– Hey capitalists, welcome to Capitalism TV.
I’m Ryan Daniel Moran.
Today, we’re gonna talkabout traffic and audience specifically when it comes to launching or growing a business, especially if you sell physical products oranything on the Internet, it’s more important thanever that you’ve got a group of people who are greedily wanting what you have to sell.
It’s when everything changesfor you as a company, and we’re gonna dive intothat in this video, enjoy.
(frame whooshing)(upbeat music) On my podcast and hereon the YouTube channel, I talk about the wordaudience quite a bit.
Audience, audience, audience, audience, audience, audience.
When I say the wordaudience, what I really mean is traffic that you control, and when you’re starting a business, it makes sense for you tobuild a business on Amazon or to sell informationproducts through affiliates or to rank your websites on Google because that’s where all the traffic is.
The time that you become a real business is when you start tocontrol your own traffic.
Otherwise, you are at the mercy of all of these other platforms.
That’s when an audience is.
It’s a group of buyers oreyeballs that you control so you’re not beholdento any other platform.
One of the biggestfrustrations that brands and physical product sellers struggle with is they’re on Shopify orthey’re running Facebook ads or they’re on Amazon, and they have nothing that they control, so they’re always afraidthat Facebook algorithm is gonna make a changeor Amazon’s gonna delete their reviews or they have a Shopify competitor come in.
They have on control.
Well when you have an audience, a group of people who want your stuff, that’s when you get out of that hole.
I also want you to knowthat when we talk about audience-building, a lotof entrepreneurs think that means having tens of thousands or hundreds of thousands of viewers, but that’s not the case.
The truth is you onlyneed a few hundred people paying attention for youto really move the needle.
In my book “12 Months to One Million, ” we talk about how tobuild up a small audience of a few hundred peoplethat gives you that leverage to launch new productsprofitably because if you can get a few hundred people to buy your products at full price the day it launches, there’s a good chance thatproduct has at least a shot at being successful.
You’re gonna get reviews easier.
You’re gonna have morepeople take upsells.
You’re gonna have moregoodwill on social media.
You’re gonna have morepeople referring your product to other people, so that’swhy it’s so important to have a few peoplewho are really excited about your brand or yourbusiness or your product.
It doesn’t require thatyou have an influencer.
It doesn’t require thatyou’ve got 10, 000 followers, and it doesn’t require you to be putting out a ton of content.
What it does require isthat you have a small group of people who are willingto support your business the day that it goes live, and if and when you do that, you’ll have a huge advantageover all of your competitors.
(frame whooshing) I made the majority of mywealth building a small company called Sheer Strength Labswhich was a performance company for people who work out.
We sold pre-workouts and we sold creatine, we sold all kinds of stuff.
Unfortunately after I sold that company, the company that acquired it was not able to keep up with theperformance that we had, and one of my analysesfrom why they were not able to continue itwas because they forgot about the audience and they started just going after the productand they just started trying to sell more and sell more.
They forgot about thatraving, core group of fans that built up the companyfrom the beginning, and that is the dangerwith a lot of big companies where they forget aboutthe person and the audience behind what is fueling it, and so they start extracting rather than serving their audience, but keep this in mind.
That business when I was at the helm, when my partner Matt and I were running it pretty much ourselves with avery small group of people, we never had an audience ofmore than five to 10, 000 people.
We had a small email list, we had a small Instagram following, a very, very small blog following.
We did not have a huge audience, but we had enough to do damage.
We had enough to wherewhen we wanted to launch a new product, we couldsell 500 to 1, 000 units of that new product.
It didn’t require us tohave a lot of followers.
It just mattered how responsive they were.
This is also the piece offeedback that I give people when they’re working with influencers.
It doesn’t matter if thatperson has a million followers or 10, 000 followers.
What matters is theresponsiveness of that audience.
Influence is when you have a relationship with a core group of people that will listen to what you say.
That’s what’s so important when it comes to audience-building.
My hope by telling you all of this and beating this idea todeath is that it sets you free to go focus on the very small things that you think aren’tworth your attention, but the truth is they move mountains.
When we sold Sheer Strength, we started that company with $600.
We grew it to $16million, and that was with a very small audience.
Every single person matters.
Every like, every comment, every email, every purchase matters, and if you go all-in on that core group of people, it will serve youdividends for years to come without you having toproduce a lot of content.
It just matters that you’vegot a core group of people that love what you’re up to.
Now when building a business, I popularized this ideain 2014 when I released the presentation going fromzero to $1 million a year on Amazon in 12 months or less.
