When it comes down to it, advertising is simply the quickest way to communicate to today’s customers. Effective advertising puts you in front of your customers whether they were looking for you or not. Combined with the right offer to get attention and drive consumers toward taking action, it’s the fastest way to create a windfall of revenue for a company.

With that being said, as a business owner, you need to assess whether you have all the steps in place to actually start advertising. As great as the upside is to advertising, not all businesses are in place where it makes sense for them to do it.

Today we’ll highlight the top three things that every business owner should know before they start spending on advertising.

Have the Right Processes in Place

The first step before you advertise is to make sure your business has processes in place that allow for you to effectively handle the leads that your advertising will bring you. The best marketers in the world driving the highest quality traffic won’t help your business if the process handling customers hasn’t been optimized to make sure they convert.

One example of this is an adequate sales structure.

Do you have a sales person or sales team that can properly handle the leads generated from advertising? Will they get emails with value add content on a regular basis so that you’re constantly in front of the customer? Will they be followed up with multiple times if they’re not available by phone that same day?

Without the proper process in place, the leads you receive will not be managed properly and you risk wasting all of the time, money, and energy that it took to acquire that lead.

Another thing to look at is whether you have an attractive offer for your customer.

If you don’t have offers that give your customers a reason to take action now and do business with you other than your insistence that they should, then you’ll have a tough time moving them through your sales cycle. This means that how you position what it is you’re selling needs to be considered before you spend money on promoting it. Every day there are GREAT products that are overlooked and outsold by good products, simply because the good product was made out to look more appealing. Even sliced bread needs a good offer.

Know Your Numbers

The second step in assessing if you are ready to advertise is to know your numbers. Knowing your number means that you are aware of all the following data for your business:

How much does one customer spend with you over the course of a few years? (long term value)

How much is it costing you now to acquire one customer?

Let’s focus in on the customer long term value. How do you profit off of one customer over the time they do business with you? This knowledge is key in order to get a clear understanding of what it would entail to actually see profit from advertising. Once you understand what one customer is worth, then you can set clear targets on the cost of acquiring new customers. Without this information, you’ll never know exactly how profitable or costly your advertising really is.

Loss Leader vs Long Term Value

Assuming you know your numbers, you can use a loss leader to build up your client base and grow your ecosystem of customers.

If you’re not familiar with the concept, a loss leader is a promotion that you lose money on to acquire the customer with the understanding that you’ll make money in the long term.

A great example of this is monthly subscriptions businesses. Oftentimes websites like a music streaming site will pay for advertising to attract customers knowing that they won’t make a profit in their first few months. If they charge $10 per month and they know that customers stay with them for an average of 14 months, then they’d be comfortable paying up to $140 per acquisition to build up their service. That means if they spent $2000 to get an influencer to promote their service and acquire 15 new paying customers from it, then that campaign would be positive ROI. If they earned 29 paying customers from that influencer’s audience then they’d actually double their money. This is how a loss leader works and it can be extremely profitable, but you have to know your numbers.

As an owner, you have to assess if your business is at a point where it could absorb this initial cost in return for longterm success.

Have a Place to Send Your Customers

The final step is to make sure you have an adequate place to send your customers once you have their attention. What this means is do you have a functional landing page or website that you are able to send your customer with a high rate of conversion?

What’s the point of doing all the hard work of the first two steps and lose the customer in the final step?

A good landing page will direct your customers to take specific actions when they get to your website. The purpose of the page should be to have a high percentage of getting them to do what you want them to do on that page. This means if you want them to download your e-book, the page should be funneling them towards that option. The download button with the opt-in fields should show as soon as they load the page. The messaging on the page should be in line with the ad that they saw to get there. The more that you do to make sure that the landing page is set up to convert, the more effective that your ad dollars are going to be for you.

For example, let’s say you own a professional painting business and your services include a variety of indoor and outdoor options. If you send your customers to a page in which they have to choose what type of job they need done, where they’re located, how big of an area needs to be painted, and then their contact information…you’re setting yourself up to get very few leads.

With a different page that clearly shows a call to action and has only a few fields to fill in such as name, phone number, and email you’re guaranteed to get more results.

Often times the page in the second example will convert at a much better rate than the first page, even the design isn’t as beautiful. The reason is that it’s simple and there’s less friction in the process. Attention span is shorter every decade and frankly, the fewer fields that a consumer has to fill in to submit their information the more likely the are to do it.

