Promoting Elite Players: Newsletter Day 9
Most of what's floating around out there is far removed from strategy.
Blogging. Not a strategy. Podcasting. Not a strategy. Growing a huge Instagram following. Not a strategy.
Even many of the practices and activity I adopted through the years, while they were a cut above empty, disjointed tactical tasks, they were still not strategy.
It's funny. After all these years, strategy still comes down to a few key things:
- Traffic. Your goal is get your bait seen (more on this in the next point) and to get people to request it, sign up for it, or download it. The best strategy involves utilizing traffic that's already there. For instance, Amazon already has a ton of traffic. If you can find a way to tap into that, you can get your bait seen and purchased or downloaded by more people more rapidly. If it doesn't build a herd you own, though, it's all for naught (more on herds in point three).
- Bait. You need great bait to hook the customer. It could be free. It could be free plus shipping. It could even be a full blown product for a discount or a nominal fee. But whatever it is, it must lure in prospective customers. If it doesn't, the bait's not sexy enough. The bait must also be good enough that it makes your prospects want to do business with you, preferably immediately.
- Herd. Your bait attracts your herd. Therefore, it should attract the kind of people you want to attract (e.g., people who understand the value of what you provide and will spend money with you), not just anyone. There are a variety of ways to leverage other people's herds, and it's a great way to build your herd, but it must be emphasized that your goal is always to build your own herd, customer database, list. If you've attracted the right kind of people, you can make a good income even on a small audience. But it is good to be thinking about continually growing your herd, even if it's just to replace the people who unsubscribe and inject fresh blood into your business.
This is the essence of a solid strategy. It's simple, but it's also very nuanced.
For instance, beyond building your herd, you need to continually engage your herd. Give them a reason to stick around. Offer them incentives for becoming a member and upgrading their subscription. Finding new customers is good, but if you're not monetizing your existing customers, you're leaving significant income on the table.
Additionally, it may seem obvious on the surface, but you must have a reliable system. If no one takes your bait, there are holes in your strategy. It can't be called a strategy if it's not reliable.
If you haven't figured out any part of the above, you don't have a strategy yet. Keep iterating. Spend time thinking and reflecting. Seek out coaching and resources. But whatever you do, don't give up until you have a strategy.
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