Here’s the next post, as promised.
Today we are going to talk about converting your new audience into raving fans—fans who buy your products and tell their family and friends about them.
No More 80/20 Rule
We are big fans of the books How Brands Grow by Byron Sharp and Jenni Romaniuk. The authors have spent the past decade looking at the data behind how brands actually grow; not the stories we tell ourselves about how they grow, but the actual data. One marketing maxim they’ve debunked is the old 80/20 rule. You know the one that states that 80% of your sales will come from 20% of your audience? Yeah, turns out that’s not true.
50% of your sales will come from 20% of your audience.
This also means that the other 50% of your revenue will come from the other 80%. This 80% are infrequent buyers who need to hear about you and know you are available, but they are not going to be the ones to buy from you as frequently. That core 20% of your audience is more loyal. They are the ones we are looking for in our marketing program.
Another interesting finding is that people buy more of products they know more about. This makes sense because we all know—almost instinctively—that educating people about our product is key, especially for new products. It’s why the initial email series we produce for our clients are all about education. You are reading an educational email series right now. We need education.
Another truth is that people know more about the brands they buy more often. This means people don’t just need the information, they want more information about the brands they like. They search for it. They read, watch, listen and share it with their friends.
Look at these two points together and we think there’s only one conclusion—content about your mission, your vision, your values, your product, your company, your history and so on, will convert your audience into raving fans.
This is why we built our content marketing program. The data bears it out. People both want and need to know about you. We’ve built an entire marketing system—the same one we built for ourselves—dedicated to producing and distributing content about the most fascinating company in the world— yours.
All the best…
P.S. For the past few days, we’ve been talking about our marketing program and the hooks, ads, email and content that goes into making it work. If you are feeling a bit overwhelmed, it’s okay.
It can seem like a lot at first (how do I even get started?), but we’ve tried to make it very easy to begin. If you want to talk to someone on our team, then let us know. We can walk you through these simple first steps.