just like build um right if you if you could do that are you willing to invest the time is the question that you have to ask yourself because it's going to take you time hopefully the answer is yes the trick is there are only three ways to actually grow a SAS company and it's this the first way that you can do it is you can increase qpc qpc you can call it whatever you want I call it quality pipeline contribution that means the number of deals trials demos going through the pipeline at any one time you can increase that the second thing that you can do to grow reliably is decrease your CAC you hear about this all the time everyone's like just cut your cack it'll be easy man it's not but you can do it and that's the second way that you grow a SAS company and then the third way that you grow a SAS company is to increase your lifetime value how much and how long your customers pay you for increase that just do it the question really is how right uh there are three things that you have to do in order to do this the first one is you have to focus on attracting the right fit customers at the right pace in your industry whatever your Market is whatever your segment of the market is there are people who are good they know what they're doing they've attracted the right fit customers everybody thinks if they want to buy a sales uh a sales recording tool they think of gong or they think of uh HubSpot in the CRM market right those people are dominant wouldn't it be great if you were those people we're talking big big playing here but in every Niche there is also big players the second way that you can do this is by increasing engagement so when we're talking about engagement we're removing friction from the mind of your customer your ideal customer so someone lands on your website we want to remove as much friction in the decision to try your product as possible or if they see your ads or if they see you on social or in communities how can you remove as much friction from their mind of like what is this tool to get to a place where they're like oh yeah I know what that is I want that that's number two and then the Third Way is you can improve conversion now we're not talking about improving uh conversion in the sense of like form fields that kind of thing this isn't cro right what we're talking about is improving conversion in the sense that a customer goes from I'll try this out for a period of time to I'm going to use this this is going to be a main part of my business and I'm going to use it for a long period of time the challenge though is not just moving one of those at the same time but it's moving multiple levers at once companies that can move multiple of those at the same time grow significantly faster than companies that just move one and that's the end thanks for coming to my talk well it's uh it would be depressing for you if you'd pay to come and see a talk right and that was the end um but like let's do this more practically I bring a piece of paper in front of them pick it up we're going to do some we're gonna do some writing down as well I'm gonna ask you to make notes not to remember my presentation but for your own benefit uh here we're gonna do some scoring okay you don't have to share the scores with anyone so just be totally honest and if people here have teams you should also do this with your teams later we'll share the slides and there'll be a recording of this presentation eventually as well so you can show that to them now um there are nine levers that in this model this is called the predictable growth model uh this the um the image that I talked about there and we score everyone that we work with on each of those levers on a scale of one being the worst in the market you've got to be frank sometimes 210 being the best in Market you can do this with yourself it's a self score I'll give you some notes as we're going through to really help you with this so remember just keep making these notes because it will be useful to you I promise let's start with attraction and look at the levers so you see her on the outside here we have a series of levers around attraction so the goal here is to go from obscurity no one knows who you are the dominance you're the first person that everyone thinks about when they think about buying a tool in your Market the first thing that we want to look at is create demand and we ask a series of questions the main question here is how confident and you should answer this on your piece of paper write down create demand and then a score how confident are you that you are intentionally attracting only qualified right fit traffic score of one worst in the market to 10. best in the market now if you are not attracting the right people in the first place there is no element of optimization that is really going to make a difference for you you can't optimize zero it's zero right but if you can even get some good fit traffic you can improve on that over time how can you how confident are you that you're attracting this now what does this look like this is this is the hardest slide you're going to see today because it's it's a lot of text but I'm going to walk you through it this all starts with having a very clear picture of who your best customer is your ICP your ideal customer profile with with every uh client that we work with we want to get this level of detail for them um actually this is only a snapshot but basically there are five things that you should think about with your ICP what must be true for you to be successful about them what is important so which things don't have to be true but they do tend to make better results for your customers like if these customers fit in this category what's nice to have good customers and great customers right you want the great ones ideally but you'd be happy with the good ones for the time being but like let's shoot let's aim for the Stars Amber Flags so this would be a situation where it's maybe they don't quite fit in but you probably you need the revenue right because we're all building companies and maybe you'll accept them for the time being as a customer but that's that's not the long term and then red flags would be uh things that absolutely they're the wrong customer for you um so for us for example we need a mission critical product to work with like the CRM like that's where we thrive uh the founder of uh or the VP of marketing or growth starts the conversation with us that's pretty important but it's not necessary then nice to have is that people already like us that's pretty great uh amber Flags would be for us there's no marketing leader in post like they don't have a marketing leader and then red flag would be they hire competing agencies