Hey, internet business founder!
For this week’s episode of 3 Stories, we’re talking about your oxygen: runway.
For you to keep on building products that you care about, you need to earn funds that you’ll invest back in the biz.
To focus on selling your hard work, let’s talk about direct response marketing!
What’s this? It’s the kind of marketing built for immediate conversions. That’s so your hard work is closer to generating profits.
Watch the video now:
(Allan’s Narration) Direct response marketing for startups is the theme of this week’s 3 Stories.
This is especially for startups, for people who are passionately building products.
Why? We wanna keep on doing what we’re doing, right? You want runway. We want good cash flow.
That is why we are talking about sales and direct-response marketing which are efforts that lead to getting the market to purchase our hard work. Why? Because if you run out of funds, you will have to pause building products that you care about.
At the end of this video, you’ll get the actionable five-minute tips, so hang on tight.
My name is Allan from NorthStories.io and these are this week’s 3 Stories.
Let’s begin with story number one: What would you do in your first month as a sole product marketer of a startup working towards product-market fit?
As a product marketer, product-market fit very much sounds like your job description, but in startups, validation is just very important to absolutely everyone, just more so for you as the product marketer.
Why? Because you have the non-renewable resource of time that you don’t want to waste.
What’s my five-minute tip for getting the ball forward?
You wanna list 10 ideas of small offers.
The main thing that you want to test during your first month of being with a startup is if the market can commit to you, so you really wanna focus on charging money, right?
Later, you can optimize for good margins. Later, you can optimize for better products, for faster delivery, for easier operations.
But, does optimization matter if even your minimum viable product wouldn’t be purchased by the market?
That’s why you wanna list 10 small ideas that you can sell that are representative of your bigger vision, but these are just small transactions that you can get going right now and try to get to three customers as soon as possible.
Story number two: What is usually the one last thing that your customers see before they actually purchase?
I asked this question, and it’s getting quite a good response, and let us shift gears to ZMOT.
Now, the first moment of truth is when your prospect actually decides to purchase your product.
Now, what is ZMOT?
Popularized by Google, the zero moment of truth is when your prospect performs research to validate your deal.
They saw your deal somewhere, maybe through search or ads or social and they’re trying to do their homework.
If they’re happy with what they see, that is the zero moment of truth.
Now, when they’re trying to make the buying decision, what changes their mind, or what elicits their interest in actually making the buying decision?
Popular answers of the community at WarriorForum.com include discounts, coupons, testimonials, and scarcity.
Makes so much sense, so guys, keep on presenting discounts, coupons, testimonials, and time-bound offers.
My five-minute tip that’s very actionable to get the ball rolling is to Google search for your category’s buyers guide.
That is what people check out during the ZMOT.
Now, if you’re the buyer of your product and you’re assessing this specific solution versus the endless list of options for someone who might be looking for other ways to spend their dollars, what would you wanna research?
Are you gonna research for reviews or price comparison? That’s what you would usually see in a buyers guide, right? So you wanna audit the buyers guide, Googling and researching experience when a customer is looking for testimonials, reviews, coupons, time-bound offers, and alternatives.
Story number three: This is a new infographic that we’re creating at NorthStories.io and this is about the use of email marketing to turn customers into, to turn subscribers into customers.
- Number one, you wanna capture emails of leads so you can get in touch.
- Number two, you wanna actually keep in touch.
- Finally at some point, after delivering enough free value, you wanna present your offer.
This is very, very important.
My five-minute tip for getting the ball rolling is to actually schedule a time for you to send an email.
In this email, you will offer that small, tiny, little thing that will start the customer relationship out of the many leads that you collected.
The reason for this is people would rarely buy from you if you don’t present them the opportunity, if you don’t make the option available, if you don’t create some sort of deadline, if you don’t show them some sort of deal, right?
Well, inbound is fantastic and that is my specialization.
You also have to make your offers available. Don’t make it difficult for people to buy from you.
Make your stuff actually available.
And, you want to consider something time-bound. Like a discount, that’s an incentive.
During the zero moment of truth, that is the type of thing that people are looking at.
They’re looking for deals, testimonials, reviews, and maybe they’re alarmed if a deal is about to go away.
Let us talk about the three five minute tips.
Tip number one, you wanna list 10 ideas of small tiny little offers that you can share with the market so you can immediately validate if your big idea can actually get even a tiny little bit of traction, even in a way that is not optimized for your margins or for your speed of operations.
Number two, you wanna Google for your category’s buyers guide. What are you selling? Are you selling a web development service or a web site maker? Google for the corresponding buyers guide and see how the market compares options, see how the market looks at social proof like popularity, and use those details for your favor.
Finally, you wanna take action. So, within five minutes you can open up your calendar app and schedule sending an email. Perfection can happen later. For now, you wanna set a schedule, and then by that schedule, you’re gonna send an offer. You can consider creating a time-bound discount, but the point is with your leads, with your contacts that you have with you that you have been nurturing, finally present to them an opportunity to buy.
Alright, this is your turn. You wanna pledge your commitment.
You can share your plan with me on Twitter. My name is @AllanCaeg, CAEG, and this has been this week’s 3 Stories from NorthStories.io and keep up over here.