TCM 004: The need for specificity
Read time: 180 seconds.
Hey 👋 – Tom here.
Happy Saturday morning to 810 motivated ecommerce entrepreneurs.
Below is one short tip on marketing and revenue growth for your ecommerce business.
Enjoy & please do let me know if you have any questions whatsoever.
I'll always do my best to help if I can.
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When launching (or even re-launching) a brand online, you must get specific about who you're marketing to first.
I see too many would-be entrepreneurs chasing a "winning product".
I personally (this random dude on the internet that you invited into your inbox) believe they're doing things backwards.
1. Start with people, not product.
Chase a small group of people first.
You can expand on that audience later – but chances are your niche customers will take it to others for you.
As a brand owner, you must understand who your customer is.
Stop wasting time trying to hack together every marketing trick under the sun and go back to basics.
The basics will build a 7-8 figure business and brand, with a vocal and evangelical audience behind it.
That's something that can be sold for a hefty payday.
Not hacking the algorithm one time.
2. Research your target market beforehand:
- Where do they live?
- What job do they have?
- How much do they earn?
- Are they single, in a relationship, or married?
- Do they have kids?
- What age are they?
- Boy or girl?
- What are their hobbies?
- Where do they hang out on weekends?
Dive deep – genuinely understand who this person is & what drives them.
The more specific you can become about your ideal customers' lifestyle, the better.
Why get specific?
Getting specifics allows you to create content (landing pages, ad copy, ad creatives, etc.) that resonates with your audience uniquely and emotionally.
Remember: humans buy with emotions and justify with logic.
Building the foundation allows you to speak directly to your audience in terms they relate to.
In their language.
You'll stand out in a sea of noise by speaking directly to them.
Just like you hear your name when someone calls it in a packed-out store, despite dozens of other conversations happening around you.
Right?
Speak directly – you'll be able to anticipate obstacles & potential challenges your audience encounters when discovering your brand.
Developing a well-defined target audience takes time.
You won't always nail it the first time.
That's okay.
I promise it is.
You're better off taking shots in the dark, responding to feedback, and adapting.
Once you reach a point where your content resonates with a small group of people, you're off to the races.
My truth
If you want the absolute truth – my target market changes constantly based on customer feedback and who my customer base introduces us to.
For example, runners may take my brand to dog walkers, who take us to hikers, to skiers, to van life folks...
Where we started is different from where we often end up.
And the beauty of all this is that you can tweak your approach on a dime with a small, agile team.
Small yet mighty
Remember this, if nothing else:
👉 3 products at a $50 price point, selling 20 units daily = ~$1M annually.
or
👉 5 products at a $25 price point, selling 20 units daily = ~$1M annually.
or
👉 3 products at a $30 price point, selling 30 units daily = ~$1M annually.
Release 3 products over a year that serves the same audience at a $50 price point, sell them 20 times a day, and you're at the $1M+ mark.
You'll usually find that when someone discovers product #1, they'll buy #2 because it's also for them.
And those that find product #2 first will buy product #1, and then return for #3.
Each product complements the next.
Each new product release fuels sales of the other as more & more customers discover your brand and your solutions to their unique problems.
Because they're made for them.
You build an enormous amount of trust with a small group of humans.
Summary:
If you can create 3 products for the same person, solving for them specifically...
You only need to find 11,000 customers annually (that assumes they only buy one time).
However, if your products are consumable and your customer buys monthly, 925 people will get you to 7 figures*.
*Assumes 0% churn, sure – but the point stands.
You don't need millions of customers.
You may only need 925 loyal humans that love your brand, what you stand for, and your solution because it solves for them on a deeper level.
So don't shy away from getting granular.
Without specificity, there's no clarity in marketing — and no clarity means little to no chance of success.
Build for someone.
Build for just 925 people.
You may not need to go that big after all.
That's all for this Saturday. 1 simple ecommerce growth tip.
If you don't find value in these tips, please let me know or consider unsubscribing.
I won't mind, and there are no hard feelings.
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See you again next week.
Cheers!
Tom
P.S. Whenever you're ready, there are 2 ways I can help you:
- The Ecommerce OS: The same system I've used repeatedly to go from $0-1M in revenue profitably. (Launching March 2023)
- Work 1:1 With Me: To outline your goals, build a strategy, and develop a tactical action plan to grow your Shopify store. (200+ clients to date)