There’s so much more that goes into building a successful landing page and if you’re looking for an example of a high converting page you can always take a look at one of ours.

The key, as a business owner is to create a process for your customer that’s as simple as possible and gives you the highest chance of getting the business, whether that’s in person, over the phone, or online. Don’t miss this vital step if you ever plan to generate a lead or sell a product online.

In Closing

So in summary, the above are key items to have in mind before you spend on advertising. As a business owner, you need to make sure you have the right processes in place with your business, including an adequate sales process, and proven products. Always be aware of your business numbers including your customer’s long term value and how much it costs to acquire a customer. Lastly, it is important to have a functional landing page or website in place to send your customers that’s specifically geared towards getting them to take action.

If you’d like to learn more about how to advertise effectively, join us for our Marketing Mastermind HERE.

For more questions don’t hesitate to contact us at 10XProductions@grantcardone.com.

If you want to create messages that resonate with your audience, you need to know what they care about.” – Nate Elliott, Marketing Technology Advisor

Finding the target audience for your business is crucial to its success. When you concentrate on the people who are most in need of or interested in your product or service, there is a mutual benefit: You allocate your resources to the right efforts, and your customers spend their money on what they actually need. 

Let me give you an example: In 2017 Coca-Cola spent $3.96 Billion on advertising and promotion. By 2019 they are scaled to spend over $4 Billion in advertising and promotion. So what’s the moral of this story, your business will probably not outspend Coca-Cola or any business for that matter that has been in business for decades and has established die-hard followers and customers. So what is the alternative option?  That option is to identify your target audience so that you can maximize the effectiveness of your marketing and speak directly to your ideal client with your content.

This post will go over the definition of a target audience and provide some guidelines for identifying and understanding yours.

Who is Your Audience?

Let’s start by identifying your target audience. In order to identify your target audience you will need to answer the following questions: 

What is their..

Age?

Gender?

Location?

Income?

Interest?

If we were to use Cardone Advertising as an example company who would be our audience? Our audience would be any business owner who has a company who could benefit from finding customers and getting customers brought to them. 

So what would be their age range? 18-65+

Gender: Male or Female

Location: Now for Cardone Advertising, most businesses that we work with where we have the most experience, are in the United States.

Income: Six Figures 

Interests? Golfing/Yachting

Once our audience is identified we need to find out where they are getting their information from so that we can better target them on social media platforms.

Where do they get their information?

It is vital that once we have identified our audience, we find out where they are getting their information from. This is the second layer of figuring out how to properly create content for our audience. The questions below will help identify where they retrieve information from.

What websites do they frequent?

Blogs?

Conferences?

Influencers?

Here is are some examples below of where Cardone Advertising’s audience retrieves their information from:

Websites? Wallstreetjournal.comgrantcardone.com

Blogs: Small Business Administration, SCORE, Harvard Business Review

Conferences: 10X Growth Conference

Influencers: Grant Cardone

Once we identify where they get their information from the next step would be to determine what their goals and values are. 

Goals:

A goal is defined as an observable and measurable end result.

The audience’s main goal will be to increase the revenue of their business. If you as the content creator know this information before creating the content you can always cater your message with the goal in mind of helping your audience gain more revenue.

Now that we know the audience’s goal it’s important to also determine what their values are.

Values:

The first thing to note is that what your audience values can be different from their goals. Going back to our earlier example of our Cardone Audience, one thing that our audience values is quick communication. 

Most of our clients feel their time is very valuable and are extremely against wasting it. Also if they are loyal fans of GC, then they understand time equals wasted money. So since we know that we take pride in responding and getting things done quickly.

Challenges:

A challenge is any barrier that causes the audience to hit a cap or continue from moving forward in their business.

Maybe they have failed at advertising and marketing before and they do not know what to do now? Maybe they have been scarred by another agency and that has stolen their confidence and hope that advertising really works! These are real challenges, that hinder your audience from moving forward.

Pain Points

A pain point is the root problem a prospect or customer has. Businesses exist to solve their customers’ pain points. However, a large number of businesses and marketers do not actually understand their audiences true pain points. Instead, they think solutions are actually pain points.

Let’s use an example of a business owner who’s offices has very slow computers. The first thought would be to tell them, easy just change the computers. Although buying new computers is the solution, it would not be the pain point. The pain point could actually be that due to the slow computers, it is causing the salespeople to have faulty communication and therefore miss deals. This would be the actual pain point.  Understanding that as the pain point, and then catering your solution to that pain point is how you get your audience’s attention. When you create your content through the lens of your customer’s pain points your marketing becomes very different.

