The #1 Messaging Mistake That Keeps Writers Broke & Frustrated
How to Speak to Your Target Audience
In this video, Alex talks about how to effectively speak to your target audience by understanding their level of awareness and market sophistication.
Understanding Market Awareness
- Knowing the demographics of your target audience is not enough. You need to understand their level of awareness or understanding around the subject or product you’re selling.
- A lack of awareness of market awareness is one of the biggest mistakes that a marketer or copywriter can make.
- The level of education and innovation you need to provide in order to make your offer stick depends on the level of market awareness.
Market Sophistication
- The greater the market awareness, the greater the market saturation or competition. This leads to something called Market Sophistication.
- One way to gauge where your offer stands on the Market Sophistication scale is by looking at the number of similar products or services that have come before you.
- There are five stages of Market Sophistication: Hello, World!, Enter Education, Claim Superiority, Offer Proof and Provide Convenience.
Five Stages of Market Sophistication
Stage 1: Hello, World!
- At this stage, you’re among the very first to bring a product or service like yours to the market.
- You are a trail-blazer!
- Products that enter at stage 1 have the best advantage at becoming the dominant player in their market.
Stage 2: Enter Education
- At this stage, there are other players in your market but they haven't fully educated consumers yet.
- You need to educate consumers about what you're offering and why it's better than what's currently available.
- You need to provide a Unique Selling Proposition (USP) that sets you apart from the competition.
Stage 3: Claim Superiority
- At this stage, consumers are educated about what's available in the market and they're looking for something better.
- You need to claim superiority over your competitors by highlighting your USP and how it solves their problems better than anyone else.
Stage 4: Offer Proof
- At this stage, consumers are skeptical of claims made by companies and want proof that your product or service works.
- You need to offer social proof, testimonials, case studies or other forms of evidence that show your product or service delivers on its promises.
Stage 5: Provide Convenience
- At this stage, consumers are looking for convenience and ease of use.
- You need to make it as easy as possible for them to buy from you by offering free trials, demos or other incentives.
The 5 Stages of Market Sophistication
In this section, the speaker discusses the five stages of market sophistication and how businesses can tailor their marketing strategies to each stage.
Stage 1: Uncontested Offer
- At this stage, your offer is uncontested.
- Your USP is simply “This has never been done before!”
- It requires market education to create awareness around what it is and how it works.
- At this stage, you lead through education.
Stage 2: What Makes You Better?
- At this stage, the market is warmer.
- More businesses have popped up to compete for the same audience.
- You need to promote your specific product features and benefits.
- This is where you can expand on your original claims with more proof and focus on your big promise.
Stage 3: How Are You Different?
- By this point, your market has gotten a little bit jaded by all the competition and saturated messaging in your niche.
- You need to innovate hard by providing a unique mechanism or approach that makes you stand out from competitors.
- Your USP should be something that sets you apart from others in the market.
Stage 4: Why Are You The Best?
- At this stage, the market is getting noisier and noisier, making it difficult to grow.
- Identify what top players in the industry are missing and then fill that gap.
- Be the super hero and swoop down to steal that market share.
Stage 5: What Makes You Memorable?
- People are not listening at this highest level.
- It’s no longer about what you sell but WHY you sell it.
- You need to figure out what makes your brand memorable and keeps people coming back for more.
- Your goal is to stick around by offering a personalized and exclusive brand experience.
The speaker discusses examples of companies that have successfully navigated each stage, such as HelloFresh, Apple, Kayo, Memrise, etc.
The 5 Stages of Market Sophistication
In this section, Alex discusses the 5 stages of market sophistication and how identifying where your product or service stands on this scale can help you better speak to your target audience and write more compelling copy.
Identifying Your Product's Stage
- There are five stages of market sophistication:
- Stage 1: The Market is Unaware
- Stage 2: The Market is Problem Aware
- Stage 3: The Market is Solution Aware
- Stage 4: The Market is Product Aware
- Stage 5: The Market is Most Aware
- By identifying which stage your product or service falls under, you can better tailor your messaging to your target audience.
Writing Compelling Copy
- Understanding the stage of market sophistication also helps in writing more compelling copy.
- By knowing what stage the market is at, you can craft copy that speaks directly to their needs and desires.
Creating Your Customer Avatar
In this section, Alex talks about creating a customer avatar and why it's important to identify your perfect customer.
Importance of Identifying Your Perfect Customer
- If you try to sell to everyone, you'll end up selling to no one.
- Identifying your perfect customer allows you to create targeted marketing campaigns that resonate with them.
Three Steps for Creating a Customer Avatar
- Step 1: Identify Demographics
- Age, gender, income level, education level etc.
- Step 2: Identify Psychographics
- Interests, values, beliefs etc.
- Step 3: Identify Pain Points
- What problems does your perfect customer have that your product or service can solve?
Conclusion
In this section, Alex concludes the video and encourages viewers to stay tuned for his next video on creating a customer avatar.
Final Thoughts
- By identifying where your product or service stands on the scale of market sophistication and creating a customer avatar, you can better tailor your messaging to your target audience and create more effective marketing campaigns.
Next Video
- Alex encourages viewers to watch his next video on creating a customer avatar.