4 hacks to hitting a new market
Aug 20, 2021
- Handpicked with Naomi Simson: tips on staying relevant
- 10 Bitcoin Golden Tickets: value up 28%
- But first, how to hit a new market
What I love about the pandemic is how it’s forcing businesses to pivot and innovate new ways of doing things. It’s the number one question I get asked lately: how do you do it?
I’ve known Rita Agoulian for a number of years and I love watching her business grow. Rita is the Chief Eating Officer and Founder of Lick Your Phone, a boutique social media agency specifically curated for the hospitality industry. Rita is working on building an academy to teach people how to grow their brand on social media and I spoke to her on my show Ticker Ventures, with Mike Loder.
Rita asked me how to research a new market and here are some tips I shared:
1. Give people what they want
The best way to give people what they want is to simply ask them. I have a “90:10” rule when it comes to customer feedback. Speak for 10% of the time and listen for 90%. Ask questions, ask why, ask why again, then ask why again. You will hit some insights that could unlock your next product idea.
2. What’s your giveaway?
What are the things that your customers potentially might want? Can you offer them a little sample? This is a great way to build trust. It's called the principle of reciprocity. If I give you something you feel inclined to give me something back. And that's what you're trying to do. You're trying to create this value upfront.
For my new book, “Go Live! 10 Principles to Launch a Global Empire”, I’m offering the first chapter free. It’s a way to give my readers a taste to see if they like it and if they want to read more they can buy the book.
3. Build escalation
Create a journey of escalation. After your customer does something with you, such as read an article on your website, or buy your product or service, what can they do next?
I’ve created this journey with my readers where they can get a chapter, read my book, there’s a webinar they can watch, a course they can enroll in, and a membership.
4. Find your space
The challenge is to find your unique angle in your space. There’s a lot of stuff out there that’s kind of generic. You need to constantly think outside the box and create something unique.
To watch the full episode check it out here.
⚡️ HANDPICKED PODCAST WITH NAOMI SIMSON ⚡️
I recently joined Naomi Simson on her podcast Handpicked. I asked Naomi about staying relevant as an author.
The founder of experience platform Red Balloon, Naomi has written several books and Go Live! is my first proper book I've written so I’m keen to learn as much as I can from everyone around me.
Naomi said there are some key things to focus on:
1. Association
No matter what product you’re selling, it’s key to promote it in your market. Use social media and showcase your customers and reviewers.
2. Keep it going
Naomi says keep your promotion going for as long as possible. Create a continuous, always-on, marketing machine where you can keep your product out there in content and conversations
3. Don’t fake it
Be authentic and real. Create things that you’re passionate about. It will be easier to believe in your vision and get others excited about your ideas.
⚡️ 10 GOLDEN TICKETS ⚡️
Since I announced that there are 10 Bitcoin Golden Tickets inside 10 lucky books of Go Live! last month, the price of BTC increased 28%. That means every ticket is now worth 28% more!
I’ve hidden 10 tickets worth a total of $1000 inside 10 books, and each ticket is worth a different amount.
No one has yet come forward with a ticket. If you’ve bought your book, don’t forget to check inside for your ticket and if you haven't yet bought your copy, there are still 10 tickets out there!
Hit up Amazon.com.au or Booktopia for a copy in Australia, or if you’re anywhere else in the world you can buy it on Amazon.com.
PS…
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⚡️ DEVELOP YOUR BUSINESS IDEA! ⚡️
Check out my online course “Go Live! With Fred Schebesta: How to Develop Your Business Idea” and I’ll take you through my proven process for launching businesses to success.
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