to do the same work you would be amazed how often that happens it is totally wild to me uh ICP definition is actually about 30 points long I promise you that if you get a very clear picture of your customer your marketing will improve your acquisition will improve just naturally it will be a pulling Force for you uh the question is where do you get this stuff from the first place is AD account insights if you're running ads on any platform you should be able to see things like seniority job title that sort of stuff regions all this kind of stuff particularly true on LinkedIn which is a fantastic ad platform although a little bit expensive if you get it wrong uh then manual analysis would be so this is all pre-signup like uh manual analysis would be things like gut feel am I getting the right customers am I feeling good about them are they paying me so stuff that is sort of intuition followers and fans would be stuff like um you know are people who are engaging with me on social in the right market for me that's a sign that your content is resonating with them sales uh would be like okay in our sales calls people are hitting all of our ICP definition key level Data customer data platform so you'll be looking at something like intercom or whatever you're using to see whether the attributes in there in each contact record are similar to your own a CRM level data is obviously if you've got a CRM the people in that CRM the right kind of people for you and if you're hitting those things that's great you're gonna do pretty well you should be higher up on the 10. the next lever that you can pull and I'm going to be Breezy here there's a heap that we can say but I'll put in the slack channel for microcom for heap of resources that allow you to go deeper where you want to after so that'll be useful hopefully second question is build Authority score yourself zero one to ten so one was to Market 10 best in Market this is to what degree is everyone on your team on the same page about the transformational promise that you make to your customers what does that look like well in reality your team is telling different stories about what you're doing every single day I can almost guarantee you that is the case if you have people who aren't in your founding team it's almost definitely the case even within your founding team though this these are six things that I heard on a daily basis from our team when I was at dupole uh and they're so different there's like there is no customer who cares about all of those or even a half of those and it left me feeling like this because it really stalled our growth efforts the challenge then is to align your team and everybody in it and have a clear picture about what you do I use this framework which is just a simple positioning system we actually have a much more in-depth one again I'll link to it in the microcomp uh Channel but basically I would I would suggest this for you put into your team slack or base camp or whatever messaging app you use this statement and say hey you guys mind just replying with what you think this is this will be so interesting for you because you'll see where you're going wrong and where you're going right many customers put your profile in here so you're filling in the gaps pain Point what are we solving for them and so our competitors do how is your competitor to solving this problem but we think and then your unique differentiated worldview it's very important it's one of the key factors in a growing company is better so we and then our Solution that's your basic pitch so think about this for HubSpot for example um I use them as an example because everyone knows them uh many small business owners that's the customer don't have a reliable system for managing their acquisition of new customers and so potential Revenue falls through the cracks that's the pain point so our competitors provide them with a CRM to manage contacts and Deals compared to the solution but we think that this doesn't go far enough because they need tools for marketing Automation and email and things like that so uh is better so that we our solution would be that's why we provide them with a CRM that has built-in marketing automation tools ad management and email software if your team can align on a single version of this and say it consistently they don't have to say it word for word but the concept has to be pretty close then you're doing well and then finally in this section we've got fill funnel the question here is how robust is your system for turning visitors to your website into prospects that give you permission to have a deeper level of conversation with them this is going to be incredibly important in the years to come as we move away from third party tracking to first party data are you worst in the market or the best in the market for filling your funnel one to ten give yourself a score um most people this is true of companies that are 100 million or even or even 1 million uh they will be looking at the buyers in Market uh I can say this is true because this is true of many of the clients that we start working with um they will be looking at the buyers in market and going okay how can I get those guys to convert right now well look you have a current addressable Market which is a section of your larger market which you think you can probably Target right now with the features that you have and then you have a total addressable Market which is a much broader thing uh and and likely a number so large that it's almost abstract to you at this point you should still be marketing to at least the current addressable Market in order to get permission to continue marketing to them right so they come onto your website they browse 10 seconds how are you getting those people into your system somehow so that you can continue to convert well this is one way that we've done this just an example this is a company called loxo um I think they're going to be a big deal but right now they're very small and basically they make a deal room for sales teams so like imagine you you want to sell someone a product and there's lots of stakeholders they put all the documents in the same single place now um what we what I help them do is uh basically this concept called precursor marketing so you might have seen templates for zapier and things like that um the template for zapier is a great way to get someone to start using zapier but there's a challenge not everybody is ready to start using your product they just want to solve a problem so that's the this is the current addressable Market now what we told Luxo to do was basically replicate their exact system in notion uh or some tool anything will work really a Google doc