Launching a new product or service can be incredibly stressful. There’s so much time and energy that goes into creating something new, it’s devastating if you can’t generate sales out of the gate. Now here’s a common mistake that 90% of online businesses make routinely.
Most business owners when marketing DO NOT understand the difference between a HOT, WARM, and COLD audiences. Hear me clearly: YOU CAN NOT market the same messaging to everyone, you have to understand how to segment your messaging based on your audience levels.
HOT audiences are those that have displayed a high level of interest in our services. The messaging that we want to serve to them is a traditional type of launch announcement. They care about products, so we can just alert them that we have a new product for them.
WARM audiences might know you, but have never really expressed interest before. So no, they are not going to care about you launching something else – we can’t just serve them the same messaging as our HOT audiences. So here is where you have to start to GIVE VALUE in order to GET ATTENTION. It’s literally why I am writing this email, giving you value, instead of just a video letting you know our product is live. After GIVING YOU VALUE, I earn the right to pitch you.
COLD audiences need an entirely different offer, one that allows you to speak to people who don’t know you. Again, if you try to run ads saying “hey pay for our service”, it’s not going to land. We have to understand the root of WHY they would be interested, then create an offer around that reason.
Finally, what are their major pain points? And if you can’t identify any MAJOR pain points with your targeted audience, it’s probably best you create a new product.
LISTEN, as a newer business with small margins and/or very little capital reserves you only want to sell to major need not luxury “this would be a nice feature” items. A good question to ask of your product market fit is simple, “will they go out of business or at best continue to struggle if they don’t resolve this problem”?
If the answer is a strong yes…there is likely an eager customer base waiting on your messages.