The key is that the solution should address the customer’s true pain point. The marketing shouldn’t be about the product, it should be about the alleviation of the pain point.

And keep in mind that the solution may not be the thing the customer asked for.

What’s next?

So what’s next is to create content that speaks to the challenges and pain points of your audience in order to draw their attention. You can learn more about creating the content and how to simplify the process of content creation in one of our other articles HERE.

So in summary, the most effective way to create content is to identify your audience, address their challenges, and speak to their pain points.

Hope this helps, and if you ever have any questions don’t hesitate to contact us at 10XProductions@grantcardone.com.

So in summary, the most effective way to create content is to identify your audience, address their challenges, and speak to their pain points.

How to create great content is one of the most common questions we receive here at Cardone Advertising.  Whether it be video content, blogs, or articles, companies want to know how to connect with their audience.

So, with that said, the focus of today’s article is going to be how we create content at Grant Cardone’s office. I’m going to share with you a 4-step formula that we use in-house to make sure the content we’re creating appeals to our audience and we’ll end it off with some examples of creating content we might use to promote different products so you can see the formula in action.

But first, why is content important?

When you post your content anywhere on the web, whether that’s social media or even just your website, you’re giving your audience another place that they can find you.

If the content you’re creating adds real value to your potential customers, then it must be something that solves a problem. And if it’s solving a problem, there’s a good chance it’s something they’d search for at some point or at least something that would catch their attention when they see it online.

Think of it like you’re fishing. You cast the lure, you leave it out there, and if it’s appealing you’re going to start getting bites. Don’t expect to get bites the moment you cast the line and put the lure out there. The longer you leave it out there and the more appealing it is, then the more attention it’s going to get you in the long run.

But this brings us to another key point, putting out a lot of content isn’t necessarily going to get you a lot of attention up front. While each piece of content is like another line out in the water, it doesn’t mean you’re going to get any bites immediately or any faster just because you’re flooding the pond with your lure.

Content, when done right, also builds trust for your brand. When you’ve genuinely helped someone out with information you offered free of charge, it builds goodwill. Enough goodwill in your brand is exactly what you’re looking to build your audience with.

Never forget that even in the B2B space, business don’t buy products. People buy products. And just like the door to door salesmen in the past made sales because of their relationship building skills, you’re going to have to do the same thing but in a new environment.

The difference is you have a huge advantage! Your content never goes away. You can start creating content on a regular basis and years from now you’ll still have people find you from articles or videos that you may not even remember that you made.

So now that we have identified WHY content is important, let’s move on the first step of our formula.

Step #1 – Identify Your Audience

Before creating content, the most vital step is to identify the correct audience.

Correct audience

The correct audience is the audience that is most likely to do business with you.

Example: Let’s say you are an agricultural store that sells farm tools. The first thing you must do is sit down and identify who would buy your product. You would do this by creating a list of answers to questions that will quickly help you identify the “target client”. For example:

  1. Age?
  2. Gender?
  3. Location?
  4. Occupation?
  5. Annual Income?
  6. Interests?
  7. Gurus/Authorities?
  8. Websites they frequent?
  9. Books they read?

Once these questions have been answered, you should be able to identify your correct audience. Once that audience is identified, you now know who it is you’re trying to reach. Whatever content you make needs to appeal to this individual.

Now, going back to the example, let’s say you are an Agricultural store and you answered the questions above and your target audience was a middle aged man whose occupation happens to be farming. Now you know the type of content you should be producing. So now moving forward you would always create content with farmers in mind. That’s not to say that farmers would be your only audience, maybe you might add in gardeners or people who have an interest in farming but farmers would always be the main audience you target with your content. After you have identified your audience, the next step would be to research that audience.

Researching the audience

When researching your audience you must identify what would attract this particular audience. As our example mentioned earlier if you were an agricultural store and you sold farm tools, after answering the client profile questions you now have identified that your main audience would be farmers. Your next task would be to research that audience to figure out what they are interested in. The next layer of the client profile would be to identify what your audience values.

  1. What are your customer’s goals?
  2. What does your customer value?
  3. What books do they read?
  4. What type of websites do they enjoy?
  5. What influencers or gurus do they follow?

These questions listed above will help you identify specifically what your customer would be interested in based on the previous data that they have shown interest in before.