would work but replicate what you do and allow people to download or get access to it just for an email address challenge though is to remove certainty speed or Insight okay so you remove certainty of outcome from your actual product and put it into the dock you remove in a speed like it's harder to do a notion dock than it is to do one of luxo's projects and you remove Insight there's no analytics in notion so you've removed the insight now doing that stuff allows you to attract more people and get them into your system with something useful that they actually want to do uh now we're on to engage so uh here the trick is to go from friction to flow okay um the child the the goal is to get an increased quality of pipeline because people believe that you are the solution and you decrease your CAC because it's more obvious that people are actually going to convert if I I literally got um a tattoo by the way of uh Target customer pain points uh on my arm um fortunately it was a tattoo but it was convincing enough that the internet believed me uh so I I believe in this very deeply how well engineered is the content on your website if you have it if you don't you need it to cause the prospect to know that you truly get them better than anyone else they're paying and by the way we're going into a crazy market right the economy is crashing if you already think you're doing a good job of this your customers pain points are changing next year you need to readdress it you scored a one or a 10 write that down on your paper people are investing in software because it solves their problems they don't wake up in the morning going man I want to buy a CRM today they go I have a painful problem I'm going to buy a CRM today that specific phrasing is a crucial part of software buying I have a problem I'm going to solve it you must be able to demonstrate how your product meaningfully solves deep pains so again here's another example uh of a good and a bad so bad uh there's a build a trend compared to doing here somewhere I know um so they do this thing on their home page where they say we're the leader of construction management software that's their selling point the leader of construction management software no one cares we're changing the way the world builds hey I don't believe you but B no one cares build a trend connects teams improves project efficiency and increase in profits okay maybe someone cares about that but it's still not very specific on the other hand and yeah sorry I did this this is literally my copy so I'm gonna appraise myself here this is great copy everything you need in a construction management tool Builders construction people they don't care about software they just want to solve their problem they want everything that they need in a single tool it's a common pain point we learned this by speaking to progel's customers they were fed up of buying multiple tools to manage their projects this one is built by construction Pros People Like Us they get us and they have honest pricing because I kid you not projo's customers said to me we don't like build a trend because it's run by Wall Street I was like I cannot identify with that world view but if that is how you feel then I am going to really respond to that this converts like crazy because it clearly targets pain points and we actually have a framework that we cut and again this will be available uh so you don't need to read it all we have a framework that we call the SAS Authority architecture it's effectively an architecture for information on your website that we have found to be ideal it's not always right but it is pretty great and if I were you and I was looking for actionable things to take away from this I would be going away and making sure that I have those key conversion Pages Their Stars very neatly responding to customer pain points right so that would be just so in case you're squinting that home page the book a demo or trial page and the competitor Pages competitor Pages absolutely Crush acquisition and they do it reliably everyone that I have done one of these for is absolutely nailing it uh the reason is because they're deep they make honest comparisons and they're not afraid to send bad fit customers to alternatives keep that in mind you don't need a pricing table on there you don't need a feature comparison table you don't need to nag your competitor just to get customers you're a good product right you've got one you've got a clear Market you're going to get customers if you just really respond to that educate motivate prospects how often do you publish content about mistakes your prospects are making in their industry instead of only talking about solutions that you provide everybody talks about solutions they provide but are you the worst in the market a one or are you the best in the market of 10 are telling people how to solve their problems or at least offering them ways to do that doesn't enough it's a classic piece of marketing Twitter advice to talk about benefits uh not Solutions no one no one can get what you're talking about no one understands oh these guys are going to change my life I'm definitely going to pay them thousand dollars a month uh right you have to align features and benefits to your customers pain points because you have to hold your prospect's hand through the process of buying most of the time I'll give you an example again from dupole so uh pain Point content on your website will convert a significantly higher rate than high volume content so high volume content would be in this case it was literally a piece responding to the keywords uh the query what are benefits of satisfied customers now literally no one in the world really needs that content I bet if I asked you what are the benefits of customer satisfied customers you'd probably tell me the content of this article just two seconds no one needs it it's low value but you do it to get the key with the search traffic it converted at less than one percent on the other hand this piece which I considered frankly quite dumb uh when I wrote it create an online poll in under two minutes I was like no one again no one needs this I was wrong this became one of the highest converting pieces of content on our website twenty percent of people who searched for that converted to paying customers that is insane it shouldn't happen but it does people sometimes buy software like that but what it tells us is that content that actually aligns to pain points decreases the friction in the buying process because they're like oh I have a pain Point these people are telling me how to solve it and they have a piece of software that solves it done deal and it's not always that straightforward but