03/02/2024
Ads, Traffic, Competing on Economics, Exploiting Platforms & Core Emotions Introduction:
Hey , many of you are trying to run paid ads for your company, but don't fully understand why or have a real game plan. I made this BANGER for my sister who is in the Recruiting Niche, this will help you tremendously, if you're not generating any traffic now.
So first you need to understand the purpose of ads.
Ads are used to generate attention/traffic to your website, message, offer, platform, product, service, brand.
There are 4 ways to generate traffic (aka ads/attention).
1 - Buy it - Pay to Play
2 - Borrow It
3 - Trade For It
4 - Own It
#5 BONUS WAY - EXPLOITING PLATFORMS MY FAV.
1 - Buying Attention/Ads - You’re asking yourself “how can i spend a dollar and get back two dollars.” – Where money flows, attention follows.
This is where you go on different platforms like Facebook, Google, Youtube, TikTok, Linkedin, Instagram, TV, Billboards, Newspapers, Direct Mail…Really any PLACE where your audience hangs out…is the best place to run an advertising campaign…the real name is called “Media Buying” because you are buying media space in exchange for a time slot or position in front of your audience.
The Challenge most Business Owners face with Buying Ads is that they cannot sustain it. Your funnel (sales/relationship process) needs to be FLAWLESS. If it's not you will burn straight through your budget, especially if you don't know how to media buy or if your MESSAGE DOESN'T RESONATE with your Market, and they don't want the thing you are selling.
The reason why E-Commerce product brands are able to scale so quickly is because 1 - They are getting paid back immediately – when a customer buys a hair product online from an ad the seller gets paid immediately and then in turn can take a portion of that money made to put back into the campaign. 2 - they have an outside capital to sustain the storm.
The difference between selling products online and services is the natural sales cycle that each lead goes through to become a customer. Most products don't have a long sales cycle, but if you're selling services your lead might not turn into a customer for 7 days, 14 days, 21 days, 60 days. And if you don't have capital or a way to generate income to refuel your ads, it's not going to work for a long time. In paid advertising, “Whoever has the most money will always win.” – the ad platforms don't care if your product is better – if an advertiser is willing to spend $30 to acquire a customer but another is willing to spend $75, the ad platform will give them the space and not you. This is where the philosophy of Competing on Economics comes to play.
ChatGPT’s Definition of Competing on Economics - Competing on economics means using your financial resources strategically to outperform competitors in the market. It involves understanding and leveraging your economic advantages, such as having more capital to spend on advertising, to gain a competitive edge. In simpler terms, it's about who can spend (money, time, energy) more wisely to attract customers and grow their business.
But it's not just about spending money, it's about who can lose more. Who can give the most without getting some back. Example a high ticket service and you are competing. The high ticket service offer runs ads and sells an info product for $12.99 with 3 upsells that equal $60 average order value. You see this and know that the market is doing the same things, so instead of you going to run ads and sell yours $8 or $3 which is just a long spiral down. You decide to compete on economics instead and exploit platforms and use the other 3 ways to generate traffic to your offer and now you offer that same info product for $0. It’s a slower growth but more sustainable than just going straight into ads, i'm not saying to never run ads, but run ads when you have a process/system that is already generating you income organically. And you can put that profit into the ads. I would say when you're generating around $20,000-$30,000+ a month organically I would start looking into running ads.
2 - Borrow It
Borrowing Attention, Borrowing Traffic simply means “You send me traffic and I'll pay you later for whoever decides to buy”...Yes it is an Affiliate Program and an agreement with your company and maybe an influencer or brand in your market that already has your market's attention. It’s a great way to grow your business because you're only paying when you get money.
In BuildBrands you have options to sign up Affiliates and you can set it up to pay them whenever they give you a new client or referral. There's a concept called social snowball, which is getting one person/affiliate to help you sell which in turns gets another affiliate, which gets another affiliate, which gets another affiliate, and you can grow really fast and STEADY like that. But you have to be creative and pay them so-so well.
3 - Trade Attention
Basically when you see interviews like the breakfast club or club shay shay, anything where “You want to interview me and I interview you” – literally trading with someone in your niche or an influencer that has the attention of your audience.
If you can't get in front of your audience by paying for it, then understand this one concept, someone already paid for it – already spent hours building it…someone already paid thousands to acquire your audience, find out who they are and make a deal with them. Or You can exploit platforms and scrape the internet to find groups,platforms with your audience already there and start Cold messaging them leading them to a VSL offer that someone in your market is charging $20-$3000 for – when you're giving out a better info/product for free.
4 - Own the Traffic - (Owning the Relationship/Data)
This is where every business owner wants to be but they don’t understand how to acquire someone into their ecosystem. That’s usually done by exchanging something. Usually some type of information that helps them get the result they are looking for. Something that bridges the gap from “Possibility —-> Attainability”
Real quick let's talk about Free info/Lead Magnets/VALUE….. You hear people talking about you have to give out VALUE, value, value…..but Most business owners don't know what the heck that even means they just talk about it and tell you to do it..so let's talk about what real value is….We understand that your desired customer has desires to achieve something…a certain result that they want…and value means something USEFUL that helps them get their desired result, that's it. Right, but now you need to understand what's something useful that my desired customer/market can use to help them get the desired result they are looking for?….in this case it's a new position they want. So you create something that makes it possible for them to attain that result….and in your marketing you talk about how others used this same mechanism/system to get what they want….this shows the market/audience that they can attain the same result just like those other people if they follow your instructions/info/work with you.
