I’m going to take you through my five-step niche-finding process to give you an audience to whom you can sell $25,000 marketing funnels.
Before committing any kind of resources, training, or investment into finding clients, wouldn’t it be good to know the exact type of audience that you’re going to go after?
Whether they’re going to buy from you, how much they’ll need to pay, what the best thing for you to sell what your actual offer is, and make sure that it’s worth $25,000.
We also want to make sure that we find an audience that you enjoy working with people that you’re going to want to work with for the next five, 10, 15, 20 years, or even longer.
So, with that, let’s talk through the five-stage W.I.N.G.S. Process that I use to find the perfect niche for funnel businesses.
As you can see on my whiteboard behind me here, I’ve got the word wings written out along the top and I’ve got five lines.
We’ve got two long lines, two medium lines, and a short line and you can follow along with this video to find the perfect niche for your business.
What is it that you do with your customers now? I want you to write a timeline of all the things that you do with your customers when they start and all the way to when they finish.
Now, if you’ve done a few projects, I just want you to brain dump, absolutely everything that you’re going put down here.
It doesn’t matter if you’ve done it once. If it’s something you think you want to do, don’t overthink it. I just want you to literally write out what it is that you do and what you deliver.
For example, maybe you help them with an audit to start with and you do lead generation. You know that you look at some of their like finances, so you can figure out where their next sales are.
You can do some cross-selling. Maybe you do email marketing with them. It actually doesn’t matter. All I want you to do is write out everything that you have delivered for clients or that you would deliver to clients from start to finish.
What I mean by start is the start of the relationship with them. Everything from the consulting to the design pieces all the way through to the end.
If you have recurring revenue or a subscription product, that’s great. You can still put those in as well. So I just want you to put a brain dump of absolutely everything that you are delivering.
Sandra Bullock, possibly my biggest celebrity crush, she says, “I’m controlling and I want everything orderly and I need lists. My mind goes a mile a minute. I’m difficult on every single level.”
Your business is a little bit like Sandra Bullock, and you need a list of everything that you are going to potentially deliver to your clients. We need a starting point and I find that most people tend to try and sell this section.
They try and sell the “W” or an actual fact, we are going to try and sell the “S” down here. So make sure you’ve got a list of everything that you sell from start to finish. Big projects, small projects, the individual stages.
What these means are two things. We’re going to use both sides of the line here. We’re going to use love and things that you are good at.
I want you to list out everything that you’ve put on the “What” axis and move it over on the “Interest” axis.
Now, if you love doing it, put it on the left side. If you are good at doing it, put it on the right side. What we’re gonna try and look for is something that does both of them.
For example, I really, really love doing audits. I know that sounds very sad. But I love sitting down with a customer, getting into their data and identifying a few points.
Now, am I brilliant at it? Actually, I need quite a lot of support and help. So it’s maybe not my biggest strength on the other side lead generation is something that we are really, really good at and we have lots of processes in place.
However, I don’t love doing it. So it’s not something that I’m going to want to do day in, day out. However, email marketing is not only something that I absolutely love doing. I absolutely love the power of email, but we are really good at it. We’ve probably done seven figures alone just through email marketing.
What I’m looking for is to move items from the “What” side, this is why you want to have as many as possible and say to yourself, “Do I love it? Am I good at it?”, and ideally we are looking for something that overlaps both of them.
Needs is essentially who needs this the most. So I want you to think about if you’ve got one, maybe you’ve got two or three inside the interest category. You can now move this over to the needs section.
The question you need to answer is who needs email marketing or whatever it is that you’ve highlighted that both are love and good at who needs this more than.
What do they also need to have in order for email marketing to really, really work for them? For example, let’s say that we’ve decided that I’m good at and I love email marketing. It’s something I’ve delivered before.
What does that customer need to have already in order to make email marketing really, really powerful? Who needs email marketing?
It’s almost certainly not going to be someone who doesn’t have an email marketing list. However, if someone comes to me and says, “Hey, Mike, I’ve got 10,000 people on my email list, but we’re just not generating any.”
I would absolutely dominate it for them. So, I now want to think about what type of things the customer needs to have in order to get the most results from one of these subjects.
Ideally, again, we’re looking for things that we overlap and in this particular case, they probably already need to have an email list of around 10,000 people. They also need a product in order to be able to.
I’m going to break this down for you. This one here is the most important letter in the whole process. Businesses are made of people.
Even if you’re selling business to business, you’re still selling to a person you’re selling to a human being. The human being is the person who makes the decision to buy from you.
You absolutely need to know who you’re selling to. This is the biggest mistake I find is that people think, well, I’ve got this great tool. I can build some great funnels, but in actual fact, I don’t know who I’m selling to and I don’t really know what it is that they’re buying.
People think they’re buying everything on the “What” column, but in actual fact, this is now where we are getting to the process of who we’re beginning to sell to and what they want.
I’m sure that every single business in the world would benefit from working with you. But the reality is you are not Google. You don’t have those kinds of resources to be able to scale out to billions of people.
We need to get you hyper-specific around who it is that you work with and the reality is that some people will benefit more than others.
It’s simple maths. If you have someone who has an email list of 10,000 people and they have a $10,000 product, or you have someone who has a hundred people on their email list and a hundred dollars product. Who would you be able to get bigger results for?
You’d be able to get bigger results for the person with 10,000 subscribers and a $10,000 product. If they just sell one sale to their list, that’s a $10,000 sale. Whereas they would have to make a hundred sales on the same list from a hundred people on the email list in order to make the same amount of revenue.
So the person with more resources and a proven offer and a higher price point is more likely to benefit faster from working with you.