It was also the foundation of my book “12 Months to One Million, ” and the strategy has not changed.
The foundation of it has not changed, but there is one tweak to it.
Here’s a summary of thatoverall idea of going from zero to a million dollars in 12 months or less.
(frame whooshing) 2014, I gave this talk for the first time.
It’s been seen on YouTube1.
7 million times, and today what I’m gonnagive you is the updated path.
The updated plan to $1, 000, 000.
For those of you whoraised your hand and said I’m doing under a million rightnow, we’re gonna fix that.
This has only been tested andproven a few hundred times.
We break this process into three stages.
Stage one is about three months.
I call this the grind.
You are grinding your way toevery sale, every follower, every eyeball so thatthey pay attention to you and the next three to fiveproducts that you will release.
Your challenge in thisphase of the process is that you are going to be tempted to think about products, not people.
The thing that will keep youstuck during this grind phase is that you will want tothink about what do I sell, not who do I serve.
You’ll make excuses likeI don’t have an audience.
I don’t know who my person is.
You will think who buys thisrather than who do I serve.
You solve this immediately whenyou address these questions.
Who’s the person I’m targeting? Where are they trying to go, and what challenges dothey face on the way? Your job, the way you get paid, is to look at who that personis, where they’re going, and give them the products that they need to go on that journey.
Yeah, but I sell knee sleeves.
No you don’t, you helppeople get out of pain.
Who’s in pain? That’s where you start.
Your second three months, I call it the growth.
This is where things get good.
Maintain sales on product number one.
You do that by goingall-in on your audience and getting reviews.
Notice I did not say anythingabout incentivizing reviews.
I did not say anything about discounts.
It’s going all-in on thepeople that want your brand.
That’s how you scale.
That’s how you build.
No one here follows a brandbecause they got cheap shit.
If you get people tobuy into your business and how you’re showing up for them, you get reviews just by asking.
The last half of your year iswhen you cross the million.
We call this the gold.
This is your only job isto release more products through the system.
Stage one is proving the system.
Two, optimizing the system.
Three, deploying the system.
That’s how you build a business.
(frame whooshing) If you have a small collection of eyeballs that are listening to what you’re up to, you can get to the million much faster.
It also gives you moreleeway in things like prices, reviews, algorithms because if you’ve got a little bit of controlwith that group of people, then you’re not as beholden to the changes that other companies make, and that’s when you’re really free.
I want to show you a clipthat I did with Courtney who is somebody that I’ve invested in, a business that I’m really excited about, and it’s a brand that was all audience, did not have any platform at all.
Was not using Amazon orShopify or anything well.
All they did was audience, and that gave her a lot of leeway in profitmargin and the types of products that she was able torelease, so watch this.
(frame whooshing) You’ve done seven figures insales just recently, right? – Oh yeah.
– Oh yeah.
(both laughing) Cheers to that, cheers to that, and then has it mostly gone through word of mouth since then?- Yep.
I didn’t start doing paid, like digital marketing, like Instagram and Facebookads until end of July of 2019, so for a year and ahalf, it grew completely just from total organic.
– It’s amazing.
Mostly social media.
– You posting some, otherpeople posting about you, and now you’ve run some ads.
What type of ads are you running? – And ads are such a weird thing for me because I hate how most companies do ads, and I feel like most– – Most companies are terrible at it.
– Yeah, and it’s just is notauthentic and genuine to me, so if I run an ad, it’son a post that I did showing here’s a tip onhow to use it, or like, you’ve been looking, likewhat do you need help with? I hear a lot of here’s two reasons why people are looking at my product.
Which one do you fit in, and like that’s the video, that’s the kinda contentpiece that goes out because people are justwanting to ingest and look, and they’re lurkers, they’re lurkers right now, and so for me, it’s more autonomous.
This is welcoming, I’m here to help you, not to sell to you, so regardless of whetheryou buy from me or not, I will, like I spent 45minutes on Facebook Messenger with a woman this morningjust helping her custom, like helping her figure out howthis will work into her day, and at the end of it, she’s like I’m so pumped.
I love Primal, you’re the best, and I think that’s what helped me grow, and that’s the differentiation point, It’s not about tactics, it’s be a human because every brand is pushing this, they’re pushing the same minimalistic and professional, polished look, and they just wanna talk to someone.
Like talk to me aboutmy life and my health because I need this.