So you make checklists, courses, masterminds, etc…. One thing about those things I just mentioned is that it doesn't matter what you call it….dont get hooked on that…remember “Where money flows, attention follows. “... If your market is buying Masterminds, Courses, or Trainings or Webinars, You would want to try to offer something like that for Free. So it's like whatever the market is doing and selling, you do the opposite and give it out for free…hence competing on economics.
Customers will always be more valuable than Subscribers. Just keep that in mind. Once you get a new lead into your ecosystem the job isn't done yet. You need to stay on top of mind, and you do that by daily emails, more value, content, and literally talking to them and creating relationships with them…the better you know your market the better your lead magnets will be because you understand their problems better than they do themselves and you can solve it better than them because you did it multiple times already…but that doesn't mean that new problems dont arise or evolve so its VITAL to always have a pulse on your Market….
This brings me to one of the most important things i ever learned….and that's that instead of focusing mainly on problems when communicating with your audience…focus on the core emotions of the entire market….right and the best way to understand that is to understand that your customer is on a Journey…a transformational journey….of their identity…they are literally trying to become someone else….so a way to laser hit them is to focus on their core emotions.
Luckily for you I made a CHAT GPT prompt to easily find the core emotions of any market. Copy and paste this 2-step prompt into chat gpt and replace the yellow with your market:
Step 1: Copy and paste this - make sure to change the yellow to your market:
The key structure and learning outcomes frameworks of the emotional states of markets discussed in this text are as follows:
1. Markets exist because of unmet needs and wants. If these needs and wants are met, the market collapses.
2. The overall goal should be to collapse the market and become a utility.
3. Needs are more important than wants in driving buying decisions.
4. Sales processes include desire (want) and justification (need).
5. Products and services being sold in markets are often symbolic representations of the real wants and needs.
6. The core emotion of a market is the real want and need that is not being fulfilled.
7. Knowing the core emotion of the market allows for effective communication and marketing strategies.
8. Emotions are the base that generate change in markets.
9. People ultimately want to feel whole and complete and seek out products and services to fulfill this desire.
10. Understanding the core emotions of a market allows for targeted marketing and messaging.
11. Different markets have different core emotions, such as certainty in the crypto market and shame in the weight loss market.
12. Marketing should aim to fill or remove the core emotion to make customers feel complete or whole.
13. Effective marketing involves demonstrating value, showing the mechanism behind the product or service, and appealing to the core emotion of the market.
14. Copy cadence and rhythm can be used to create emotional engagement in marketing.
15. Layering emotions can enhance the marketing message and make customers feel even better after feeling complete.
16. The big idea in marketing can be a crutch and may not be as effective as understanding and appealing to core emotions and mechanisms.
17. Offers based on core emotions and mechanisms are more effective and less easily copied than offers based solely on the big idea.
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What would be top 10 variations of the core emotional states of:
[INSERT YOUR MARKET, DEMOGRAPHIC, PSYCHOGRAPHIC]
E.g - examples:
- To-Be-Mothers looking to join a Yoga Community
For - Mothers who want to avoid screen addiction for their children
- Home Builders customers during Drought Season
- Roofing or HVAC in Albuquerque
- video and graphic editors struggling to get clients online
Please rank each suggestion out of 10, based on emotional relevancy to the target audience, and intrinsic motivation toward making a purchasing decision if it were in messaging. Please sort the list in descending order.
Step 2: after you copy and paste and send it and it answers it …. copy and paste this – put the answer you get into your sales letter guts worksheet link below:
Using this list (core emotions):
How can i either add or remove these emotions to help them feel whole/compete give me examples of things i can say to fill or remove that void for them Please
—------------------ END of PROMPT—-------Continuing the notes now:
Now when you make content for social media, your lead magnets, emails, calls, dms, you can gauge how they are really feeling and either add to it or remove that emotion for them to feel whole/complete ← super important. Especially if you know their timeline/journey you can hammer it home.
Example: if they are overwhelmed about digital complexities. You can easily remove that emotion by allying their fears, and resonate with them even more and maybe make an accountability checklist for them to use everyday to get where they want to go and get the result they desire.
Also every new offer i do, i Create what i called a Sales Letter Guts Worksheet – I made a template here for you – THE TEMPLATE CLICK HERE. - Fill it out, it's only going to help you.
Next time we will talk about my favorite way to generate attention which is EXPLOITING PLATFORMS….till next time…Let me know youre niche below and ill tell you which one you should use!!!!
I promise i will post more for you all here!...
Remember.... You're Only One Idea Away - Jordan Ellerbe
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