calibrate calls to action is our next lever so how consistently effectively and successfully do your content marketing efforts contribute to Damon trial pipeline targets now maybe you don't have demo and trial pipeline targets but you've got growth figures that you have in mind how successful are you doing that right now one or ten and this by the way call to actions is not just talking about buttons we're talking about this how are you getting permission from all of these people to continue marketing to them and building their awareness of your product and your way that your product solves their problem you have small number of buyers in Market but you have a much larger total addressable Market some of them don't know what that problem is hopefully that's not the majority if it is you really need to think about this hopefully most of them are problem solution or product aware now many people will just neglect entirely to Market to those people but it's the majority of the market now they're going to buy a product at some point most likely unless their needs change significantly but that's a that's a mathematical portion how are you getting permission to do that how does your content help in doing it buyers need a lot more hand-holding than you think that they do uh I'm not saying buyers are stupid we're all buyers of software we just need more hand-holding than saying I just want to buy this we came up with this thing we call it the bio Readiness matrix it's basically different kinds of content that we have found to convert very well at different stages of the funnel convert being not I'm going to sign up but I'm ready to move to the next phase of the content Journey right so the bio Journey somehow so I won't go through all of these but like let's say for example I am I'm solution aware so I know that there are problems that that that there are solutions that can solve my problem um but let me quantify the cost of the problem well a calculator there will give you a way to say okay here's how much the problem costs you right that's a valuable piece of content now if you make a great call to action after showing someone that piece of content because they've said I have that problem you can also say to them okay well here's some product aware stuff right you don't say here's product aware stuff you say here's a great case study of how X companies solved the same problem as you did that stuff again you're talking about just moving people along and the final area and I'm breezing through now guys uh the final area of our predictable growth model is convert so how do you go from loose loose kind of buyer relationships to locked in for a long period of time the goal here is to increase lifetime value and obviously there is a relationship between or hopefully obviously between lifetime value and the cost of acquisition if you keep someone for longer and you pay them the same fixed amount you pay ad networks or whatever the same fixed amount obviously there's a relationship there you're going to decrease CAC and that's that's one of the ways to grow first lever you can pull here is stacking strategies how robust is your system for connecting demand gen strategies so acquisition strategies that work together so across all your channels to increase steel flow are you one or a 10. this is not a secret but it feels like it sometimes to reliably generate revenue and build an Unstoppable SAS company channels must work together marketing channels we're talking about there to to be part of a broader strategy a quick uh idea of how that works is each each Channel actually ends up creating a flywheel so let's say you're investing in paid media that's ads uh for anyone not uh familiar with that ads will allow you to buy Perfect Fit traffic as long as you know what you're targeting in theory now if you can drive those people to your website demand gen that's what we call positioning and messaging so that will allow you to convert people better now you can improve uh you can improve the cost per acquisition by publishing relevant content and get getting people to uh to stay around longer because they're better fit customers they know you solve their problem this is a flywheel and it feeds all back into each other right it just it will perpetuate but you have to make it happen Drive deal flow is the next lever how well do you convert marketing qualified leads that's people who've said yeah I want to know more information or I'm I kind of want to know more information into sales ready uh sales qualified leads demos and trials so this is people who are ready to literally use a piece of software but just need to go through a buying process to drive deal flow ask yourself this what's the offer that I could make a prospect to get them to choose their next step right now like a Choose Your Own Adventure like what do I need to offer them at this point to create a compelling story for my Prospect there's a case study that we have um moving prospects through the buying process basically we had this client and financial advisory software for client management right it's pretty technical but basically financial advisors want more assets under management and that's how their business grows they get more people investing their money with them uh we had this lead magnet there and basically um when they started working at this they people were just languishing in their pipeline they didn't really want to reach out they didn't really want to do anything they just wanted this one resource um and so basically what we did uh was we changed the way that they did calls to action mqls previously that's marketing qualified leads those languishing in the pipeline people converted to demo trial at 2.5 to 5 depending on the period here's what we did though so this is like the lead magnet form um you don't need to read it all but basically it just says are you looking to scale your AUM assets under management by five to fifteen percent very pain Point focused yeah I want to do that okay well here's seven critical Financial mistakes to avoid when doing that great that sounds like something I need to know here's my email address here's my job title most people deliver at that point just a PDF and a window a browser window it's the wrong move it's a wasted opportunity don't do it instead offer them a next useful step so what we did was we said this guide is going to arrive in your inbox in five minutes you just gave us your email address we'll send it to you you can go away if you want no problem on the other hand if you are actually looking for a simpler way to scale your assets under management here's a quick video and by the way that demo video it's corresponding to the five