Don’t confuse desperation and need, and would love to work with you with someone who will benefit from working with you the most.
The question I want you to think about in this category is if you could only sell one thing, what would that person need to have in order to get explosive results from you?
I just wanted to check in before we jump over to the next part, and remind you that I am a sales coach for funnel businesses just like you and we help agencies double their monthly revenue, every single day.
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What I mean by this is if they are this person and you do this thing with them, what do they actually get at the end of it?
They don’t just get email marketing. They don’t gain email marketing, they gain results within their business. What are those results?
I want you to think of this in a couple of different categories. I actually like to break this up, first of all, assets. So these are things that put money in their pocket.
There’s also less. What do they have less of? Maybe they have less stress. Maybe they have fewer irritating and difficult customers. Maybe they have fewer problems and headaches within their business.
I want you to also think about their wants. Which is basically what is it that they want more of? What is it that they’re looking to get more of? What is it that they’re looking to achieve?
These could be measurable like leads or clients or a $25,000 sale themselves or a million-dollar business, but it could also be that they want to take time off that they want to have a four-week vacation that they want to spend less time at the office.
These are all things that your marketing systems can help them achieve.
The other one is progress. What are they moving towards? What is it that they’re thinking? Yeah, I’m finally moving towards this million-dollar business.
Now, there might be some overlaps in this, but these are just some prompts to help you figure out what is it that they actually gain from working with you.
Now, like I said, one of the things they don’t gain or get is a marketing funnel or some email marketing or some lead generation. We want to say to them really specifically, and clearly, you will get more leads after working with us. You will have more sales in less time after working with us.
Think about what increases or decreases, again assets or what they have less of clarity, for example, is not specifically saying to someone they’ll have a plan. That’s not specific enough.
We want to be able to say to them, you will have a plan to grow a million-dollar business and take six months off a year. That’s something specific that we can deliver on.
Think about the metrics that they’re measuring. Refund requests, sales, first-time sales churn, all of these kinds of things that they’re measuring.
Those are the things that they’re affecting and we also want to think about what are the things going on in their life that they want more or less of? What are the things that stress them out? What are the things that confuse them or worry them? What are they laying awake at night thinking about?
If you can get specific and clear and measurable about these things that people get, you are moving towards something that is infinitely more sellable than just I build marketing funnels for people.
Finally, S stands for sell. This is ultimately what we’re actually going to sell to people.
Now we say in Sell Your Service, “Sell futures not features”. You might have even read a book about that.
People go to work and wake up wanting a new and better and brighter future. They do not wake up thinking, I want to have another CRM system or another web designer working with me.
If you can determine the future that your customer wants, you are infinitely closer to a sale than any of your competitors, because they are selling what they do. They might be selling what they’re interested in. But they haven’t gone any further.
Whereas we are going to say to our customers, “Hey, we are gonna help you get more leads.” But specifically, the future that you will achieve is X number of leads in Y time. If you want a bonus point, you put without Z.
Now, let’s say that through all of this, let’s use our email marketing example. One of the things that they’ll actually have assets for example, is product sales and their progress is maybe on automation.
They’re like, I’d love to have an automated business. What if we were now able to say, well, how about I generate you 10 new sales within 10 days without having to do a bunch of cold lead generation?
The trick here is to not be too married to a particular idea and to keep writing it and rewriting it and rewriting it until you’ve got something that’s specific that someone thinks, “I’d love to wake up to that”.
If you want to go even further into this, you can say things like, how would you like to generate sales when you are nowhere near the laptop?
When you’re able to paint a better and brighter future for people that’s when they become interested in working with you, those are the hooks in order to get people on the call.
Now, a lot of you will be saying things like how could I possibly guarantee that? How could I put a specific and measurable amount on how I would guarantee these types of results?
That’s why this one is so important, because if you need to say to me, well, if I could only sell email marketing to someone. What would they need to have? You should be able to take these numbers here and say to me, well, if someone had an email list of 10,000 people and they sold a $10,000 product, I’d easily be able to generate them $20,000 worth of revenue, because you just need two people out of 10,000 to buy one of their products.
You need to look at their ideal customer. So in this particular case, what we could say for the future is something like I’m going to show you how to make $20,000 in revenue in under 10 days without generating new leads.
Now, doesn’t that sound infinitely more appealing than, “Yeah, I do email marketing and copywriting.” Who cares?
Instead of you say, I work with businesses who have an email list and at least a $10,000 product, and I will show you how I generate $20,000 in revenue in under 10 days without generating new leads from scratch.
First of all, I want you to write up everything that you’ve delivered in the past. Then I want you to think about what do I love doing. What am I good at doing? Find something that overlaps both those columns.
Then I want you to think about what does the customer need to have in order for me to get epic results just selling this one product, then I want you to think about, well, what is it that they actually gain from this what’s measurable that they can get from this?
Do they get assets? Do they have something less? Are they removing something? What progress are they making? What is it that they want?
Then we sell to them the future. Write it, rewrite it, rewrite it again, bearing in mind, that you wanna focus it more on the needs and the future that that person could potentially achieve even if you only hit 50% of the mark, what would be interesting enough for them to work with?
If you followed those steps, you will find a niche that is willing to not only pay you $25,000, but you’ll also easily get the results.
Think about the numbers that I’ve given you behind. Businesses with over 10,000 people on their email list, they loads of them out there, a business that sells a $10,000 product. There are loads of them out there.
Are you honestly telling me that even a basic email marketing campaign wouldn’t be able to generate over $40,000 or $50,000 in revenue? That’s five sales out of 10,000 if they worked with you so they’re doubling their investment