In this episode, Kris Sugatan chats with Alexander Ulreich, CEO of STRAT3GIC Marketing Agency, on the importance of understanding your audience’s pain points, building a solution for them, creating an irresistible offer, and delivering on your brand promises.
Based on the belief that understanding your customer is fundamental to the success of your business, Kris and Alexander discuss their personal experiences growing brands with this underlying methodology.
Here’s what we cover during episode #61:
- 05:25 – Every sale comes down to these essential questions
- 06:50 – Highly converting businesses come down to the basics: Can you get someone’s attention for a message you want to deliver? Do you have an offer that’s really irresistible? Do you have a product that draws attention? Can you funnel them through an experience that at the end of that experience, they buy?
- 07:44 – The magic of Sarah Blakely and the beginning stages of her success
- 09:20 – Every founder gets lost in their persona marketing
- 10:02 – Many business owners are afraid to commit to a core avatar
- 12:11 – You can only scale a business if your funnel is already converting and the product is already selling well
- 12:52 – Think less about demographics and more about the consumer’s pain points
- 14:21 – For example, Groupon is not about character demographics, it’s about the shared pain points of not being willing to pay full price for certain experiences.
- 15:35 – How can you make your product be such an amazing offer that people genuinely want to buy it?
- 15:40 – At Groupon, our end goal was not to sell Groupon, it was to sell the businesses and the experiences that they offered.
- 15:59 – The theory was that Groupon could fill non-busy hours of your business to increase your bottom line and that the consumer would enjoy the experience so much that they would come back and pay full price.
- 16:22 – You need to find the pain point that people are willing to solve and are willing to pay money to make it go away.
- 16:45 – How to take a transactional business purchase and communicate the pain points to sell more products.
- 17:13 – Once you’ve identified the pain points of a demographic, you can sell so many more products than originally planned to them.
- 17:46 – Up to this point, we haven’t even talked about popular marketing strategies, because it doesn’t matter.
- 18:02 – The journey of how people buy does not matter. People will buy in various ways.
- 19:27 – It’s more about finding a pain point, build the solution, create an offer that is so amazingly irresistible, and then deliver.
- 19:50 – “If you take away from a smoker, his last pack of cigarettes at 1am. He would probably walk to the next city just to get a pack of cigarettes because it’s so important to him.” – Zig Ziglar
- 20:48 – Casper was the first brand to speak to the millennial demographic in a way that was relatable and created an irresistible offer.
- 21:06 – How do you go about finding the irresistible offer for clients and businesses?
- 24:10 – The amount of increase in conversion that you get with such an irresistible offer is so much higher than whatever refund rate you will face that it’s worth it.
- 24:32 – Excluding past purchasers in your ad campaigns is one of the stupidest things you can do because your past purchasers are the ones that know your product and they’re most willing to comment about your product if they see that ad again.
- 27:00 – You will have people who gamify the system with your irresistible offers, but those few that play the game are worth it for the bigger accounts that we probably would have never hired us in the first place.
- 29:28 – You can only win if you believe so much in your product and your audience that you think whatever happens, “I want my customers to be happy!”
- 29:48 – If your customer is not happy, you don’t deserve their money.
- 31:12 – Someone who falls in love with your business will tell everyone they know about your business.
- 33:22 – You have to optimize and perfect your product for people to truly fall in love with it.
- 35:28 – Your growth rate and the size of your business depends 100% on the market you are in and the trends behind it.
- 38:32 – You cannot predict when and where the next trends will be.
- 39:45 – If you want to build a brand, forget about your monetary goals.
- 40:20 – The only thing you have influence on is building an audience and that’s what you should focus on. Find an audience that you could fall in love with.
- 43:55 – It’s easier than ever before to create an audience around your principles.
- 45:07 – Your audience is everywhere.
- 45:51 – Find someone who already owns your audience and get your brand in front of them with a partnership.
- 47:32 – How to engage with your audience through Facebook groups and Reddit
- 49:40 – If you already have an audience, now it’s time to optimize it and truly get to know them.
- 50:32 – People judge your company by your organic reactions to them.
- 55:24 – You have to really want to serve the people you are selling to. And not just in discounts and offers.
- 56:14 – A lot of people like talking the technical part of marketing because it’s sexier, but that’s not the part that’s actually growing businesses.
- 59:17 – The only thing you should do is understand your customer and predict their next moves.
- 59:54 – Focus on understanding on who you are trying to serve.
Follow Sugatan on social media for more interesting content:
Mentioned in the episode:
Last 3 Episodes: