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This business coaching session teaches how to determine your ideal and likely buyers.

Results-Focused Training, Tools, and Workshops from Expert Business Coaches.

Featured Coaching Excerpt - Notes & Transcript, Part 1
  • Notable Quotable: “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.”
    -Peter Drucker
    (Austrian-born American management consultant, educator, and author, whose writings contributed to the philosophical and practical foundations of the modern business corporation. )
  • Boom:
  • Editor's Note: https://www.oxifresh.com
  • Super Move:
  • Determine Your Ideal and Likely Buyers: 1. Men, Women, or Both
  • Editor's Note: http://eitrlakewood.com
  • Determine Your Ideal and Likely Buyers: 2. Age

- Clay, the first thing that we wanna talk about is determining your ideal and likely buyers. Peter Drucker says this, "The aim of marketing is to know and understand the customer so well, that the product or the service fits him, and sells itself." So, as you're getting to know your ideal and likely buyers, that product should, if you're targeting the right people, it should sell for itself if you're hitting them right. - [Clay] Knowledge bomb. - [Man In Center] Boom. - You see that's why we have all these accouterments. What would the program be without- - [Man In Center] I need to hear that louder. Like one more time. - Louder? I can do that. I have that skill. - [Man In Center] Oh Yeah! - And f you had your own 25 channel mixer on your desk, you could do that to. - [Man In Center] No, no, look I can do it. Watch this. Watch, watch. - Oh, impressive! - You're supposed to hit it once I'm doing it. - Okay, one more time. - Watch, watch. - There you go. - Teamwork right there. - Okay, so here we go! You want to help your customer though, by custom fitting it for them. - [Man In Center] Right. - One of our business is called The Elephant in the Room. It's a men's grooming lounge. And my partner Jonathan Barnett was in town this week, visiting. He was in here yesterday actually. We're gonna go up to dinner with him tonight. But, he understands his customers so well that he wants to custom tailor every aspect of the website to fit the customer's needs. So Stuart, if you pull up oxyfresh.com, this is his company. And he's a thrive15.com mentor, but he's kind of a virtual mentor in that he hasn't been on any of the recordings yet. But, he gives us tons of feedback and insight, and those kinds of things and we're gonna be featuring him here soon. - [Man In Center] Do you know he was one of my chaplains at ORU? - [Clay] Get out of here! - When I was a men's chaplain he served, and I've known him since he was a junior in high school. - That's why we-- - Fun fact though, he was one of my best chaplains when I was a men's chaplain at ORU man. - Cool!, very cool. - [Clay] Really!? Okay, well here we go. So here's the deal. Is Oxifresh, they know that the people who buy from them, who are looking for a more organic and clean way, a more organic and environmentally friendly way to clean their house, are looking for a couple things. One, they're looking to give back. They're looking to help out in the world. They're looking to do something nice. So if you see there they have the water.org. It's a cause they belong to, they work with where every time that you pay for your carpet to be professionally cleaned, they give a percentage back to help