Return on Investment if you have the wrong audience

No matter how valuable your content is, you will have little to no return on investment if you are marketing to the wrong audience. Many companies fail at this step, and it causes frustration and discouragement from wanting to post content at all because they’re not getting their intended result. The truth is, you can’t get the intended result when you’re not doing the right things to get what you want.

Earlier we discussed comparing content to fishing. There are certain fish that are attracted to certain lure. Most fishermen understand that you would not use the same lure for saltwater fish that you would use for freshwater fish. You probably would be very unsuccessful in catching the fish, not because your lure is not good, the lure is just not appealing for that type of fish. This is what happens when you post content to the wrong audience consistently. The audience is just not interested in your content no matter how valuable it is because it does not apply to them.

With that being said always create a client profile to prevent “ guessing” about who your correct audience is. This will save time and revenue. When you know what they’re interested in you can always refer back to that for content ideas.

Content Effectiveness

On the other hand when your content is effective and placed correctly not only will your content attract the correct audience, but the audience will identify you as a trusted source and that in return translates into business for you. When people get to know you, they can eventually trust you. People that trust you are likely to do business with you.

Step #2 – Identify Problems

The next step after identifying the audience is to identify the problem that your audience is experiencing. On your client profile, you need to identify two questions.

  1. What are the challenges for this person?
  2. What are the pain points because of those challenges?

Challenges

Once the client profile is complete you must identify what type of challenges your customers face on daily basis.

Let’s go back to our example of the farmer. What type of challenges would a farmer face?

  • Maybe the farmer faces the challenge of technology. Rural farming communities are expected to make an effort to integrate modern technology into an industry that has been around for centuries. Understanding how to do this in their business could be a large hurdle.
  • There could be environmental concern.
  • A surplus of supply compared to demand could cut down a farmers’ profits.

Once the challenges have been identified, now you must address the 2nd question which is what are the pain points because if these challenges?

Pain Points

When you think of pain points, think about what it costs or how it makes your prospect feel to have to deal with the problem.

A problem for a farmer could be he does not have the right technology and tools to stay current with the current farming climate. The pain point is that his business isn’t as profitable and he has less money to feed his family. We could even go a level further and say his pain point is a lack of financial security because of the problem.

Step #3 – Convey the Impact of the Problem

Impact of the Problem

In the previous step above, we identified the challenges and pain points of the client. Now in step 3 we must convey to the client the impact that the problem is having on their productivity or revenue.

One of the challenges we listed above with the farmer is that he may not have the latest technology or tools being used in his industry. How is this problem detrimental to his business? Without the proper technology, his effectiveness and time in planting crops could be drastically slowed down. If he is unable to produce the  amount of crops that needs for the season then that would in turn effect his revenue. If this cycle continues then eventually he would not be able to continue and would lose his business.

This is how detailed the impact of the problem needs to be conveyed in order to help them see how drastic of an issue they have.

Step #4 – Advice

Now that you have gotten the audience to understand the impact of their pain, the final step is to give them advice to solve their problems.

The advice given should be based off the information you have collected from the client profile.

The advice should provide value to the client. The advice should also offer a solution for their challenge and pain point.

A great example of content to provide for the farmer would be “7 Tips to Irrigate Your Land and Crops on a Budget?” or “ Which Farming Tools to Upgrade First for the Biggest Return on Your Investment.”

In our client profile we already identified that technology and cost could were a challenge so now this gives you the opportunity to provide content that is valuable.

Advice versus offering services

Advice is not to be confused with offering your services. One of the biggest mistakes you can make once you have conveyed the problem to your audience is to offer your service instead of advice. They ARE NOT THE SAME.

At this point, you have put in too much work in crafting your content to totally turn your audience off by offering a sales pitch instead of advice. Your audience will instantaneously put up barriers to a pitch, commercial, or ad where they can tell it’s trying to sell them something. The goal is to put content in front of them where you don’t ask for anything from the audience and you only give them valuable information that will help them. This is the way to establish trust.

SUMMARY

In summary, the above 4-step process should serve as a guide to post effective content to your audience.

Remember, your first step should be to Identify the Audience to make sure you are connecting to the right audience. Once the audience is identified the next step is to identify the common problems that the audience is facing. After the problem is identified, we need to convey the impact of the problem to the audience. This explains to them how the problem is impacting their revenue. Lastly, you want to provide valuable advice and a solution to their problem without offering any services.

 

To learn more about developing content and creating lead generation for your business

download our free guide here: https://10x.grantcardone.com/download

 

Be Great,

GC