Niching down allows your business to become a big fish in a small pond. By targeting a specific segment of the market, your offerings can be tailored to meet the unique needs and preferences of your audience, thereby increasing your value proposition and customer loyalty. This is a real-life example of why niching works.
Many businesses fail to analyse the impacts of promoting multiple SKUs The lifetime value of your customers is different depending on which products your customers bought first Think about the user journey for each product From the point of unboxing your product To feeling the quality your product To using your product Each product has a different experience And, most of the time, your most popular products have that "magic moment" that makes your customers fall in love with your brand and buy more The mistake brand owners make is thinking every product has this magic moment As a result, they promote 100's of different SKUs for new customers But, what if the first product a new customer buys from you isn't your best product? Your customers have a terrible experience and don't end up becoming a long-term customer Because the only time your new customers gave you a chance, you blew it So, it's in our best interest that if we want to scale, we want to control the user experience and ensure any new customers we bring onboard have the best purchase experience as possible And the way to do that, is to focus on the products that produced the highest LTV overtime Don't just analyse the effectiveness of products from a 1-time purchase Analyse your products from a lifetime value perspect
Is it better to be niche or be a generalist and market to everyone? Something to consider is your target market doesn't necessarily have to be your only target market. Just because you market to one particular segment, it doesn't mean you don't take on other types of customers. But, if you want to stand out and gain traction, you need to be known for something. When you pick everything, you are nothing to nobody. When you pick one thing, you are something to somebody. It is better to go narrow and then go wide in your marketing. But that doesn't mean in the beginning you have to turn away customers. You can have your cake and eat it too. Just don't tell anyone you had both.
Whether you're a budding entrepreneur, a seasoned leader, or a team manager, understanding the dynamics of effective people management and culture building is key to unlocking your team's full potential. In this episode, we explore: - The core principles of managing people in today's diverse and dynamic work environment. - Strategies for fostering a winning culture that promotes growth, innovation, and resilience. - The role of communication, recognition, and shared values in building a cohesive and motivated team. - Practical tips for overcoming common management challenges and enhancing team productivity. Join us as we delve into the art and science of transforming your workplace through strategic leadership and cultural excellence. Learn how to inspire, motivate, and guide your team towards unparalleled success.
Everyone claims to have the best quality product. This is a mistake. A lot of companies focus on features that logically make their product more superior than competitors. But, the problem is you're seen as just another brand claiming to be the best. Marketing is a game of mental warfare. It's not a battle of who has the best products, it's a battle of who has the best perceptions. So, to differentiate your product against your competitors, it's important to focus on benefits. Benefits are what people actually care about. It's the emotions that people feel that drive behaviour. If you're looking to differentiate your business, focus on the emotions and benefits of your product.
Facebook Pixels For Lead Generation Campaigns by The Journey w/ Jason Le
If your business is broken and you don't have the foundations in place... Using paid ads will do nothing but drive more eyeballs to your broken business You need to make sure the foundations are set first Once you have a proven product with social proof that people love and keep coming back for And you have enough time and capital to invest... That's when you invest in paid ads We need to re-wire our brains to think about paid ads as the nitrous oxide for our cars Nitrous oxide alone doesn't do much unless you have a working engine and the car itself to begin with It's an add-on to make you go faster Paid ads doesn't plug all the holes in your business and save you from impending doom Make sure the foundations are set first before you worry about scaling your paid advertising
Jason talks about why businesses need to consider using an omni-channel approach for their digital marketing and how to determine what platforms you need to use for your business.
Jason sits down with Kevin Chan (Co-Founder at Unwanted Fc) to discuss bringing his passion for Football, Fashion and Sustainability together to create a movement amongst a tight-knit community.
Jason sits down with Cormac Gray to discuss his journey from accountant to running an ecommerce marketing agency managing 7 employees and 45 clients - all at the age of 23 years old.
Jason & Jacob sit down to discuss where business owners should spend their money and whether it is better to use a marketing agency or take their marketing in-house.
Jason sits down with Rylan Kindness to discuss the marketing tactics used to build Australia's number 1 parking discounting platform and how he's navigating his business through a pandemic.
Jason sits down with Gerard Doyle to discuss the importance of adapting to the digital age and how business owners can use marketing to stand out in saturated markets.
Jason sits down with Mitchell Robinson from IDU Identification to discuss running a 12-person company at the age of 18, the struggles of being a teenager in business and how you can succeed in building your own company.
Jason sits down with Dave Hyman from Reform Digital to discuss the challenges of building an agency in the middle of a pandemic, anxiety as a business owner and how people can succeed in the ecommerce space.
The JRNY Digital Marketing Show - Episode 1: Meet The Founders At JRNY Digital by JRNY Digital Marketing Show