Metaverse Phase One Director
- Sep 15, 2014
As the 9 continue to finalized their foundation, I took a step backward to make sure they identified their audience. So far one person has completed the customer profile and demographic trend, but what they sent in was nothing short of marvelous. It's more critical to do market research BEFORE you create a site, before your domain is registered since it'll be the foundation for your whole business. You might find out that you are trying to create a MFA (Made for Adsense) site with CPC (cost per click) at $0.05 - meaning terrible ROI for that vertical and you'd need literally 200K visitors a day at 1% CTR (click thru rate) for the $0.05 CPC to make $100 a day - if you are going to work on getting 200K visitors a day - $100 revenue is completely unacceptable at any level so that project is not even sustainable. You find these things out when you've done PROPER research.
When you write down a customer profile you commit ideas to paper which in itself is a powerful move. But now lets say you now have to hire an new employee or VA, you have something to give them so they understand your target audience better - that market research is critical to understanding your audience, their intent, their pain points, their specific interests and questions.
In the profile I got back the 9er stated their audience didn't read books, since they did the research on individual members. Then a couple lines later, they stated they would like to create a digital product like an ebook for the audience. Now obviously it maybe clear to you since I put the two sentences together that that might not work if they don't read books, but it might not have been clear to you as the person doing research on your customers until you committed it to paper like the 9 did, then have someone look it over. I've done tons of researching on different niches, and if I didn't write down the things I saw, I might not realize that I'm creating product that contradicts what my audience will digest - that's why having a second or third pair of eyes looking at your target demo and what you wrote down is important, since I've caught myself in situations where I was targeting audience members that don't read with ebooks - the solution - Youtube Videos and Video courses.
The key take away is - WRITE DOWN your customer profile and their Demographic Trends - then review it over and over, and have people that have marketing knowledge review it as well, when discussing this you'll come to conclusions that you may not have realized you've already subconsciously come to until you wrote it down.
What's important to understand as well is the behavior of your audience when they are on certain sites versus other sites. For instance someone Googling "cure foot fungus" is going to be more in the "I need to fix this now" mentality then someone surfing on Facebook. You can hard close a person coming to your site through that Googled key-phrase, versus the person on Facebook - that one you have to go in a little softer, since they aren't actively searching for a solution to the problem. The person with smelly feet might not even know they have "foot fungus" (I swear I'm assuming that's how foot fungus works, I just grab an idea out of the air), so they'll probably need to see an ad for "smelly feet problems", that educates them on what causes them. That's going to be a softer sell at first to educate, then you can hard close them after the soft pitch. But test everything.
The point, different audiences have a different mindset, and you can't serve the same landing page to people since they are at a different phase in the sales process - things to remember, where people land on your site is important too. THAT's the reason I state to get to know your audience before trying to traffic leak them. If you don't understand what is acceptable and what they like you'll be trying to hard close targets that aren't even educated on what's wrong with their feet.
Takeaway: Create different landing pages for different audience segments and tailor your message according to that platform and your engagement on it.
Homework: Customer Profile & Demographic Trends (Word Doc in Market Research Thread on WF - already assigned via Group PM).