I started our conversation about market awareness yesterday when I shared part of a coaching call with our highest-level coaching clients, the “Mentor to a Million” program. I first shared how important it is to understand the message that your competitors are sending to the marketplace. Check out that post here, if you haven’t read it yet.
Today, continuing from that call, I introduce the pyramid that explains how to look at your market’s level of awareness, as well as WHY it is so important to understand. We will conclude this series tomorrow, so come back to see that post!
…Recently I’ve also been spending a lot of time talking to clients about understanding prospect awareness levels. This is an interesting thing because I haven’t spent a lot of time talking about it in the past.
Not because it’s not critical, and not because it’s not one of the essential components to creating effective marketing, but because there is no right choice about how to handle it.
This means that in most markets you’re going to find people at all five levels of marketplace awareness. You’re going to find people who are completely unaware, people who are problem aware, people who are solution aware, people who are product aware, and people who are most aware.
In most markets you’re going to find people exist on at least four levels of awareness, if not all five. That’s why there is no one right answer.
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But, this is what I want you to think about. To me this is one of the most exciting things; when you really get this at a really deep level, this this should have a radical impact on your marketing and the design of your funnels.
Because there is no right answer as it relates to where your market is on the market awareness scale, the question is not “Where is your market in terms of prospect awareness?”
The first question is “What level of awareness are you going to go after?”
Where it is EASIEST to convert prospects
Because in every market there are individuals who are simply unaware. There are also: individuals who are aware of a problem; some that are aware of the different solutions that are out there; some that are aware of the different solutions and they’ve chosen a particular product or course of action; and some that have done all of that and they are aware of you and your company and your offer.
So the question is not “Where is my market?” but “What awareness level of the market am I going to go after?”
The higher the awareness level of your prospect, the easier will be your job of conversion.
It goes without saying that if you’re selling a pill to alleviate headaches, that people who are aware they have a headache are certainly easier to sell your pill to than people who aren’t aware yet that they have a headache (maybe they are really busy and haven’t noticed yet!).
And the people that are aware that they have a headache and have begun looking at different solutions, and want to take a pill as their chosen path, those people are even easier to convert. So the higher up you go on that conversion scale the easier it is.
Obviously going all the way up to most aware is easiest to convert. Those are your fans. They know you, they know what you bring to the table, they understand the value that you share with them.
But it’s a balancing act. Because really, the big money is on the lowest level of awareness. The easiest is at the top. But the bigger opportunity is at the bottom. Why?…
In my next article we will take a closer look at the biggest opportunity, so don’t miss it!
It’s your turn! Who are your easiest prospects to convert? How can you tell? Please share in the comments below!