– So basically what I just heard yousay is that most brands are focused on looking like a brand rather than serving people, – 100% – and you flipped it, likeI’m just gonna serve people.
– I’m just here to help you, I’m not here to sell you.
If you wanna buy from me, totally cool or like great.
If you don’t, no problem.
– I’m so happy to hear you say that.
(frame whooshing) All that goodwill that Courtney built up with her customers and herfollowers was a leverage point for her to get to thatmillion faster without being an Amazon expert or a Facebook ads expert or an expert in anything exceptwhat her customer wanted, and that was what enticedme to reach out to her and express interest in investing because when you’ve gotthat piece dialed in, everything else becomes a lot easier.
Now of course, the question from here is well how do you do that? How do you build up that core group? It starts by having a great product.
It starts by having theproduct that serves the person that it is that’s buying it.
So if you’re selling physical products on Amazon for example, it requires you to beinsanely curious about why that person chose your productover someone else’s product.
It requires you to listento the market feedback and read reviews of yourcompetitors and of your own product rather than just trying to get more to cover up your product inefficiencies.
I know a lot of physical product sellers who are just trying to add more reviews to disguise their brokenproduct rather than having a great product that naturallyattracts a lot of reviews.
Guess what, when you focuson what people really want, you’ve got a company thatyou can effortlessly, I can’t even say the wordwithout effort.
(laughs) I sometimes hold workshopsat my home for Tribe members or for members going through our training, Eight Figure Exits, and my buddy Max who is also a businesspartner of mine comes in and shares his strategy for connecting with the person behind the purchase.
Here is a clip of himsharing how he discovers who is behind the purchase.
(frame whooshing) – I would say that you build brands for your ideal customer, the avatar, and you market to segments.
So you’re really focusedon just that one version of your ideal customer, but as you get bigger, as your resources expand, as your team expands, as your audience expands, you can start to figure out like okay, what are thedifferent versions of this person that I can hit with, lead with a differentpain point essentially.
From the second they wake upto the second they go to sleep, what does that day look like, and then what is the rolethat your product plays or that your brand can playin the course of that day, realistically, likeeverybody has goals, right? They’re not just tryingto get through their day and just get to bed again, right.
They’re building to something.
They’re building a family, they’re building a career, they’re building a business, they’re building a body or a lifestyle or something like that.
Everybody’s building something, what are they building? What does the vision for that look like, and what is their relationshipwith your product category? Again, it’s easy when it’ssomething like sleep or skin care or something like that where you’re like what’s your relationshipwith your appearance, right, or how you look andall that kind of stuff, and these are questionsthat we’re gonna sit here, and I wanna go through in kind of like a theoretical exercise, but I highly encourage you to have a conversationwith your customers.
I wouldn’t have been able todo that work on the Bath Bombs if I hadn’t had thoseconversations and heard the emotion in theirvoice as they describe what their day looks like.
These conversationsagain are more about like what can I play into? What’s available to me from a product development standpoint, from a marketing standpointwhere I’m gonna add value to this person’s life and make them feel better about themselvesand make that good day feel more achievable.
(frame whooshing) – What a concept, talkingto your customers.
If you are in this only for the money, then you are going toresist all of the work that it requires to serve your customer.
The weird thing about thisis if you serve the customer, you get the money, butif you’re after the money and you forget the customer, you don’t get either one.
One of the most commonlyasked questions I’m asked is what product do I sell? An easier question toanswer is what person do I wanna serve, and when you know that, it’s really easy to identify what products you’re gonna sell to that person, and it also makes it easier foryou to speak to that person, to target that person, tothink about how would we serve that person in new and creative ways that nobody has ever done before? That’s when you get tohave a real business.
If you are starting your journey and you wanna do this the right way, or if you’re running abusiness and you’re having a hard time scaling past sevenfigures and you wanna build a seven-figure business that you can sell, we do that inside of the Tribe.
The Tribe is kind of an incubatorwhere we teach this stuff, we coach this stuff, and wehelp people build businesses that they can sell, so you canclick this link right here.
com/tribe, and that will take you over to more information aboutwhat we do for entrepreneurs who are building something they can sell.
Hope you found value in this video.
We’d love to hear yourthoughts in the comments, and as a capitalist, I justwant to again thank you for being one of thosegreedy entrepreneurs who wants to make adifference in your life and your family and theworld, how dare you! You’re part of a communityhere at capitalism.
We exist to empower those weird ones to go create change in the world, so thank you for being one of them.
We’ve very proud to haveyou as part of your journey.
Thanks for watching.