water.org, which provides fresh water for people in 3rd world countries. - [Voiceover] Wow! - [Clay] Pretty neat deal. [Man In Center] That's awesome. If you scroll down, they also have it here go green. They talked about being green. What does that mean, being committed to green? They are the world's greenest carpet cleaner. They're EPA certified, means the Environmental Protection Agency has signed off and said you guys are doing it right. If you look here, if you scroll back up to the top a little bit, they know that the customers love what they do and they're looking for that one hour dry time. They're looking for fast. People don't wanna have their, you know back in the day, even today companies do this, they say, Well, we're gonna clean your carpets today, but you can't walk on them till tomorrow at six. - [Voiceover] Right. - And you're going, what am I gonna do? - [Man In Center] With my little kids? - Yeah, well it's all good. You just can't walk in your house. - [Voiceover] Tape them to the wall. - Yeah So what we did, we installed hammocks, and we just put the kids in. Crawled around like, you know. But you know, no, I'm just kidding. They know their customers. So I wanna go through, kind of this checklist here. You have to know whether your customers are men or women, your ideal and likely buyers. And Stuart, why do we need to know that? What would happen if we didn't? I mean, how would that affect the design, if you knew it was women or men? - Well you would make a design, a bad decision, right? Men and women think differently. They look at things differently. The different things appeal to them, right? So dark colors colors and manly colors are not gonna appeal to a woman and vice versa, in terms of pastels and colors for a woman, it's not gonna appeal to a man. So you just have to, not have that mismatch. You have to be targeted at exactly who your audience is. - So you think about Elephant in the Room, if you go back to that site, that's one of the brands we're involved in and John's helping us custom tailor this whole experience for our customers. So, we have a lot of, you'll see there is stone there. There's elements of wood. If you go to EITRlakewood, this is our new, it's not done, this is our prototype. We're working on it. This is real business happening. We'll be opening up in Denver here shortly. And you see now we're going through and enhancing it a little more. - [Clay] Even more dude friendly And it's just constant and evolution, but we know who we're working with, we know what they're looking for, and it becomes to fit them more and more over time. We know, the guys that go to Elephant in the Room, they're looking for an experience. They're looking for a straight razor shave. They're looking for barn wood. They're looking for man candles that smell like pinion wood. They're looking, they're just looking for that - [Man In The Center] Sounds like a sound effect coming or something. - Yeah, you never can predict them. Sometimes it happens. I don't wanna force it because, right now - [Clay] That would be inappropriate. To play that song. There's a bro-mance that's happening right now. Anyway, so we're moving on here. Alright, so the next thing is, we wanna talk about age, the demographics of age. So, we have one company we work with, I won't mention the name, but I will mention what they do. They sell products that only appeal to 55 year old and above women who use desktop computers.

