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SFR 157: Three Personas Of The Red Ocean...

SFR 157: Three Personas Of The Red Ocean...

FromSales Funnel Radio


SFR 157: Three Personas Of The Red Ocean...

FromSales Funnel Radio

ratings:
Length:
23 minutes
Released:
Jul 17, 2018
Format:
Podcast episode

Description

A common funnel error is targeting the wrong persona in the red ocean…   Do you have a great product that you know could change someone's life, but you’re not getting the sales you want?  Well, stick with me, because you might just be selling to the wrong people.   In this blog, it's my mission to help you discover the customers who are ready, willing and able to buy your product. In fact, these people are so eager to buy - that you can even be a C-level copywriter - and still make loads of cash. Intrigued? You should be ;-) MY PERFECT PITCH   A few years ago, I got a job as a door to door salesman. I'd walk around knocking doors, "What's up, pest control!"   As the summer went on, I developed a bit of a theory.   I started to notice that when I went to areas that were less affluent - smaller houses, not as much cash - I could get a ton of sales fast.   I was killing it!      Two to three sales a day was good in the pest control business, but I was regularly making six. I'd collect the cash, and we'd spray the houses... I thought everything was amazing. I felt like “The Man."   Every so often, we’d rotate our areas and visit different cities with more affluent neighborhoods where people had bigger houses and more money.   When I'd knocked doors in these wealthier neighborhoods and gave them my pitch, I was shocked to find that I got a lot of rejections.   It was rejection after rejection; I couldn't figure out what was going on. So I decided to go back to those old neighborhoods where the people didn't have as much money - 'cause I knew I could sell them.   Well, at the end of the summer, at least half of my accounts failed. Lots of my contracts refunded or didn’t renew because the people I’d pitched were not able to keep up the payment - even though they “wanted” the product.   I realized that I’d perfected my pitch to sell to people with less cash.   In the meantime, all my buddies who had spent time learning how to pitch to rich people made a lot of cash.   They had fewer cancellations and sold higher value contracts - so by the time the summer was over they were still getting paid on their accounts.   Not only were their customers not leaving, but they were also putting more money in their pockets. I realized that even though I’d been making lots of sales, in reality, I’d been selling to people who didn't have the money for continuity -  which made them far more likely to refund or cancel; leaving me broke and fed up.   Sure, I'd get a lot of accounts, but none of them would stick very long.   I was like, “Crap! How can I NOT ever do that again?” It was  a huge lesson for me. WHO ARE YOU SELLING TO?   Now it probably won't surprise you to you to learn that since my pest control days, one question I’ve obsessed over is “How do I sell expensive things to people who have cash?”   Most of the time when I consult with businesses they have a great product, it’s simply that they're  selling it to the wrong “type” of person.   We know that it's best go sell in places that are competitive (i.e, the red ocean) - because there's security there.   Personally, I combine elements of the red ocean with elements of the prolific and the blue ocean to create a purple ocean offer that’s extremely attractive to your customers.   If you want to learn how I create purple ocean offers, you can find out here. However, If you want to avoid making the same mistakes that I made when I sold pest control, it’s vital that you understand the 3 personas inside of the red ocean…   So let me grab my whiteboard and show you what I’ve figured out!     YOUR “NO DUH” PROMISE   The first thing I look at on any funnel that I work on is its promise.   There are 3 “no duh” areas that people spend money in, and these are HEALTH, WEALTH & RELATIONSHIPS.   So the question that you need to answer is: “Does my product promise results in either Health, Wealth, or Relationships?”   These are the “no duh” places for people to spend money in. They are the basic tha
Released:
Jul 17, 2018
Format:
Podcast episode

Titles in the series (100)

My first 5 years in entrepreneurship was 34 painful product failures in a row (you heard me). Finally, on #35 it clicked, and for the next 4 years, 55 NEW offers made over $11m. I’ve learned enough to see a few flaws in my baby business… So, as entrepreneurs do, I built it up, just to burn it ALL down; deleting 50 products, and starting fresh. We’re a group of capitalist pig-loving entrepreneurs who are actively trying to get rich and give back. Be sure to download Season 1: From $0 to $5m for free at https://salesfunnelradio.com I’m your host, Steve J Larsen, and welcome to Sales Funnel Radio Season 2: Journey $100M