TFF #012 - 4 Elements of 7-Figure + Marketing Strategies
November 9, 2023
📌 Mitch Wilder
Thank you to our sponsors who keep this newsletter free:
I’ve been managing 6, 7, and even 8-figure marketing campaigns for nearly 15 years now.
When you do something long enough it’s easy for things to blend together and it's important to understand exactly what works.
Especially when you’re spending hundreds of thousands, or even millions of other people's money on marketing and advertising.
A tactic or “hack” could stop working at any moment, and you must understand the principle behind why it worked in the first place.
That’s why a few years ago I audited all my top clients. To see what they all had in common.
To see the core principles behind their success.
I found these 4 things built the foundation that made their marketing strategy a success!
1) Beyond a Customer Avatar
The companies getting the best results had a deep understanding of their customer.
This went beyond the basic demographics and customer avatars.
The companies understood...
The problems the customer was facing.
The solutions the customer had tried.
The customer's motives and driving force.
How they thought about the problem.
Basically, they had a very good understanding of how the customer thought.
They were able to put themselves in the customer's shoes and see the world from their point of view.
This allowed them to "Enter the conversation taking place in the customer's mind" through their ad copy and core message.
As a result, the customer knew without a shadow of a doubt that these companies' products and services were exactly what they had been looking for.
They felt understood and buying objections melted away.
2) The Flagship Product Flywheel
A core product, or flagship product is the company's primary offer to the market.
The "thing" they're most known for.
For example:
McDonald's has The Big Mac
Burger King has The Whopper
Ford has the F-150
Apple has the iPhone
And the list goes on and on...
Yet, although it's a flagship product, and it's designed to be a perfect solution to the customer's problem it’s never “done”.
I discovered that the companies that were getting the best results with their marketing had an intense focus on how to improve their core product to make it a better fit for their perfect customer.
The company knows its customers and listens for their feedback.
The company improves the product based on understanding the customer's needs.
The company has a better product, which means they sell more of the product.
More sales means more customers and more feedback.
More customers and more feedback creates more revenue, which allows for more development of the product.
And the cycle continues giving the company a strong advantage in its market.
3) The top traffic sources
When the company understood its customers at a deep level, they also understood where they were spending time online.
This allowed them to choose the best advertising and marketing platforms to connect with their target customer.
They weren't selecting a traffic source simply because they saw a competitor was using it.
They were selecting their traffic sources because they knew…
Where their customers were spending their time (which platforms)
Why they were on those platforms
And how to reach them with a message there using paid and organic methods
As a result, they focused their efforts on driving traffic from the best sources and not wasting time and money on traffic sources that would bring sub-par results simply because a competitor is using it.
4) A simple sales process
A sales funnel is something that happens online.
A sales process takes into account the online sales funnel and the things that happen offline as well.
A sales process should be as simple as possible. This is because the more “moving parts” or the more complex the process, the more opportunity there is for things to break or fall through the cracks.
As one of my friends on LinkedIn likes to say:
“Simple scales, Fancy Fails”
This proved true for my clients. The clients getting the best results were using the most simple and straightforward sales processes and funnels.
They focused on mastering the basics:
Booking funnels and sales calls
Free trial funnels
Webinars and VSLs
Etc...
Complexity creates a negative customer experience, thus they avoided it at all costs.
Go beyond your customer avatar and get into the mind of your customer
Leverage the Flagship Product Flywheel
Choose traffic sources based on data and your customer's behaviors
Opt for simple sales processes over complex ones
As Tony Robins says “success leaves clues”.
So, follow the patterns set by top 7 and 8-figure companies. Follow the trail of breadcrumbs and clues they’ve left behind to become more successful in your own marketing.
Whenever you’re ready, here are 2 ways I can help you:
1. Join The Flywheel Community: Join other entrepreneurs, solopreneurs, creators, and small business owners who are learning to accelerate their business growth in the Flywheel community. Get access to LIVE Weekly collaboration calls, Breakout Sessions with experts, and make connections with others on the same journey you are! Join here FREE!
2. Join Quantum CMO: An innovative program that puts an experienced Chief Marketing Officer (CMO) at your fingertips at a price any business can afford! Get a fully custom Marketing Action Plan (MAP). Get help implementing your marketing strategy daily with live open office hours calls. Technical and strategic marketing help on demand. Join the waitlist!
Grow and Scale Your Business in Less Than 5 Minutes Per Week.
Join thousands of “The Friday Flywheel” subscribers. Get 1 actionable tip each week to attract more clients, build a profitable business, and ultimately grow your business faster.
Subscribed!
Oops! Something went wrong while submitting the form.
👋 Hi, I’m Mitch Wilder…
Entrepreneurs, business owners, and founders who want to grow by getting more leads and sales, are getting the frameworks they need to be successful by Joining The Friday Flywheel Newsletter!
Join 15k+ Others Today!
Subscribed!
Oops! Something went wrong while submitting the form.