Featured Coaching Excerpt - Notes & Transcript, Part 2
  • Ample Example:
  • Determine Your Ideal and Likely Buyers: 3. Location
  • Boom:
  • Lesson Nugget: Your marketing ads should reach primarily the people in your location to maximize sales.
  • Determine Your Ideal and Likely Buyers: 4. Interests
  • Ask Yourself: What are the interests of my ideal and likely buyers?

- Stewart, what are the implications of that? - Well, one thing in particular is font size of a design like this. Legibility, readability, right? The other thing is dexterity, too. I could fire these off all day. Dexterity deals with how large and item is on the screen, how clickable it is, how easy it is to use, right. You have to consider not cramming the page with too much information if you have an older audience too because they're gonna lose focus on what's on the screen. - [Clay] I don't wanna give away what this company does, but I'm just gonna give you an example, though, okay? They sell a product that I would argue only 55 year old women and above would ever want. That's just how it is. There's another product I can think of that a very good friend of mine makes, and the profit margin on these things is like five times what she pays for them, and people will literally travel here to buy these things. And, I don't get it at all. I feel like just hearing about it and just knowing about it intimately like I do, I had to give my man card away just to learn more about the product and service. And then when I went to tour the facility and watch the experience, I did not understand what was going on. It's like how my wife feels when I make her watch Rocky. You know we watched the new one, Creed. - [Stewart] I love that movie. - I know. And my wife's trying to relay it and she's like "Can I go wash some laundry?" I'm like babe-- She's like "No, no, no, I wanna get all your clothes clean." But she doesn't get it, you know what I'm saying? Now the next thing here is location. Very, very important you know the location of your ideal and likely buyers. Because when you're running ads, you only wanna run ads that can be seen by your ideal and likely buyers. So, what we're gonna do here, Stewart, is we're gonna go to Google Maps, okay? Google Maps, Google Maps, okay? Now there's this beautiful area called Cherry Creek, Colorado. Now if we can pull that in the maps you can kinda work your way into there, Stewart, where you kinda drop in from the sky, you know, you drop in there, you kinda fly in there, yeah. Can you type in Whole Foods after that too? Cherry Creek, Colorado, and then Whole Foods. Now, Cherry Creek is the home of One Republic, that's the band. It's also the home of a very high-end-- you know, part of the Denver area. It's very nice, it's very upscale. And if you kinda walk around this area, you'll notice that, if you go out to this area and you travel out here, Stewart can you walk down the road a bit and just kinda show people what's up? Just going down Cherry Creek. - [Third Man] Don't get hit by the car, dude. - [Clay] Yeah you don't wanna go into on-coming traffic. I think you got hit. - [Third Man] Didn't you have a helmet on? - [Clay] But the thing is, you wanna know your location, because as we were looking at-- we're gonna open up Elephant in the Room, our physical store. We're only opening them near Whole Foods. So why? Because the people that go to Whole Foods are the kind of people that would shop at Elephant in the Room. Well, what do you mean? Have you ever gone into Whole Foods and discovered that they're like $7.99 fresh-pressed juice? - [Third Man] Yeah. - Have you ever seen those $1.50 avocados? - [Third Man] Yeah, yeah. - I mean, every time I eat there, I'm like, I'm gonna be really skinny cause this is the only thing I'm gonna eat this month. - [Third Man] I get the double-shredded wheat grass for four bucks. - Yeah, dude, I mean it's what I'm saying. And you know what, the average ticket for our haircuts for Elephant in the Room is over $40.00. - [Third Man] Smart. - So, the people who go to Whole Foods and just drops $8.00 on fresh-pressed juice or whatever, they don't really care about spending an extra 20 bucks for a paraffin hand-dip. Growing up, I didn't even know what a paraffin hand-dip was. As an adult, I still don't understand it, but we offer it. Now the next thing is the interests. You gotta think about the interests of your ideal and likely buyers. What are they into? What magazines do they read? So let's just play the game. If you're a dude, and you're getting your hair cut at the Elephant in the Room, it's an all-men's grooming lounge. What kind of magazines, Stu, would you speculate that I read? If I'm a dude, who has enough disposable income, to pay 45-50 bucks for my haircut, and I am in a place where I'm paying for $20 upgrades for a paraffin hand-dip. Instead of just shaving my own face, I pay for someone else to shave it with a straight razor. I mean, this is like, the peak of Maslow's hierarchy of needs. I don't think even Maslow could even envision a time when people would say "Rather than shave myself, I want someone else to do it. And I know I could do it in about five minutes myself, but instead I wanna pay someone else $50 and I wanna go there and have them do it with a razor slowly, while they talk to me about life." So, what kind of magazines do those people read, if you had to guess? - Man, I don't know, GQ? - Yeah, what about you, what would you guess? - Architectural Digest? - I'll tell you this, it's all these-- Harvard Business Review, stuff like you're saying here. Any of these trade journals, GQ, things that are like higher-end publications. So what we've done is we've done third-party ads on those kinds of websites. - [Third Man] There you go. - Cause we know what they're interested in.

Featured Coaching Excerpt - Notes & Transcript, Part 3
  • Editor's Note: http://www.artofmanliness.com
  • Determine Your Ideal and Likely Buyers: 5. Hobbies
  • Lesson Nugget: To find out the interests of your ideal and likely buyers, talk to at least 50 people and ask them.

