This post is part of the 📖 Oversubscribed series.
Today, I am reading a chapter STANDING OUT IN A NOISY MARKET from the PART 1 of the book Oversubscribed: How To Get People Lining Up To Do Business With You written by Author, Daniel Priestley.
Are you constantly chasing customers? Why does it seem like some businesses have their customers begging to purchase their goods or services?
Learn how to get your business oversubscribed in a crowded marketplace to make your business stand out and get people lining up to do business with you.
The Book Oversubscribed is the guide to transforming your business into one which customers fight over! This invaluable guide will teach you how to drive demand for your products or services far beyond supply and will dramatically increase the success of your business.
Yesterday, we started reading PRINCIPLE 2 THE ONLY PEOPLE THAT MATTER ARE YOUR PEOPLE and left in the middle of it.
THE ONLY PEOPLE THAT MATTER ARE YOUR PEOPLE
STANDING OUT IN A NOISY MARKET
The world has become a noisy marketplace full of vendors thrusting their products in front of people hundreds of times each day.
It’s had the effect of conditioning people to become numb to most forms of marketing.
In a noisy market, gimmicks don’t work, hassling people doesn’t work and interrupting peoples’ day doesn’t work.
However, the one thing people will never grow tired of is seeing someone they know, like and trust, which appears out of the crowded sea of unknown faces.
You must lay the foundations for people to get to know you, like you and trust you at scale.
The true test of whether your business can show up in a meaningful way is the ability for someone to binge on your online content for a total of 7 hours, 11 interactions, and 4 locations.
What they are looking for is credible and valuable content. They want insights, stories, examples, demonstrations and interesting facts.
FIRST MAKE YOUR MARKET THEN MAKE YOUR SALES
Taking a product to the market is very different from taking a product to your market.
Your market can’t wait to see what you are doing next; they want to engage with you more, and they’re interested in your latest creation.
The broader market couldn’t care less. Oversubscribed businesses never take products to the market. They don’t create something and try to sell it to just anyone.
SIGNALS OUT, SIGNALS IN
In our fantasies, we create a product, clearly describe it’s features, advantages and benefits and then people buy it.
Unfortunately, humans don’t work this way; we require some warming up.
Even when you are dealing with your market of people who know you, like you and trust you, it’s unwise to expect them to go from hearing about a product or service straight to buying it.
Along the way, there are many micro‐decisions that people want to make, and these micro‐decisions require more information or more trust.
Warming people up is about educating and entertaining people so they can make these micro‐decisions.
Long before you ask them to buy something, you ask for much smaller commitments called signals. Paying careful attention to the signals people are giving, you will easily recognise when you are oversubscribed.
Successfully oversubscribed businesses launch products and services only to those who have expressed interest.
First you make a market, a product, then sales will follow.
Up to now, we read three principles
- ONLY OVERSUBSCRIBED BUSINESSES MAKE A PROFIT
- THE ONLY PEOPLE THAT MATTER ARE YOUR PEOPLE
- FIRST MAKE YOUR MARKET THEN MAKE YOUR SALES
That’s it for today. Tomorrow, we will continue to read the PRINCIPLE 3- FIRST MAKE YOUR MARKET THEN MAKE YOUR SALES section.
Author(s): Daniel Priestley
Part 5 of 30 in the 📖 Oversubscribed book series.