minute wait for the PDF to arrive that's a kind of an important part of that you can watch this video and then sure why don't you just take a trial like it's free you don't have to do anything you just do it if you want you don't have to we'll continue to Market to you we've got you email address now but there it is it's right there if you want to do it those are the pain points and the benefits uh five to ten percent of people became trials this is Improvement if you think about the volume there as well that you might drive through paid media if you could go from 2.5 to 5 to 10 right so uh then we're on to compressed time uh so how often are you using the same marketing channels that you use to acquire rightfit leads to continue marketing to them once you have them as a trial user or SQL in your pipeline basically once somebody has said I'm ready for marketing and maybe they signed up for a free trial do you continue marketing to them you shouldn't just be checking in on prospects don't just go like hey uh you want to do this now right continue to Market to these people they've said that they have a problem that you can solve they've signed up for your trials they've signed up for your demos your marketing should be always on basically working for you while you're asleep that's the dream right we can get Revenue while we're sleeping so we call this thing the boomerang method this is one way that you can do this um and it's basically uh you guys familiar with remarketing where basically you put a pixel on your website then you use ad networks to retarget people right there's some challenges with that let's not talk about that right now but um the tired way of doing this is basically go hey if anyone visits my website I'm just going to retarget them with ads wherever they are on the Internet it's it doesn't work because it's undifferentiated you're targeting everyone with the same message there's no there's no finesse to that the wired way to do this is to go okay here are the high uh the high value interactions that a person can have on my website view my pricing look at the demo request page or interact with an ad there's other ones your your mileage may vary you pixel those people and then they see we're targeting ads the real kicker is that there's a better way to do this again this is what we call the boomerang method so basically now we go okay if you visit High intent pre-acquisition page so you get pixel you see retargeting acquisition offer that's very specific to what you're feeling if you visit in-app Pages because you've signed up for a trial but you haven't converted we're going to pixel you and put you in a different audience then you're going to see a retargeting demo offer so you're going to have someone reach out to you if you want them to if you're a customer but you haven't activated you're going to get a customer success offer right um and then if you interact with an ad you're just going to see the plain old uh retargeting ads but doing this allows you to make the most of what you already have these people are waiting to convert they're in your pipeline don't let them languish and by the way retargeting is an absolutely cheap version of paid marketing right just cold ads retargeting is significantly cheaper all right there was a heap of information there and I'm almost done but the question here is like what do you do with this you get this big old diagram how do you prioritize these actions well hopefully you were making scores throughout if you're not you can do it later because here's what we do we tally up the score for each section and divide by three gives you the average you're smart people you know this uh but it gives you the average for each section attract engage convert okay now the first thing that you can do and really the only thing that's going to really Drive things is focus on the lowest scoring section as classic management scorecard Theory the thing though to do is then to break it out and go okay prioritize your activity by the lowest scores within that section you have limited resources everyone does how do you make the most of that time prioritize your activity by the lowest scores I'm going to drop a link to the SAS scalability score what which we all just did hopefully in the microcomp channel so you can use it with your team and if you want to get the first chapter of the book that we've written you just go to predictablegrowth.com and you can download it now guys this has been great thank you so much I hope it's been useful uh show of hands useful not useful useful all right thank you very close to the beginning you talked about um this statement many target market pain points on and our competitors do it's the competitors part that gets me we have like 50 100 competitors how do I find which competitors I should actually care about and focus on when I'm putting these type this type of messaging together yeah I think um there's two parts to this the first part is really understanding what's the what are the categories within that market of competitors I I would be surprised if you have a hundred competitors who are doing all exactly the same thing as you you may want to think about whether you can differentiate in some way product wise at that point but there are probably several subcategories right so understanding which one you're actually speaking to that can that can help you in the first place by basically saying look we're batching competitive messaging into different competitive types the second thing though is uh how do you discover which one to actually address like let's you're not going to create 100 competitive Pages you're probably going to create two or three the real thing that you should do is basically uh look at the data um in your uh in your CRM like what did your best um what did your best fit prospects do previously um you can look at uh you can look at the kind of the market as a whole and go okay these are the people we're actually probably losing business to even if you haven't asked directly you've probably got a gut feel and then the third thing is obviously going back to sales calls or demos or trials or whatever you've done I'm basically saying okay these are the people that were mentioned during the process just do a tally don't overthink it at this point um do a tally and just prioritize a couple of those competitors to address um and if you've got case studies or just even testimonials of people who've had success after switching again a great way to think about this because that's believable stuff that you can you can show off thank you very much everyone please give a big round of applause thank you
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