- We are getting so many people who are visiting Elephant in the Room from our third-party ads on Forbes, and third-part ads on different sites. And it's crazy. Yah. So, there's one website called the Art of Manliness. If you could check that out real quick. It's a blog, and we've been featured on there before, and it's kind of neat, but if you google it, that's a blog with millions of people that go on there to learn about how to be a dude. You know? It's like the Art of Manliness, the legend is reborn. I mean look at this stuff here. If you can learn about all this, cigars. You can learn about virtues. You can learn about style. You can learn about, I mean, I can go on and on, how to tie a bow tie. Now if you google art of manliness and throw a little elephant in the room after it, you'll see the connection point there. But all I'm getting at is that that's the kind of blog we would want to pay to advertise on. We wouldn't want to pay to advertise on a, so there he is, and he's doing a, there he is. See? Reclaiming your manliness, getting in touch with your.. And he did an interview from the location of one of our Elephant in the Room locations, and it drove us tons and tons and tons of traffic. If you scroll down here, Beard Masters, talk about manly art of growing. Look at that? Do you see that one down there underneath the Facebook. Yah. Click that. We were featured in our local media talking about how to grow a beard. I mean, I don't even know what that means. - [Man in Middle] Clay, you would look good with that beard right there. - [Clay] I can't. I'm like a little boy. I don't even have the ability to grow facial hair. - A goatee. - I seriously, I look look like, you know Scooby Doo? How Shaggy always has a couple hairs. - Zoinks. - That's how I look. Yah. So you want to know the interests of your audience. Okay? The next is their hobbies. And by the way, when you know these things, I'm not talking about know them, I'm talking about write them down. Make a spreadsheet of all of these things. Because when you're in meetings, you want to be able to go, nope, that wouldn't appeal to our people. Nope, that wouldn't appeal to our people. Nope, that wouldn't appeal.. - So somebody new, let's just say, somebody's a novice. They have no clue what they're doin'. They're obviously here, because they're learning how to do it. Approximately how long of a time frame does this research typically take, Clay, or Jason, to be successful in what you do. Because I know it's ever-evolving. - Five hours. - Okay, per... - No. Five hours total for this whole part. - For this whole part? Okay. - This is how I would do it. That's a great question. What I would do is I would first define on paper the answers to all these that I think it could be. - [Man in Middle] Okay. - Then I'm going to go talk to the ideal and likely buyers and ask them, hey, what magazine do you read? That's what I did for Elephant in the Room. - [Man in Middle] So do you go in person? Talk to people in person? - For real, yah. If you want to talk to, if you can, I'd say at least 50 people. And I say, "Hey, bro, what magazine do you read?" And this guys like, "Ah, dude, I read GQ all the time." "You do? "What else do you read?" "You serious?" "Yah." "Men's Health" "Really? "Men's Health?" "Yah." "Okay, what else?" "Ahhhh, what do you mean?" I'm like, "Anything else?" "Yah, I mean, I like to read the Art of Manliness blog." - [Man in Middle] This is the practical knowledge you don't get in business school. - No. - [Man in Middle] Literally, you don't. - No, and the thing is, you have to go out there and meet these people. Now, I did the same type of process with a bakery I worked with years ago. And this bakery, this is going to blow your mind, we asked people, "What shows do you watch/" These women who are buying wedding cakes. What shows do you typically watch? What are your favorite shows? I'm asking, I mean, not 50 customers. We probably asked 200 of them. So we went to the bridal show, and we had a little survey, and we asked them, "Hey, what shows do you watch?" We went through a checklist just like this. So we went through and said, "Hey, if you don't mind us asking, how old are ya?" We found out the average bride's about 27 years old. We found out the average bride is a woman. We found out that the average person getting married is a bride, they groom's along for the journey, but the woman's deciding. We found out that they all lived within a certain zip code. Crazy. Almost every single woman who was at the bridal show, who was a buyer, lived within these three pockets of Tulsa. - [Man in Middle] Wow. - Then we say, "What are your interests?" And they're like, "Oh, I watch the Cake Boss." So I'm going, the Cake Boss? If they watch the Cake Boss, I'll be you they're... So I started asking them questions. And I say, "Where did you buy your gown?" We had women who were literally saying, "Oh, I went to Kleinfield's in New York." I'm like, "We live in Oklahoma. "You went to New York to buy your gown?" "Well, yah" That or the Galleria in Kansas City. Wait, you're driving five hours north or four hours south to Dallas, or you're flying to New York to buy your gown. Oh yah. Really? So then you're like, "What do you do for hobbies?" "Oh, well, we do a lot of tennis. "I do this." And you're going, okay. I get it. We're selling to yuppies.

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